Hain Celestial has promoted James Langrock to CFO of the US natural and organics group.
Langrock has been with Hain Celestial since November 2015, when he joined as senior vice president, finance and treasurer.
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Starting tomorrow (23 June), he replaces Pat Conte, who is “leaving to pursue other opportunities”.
“James has been an important part of our finance team since joining the company, and more recently James has taken a leadership position as we completed our accounting review and finalised our audit,” Hain Celestial founder, president and CEO Irwin Simon said. “We are pleased that James will continue to provide his invaluable financial and operational expertise as we implement our strategic initiatives to better position Hain Celestial for our long-term success.”
Hain Celestial embarked on a review of its accounting last summer after finding “concessions” made to a number of distributors in the US earlier in the year. At the time, Hain Celestial said it was evaluating whether the revenue associated with the concessions was accounted for in the correct period and reviewing “its internal control over financial reporting”. The discovery of the concessions meant Hain Celestial halted the publication of its results for the year to the end of June 2016.
In November, Hain Celestial said a separate independent review, conducted by its board, into the concessions to distributors “found no evidence of intentional wrongdoing in connection with the company’s financial statements”.
Hain Celestial said today it had completed its internal review and, almost a year after the figures for the 12 months to 30 June 2016 should have been filed, published the numbers.
