Landec announced its finance chief Gregory Skinner is set to leave the US-based health and wellness company, with the current CFO of its food arm set to replace him on an interim basis.
Brian McLaughlin, who is head of finance at Curation Foods, will step into the CFO role at the parent firm on 8 January but will also still retain his current position, according to a statement. Skinner, who has served as CFO and vice president of finance and administration since 1999, is departing for personal reasons.
“We sincerely thank Greg for his invaluable contributions to Landec over the years,” said Dr Albert Bolles, Landec’s president and chief executive. “Greg has built a tremendous finance team and programme and maintained the highest standard of leadership, strategic thinking and financial stewardship during his tenure as CFO.”
Skinner commented: “It’s been an honour to serve the shareholders, employees and customers of Landec for the past 23 years. I look back on my tenure with pride in our accomplishments and excitement for the opportunities that will come next. Brian is a tremendous leader with strong financial knowledge, and has the right experience within the business to take the reins as interim CFO.”
McLaughlin joined Curation Foods, which changed its name last year from Apio, as CFO in 2015. The move to a new name was part of a transition from a packaged vegetable company to a branded, natural foods group, including plant-based brands, and also involved reorganisation of its facilities.
Last week a new transformation programme was launched, Project Swift, to return the business to profit with potential job losses on the cards.
Curation Foods has been set a series of strategic goals by its parent company. Landec has also decided to make changes to the number of sites run by Curation. The company is “consolidating and centralising” Curation Foods offices into an innovation centre in Santa Maria, California.
Curation Foods booked a net loss of US$10.5m in the six months to 24 November based on revenues of $246.4m, compared to a $1.96m profit a year earlier. EBITDA was a negative $3.96m.