A director at Chiquita Brands International has quit due to “concerns” over the US produce giant’s financial and operational performance.
Durk Jager, former chairman, president and CEO of Procter & Gamble, joined Chiquita’s board of directors in 2002. However, in an email on 19 November, Jager confirmed his resignation from the board.
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In a statement published yesterday (24 November), Chiquita said it believes that, as indicated in the email, Jager resigned “due to concerns with the company’s financial and operational performance and strategy”.
“With respect to those matters, the company refers to its prior public disclosure, including its most recent quarterly report on Form 10-Q filed on 3 November 2010,” Chiquita said.
In the third quarter, Chiquita booked an underlying loss of US$7m, compared to income of $9m last year after net sales fell 8% to $730m. The firm also cut its 2010 profit forecast.
There are now eight members sitting on Chiquita’s board. Kerrii Anderson will now serve as chair of the nominating and governance committee of the board, the firm said, adding: “The company thanks Mr Jager for his service”.
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