Daily Newsletter

30 August 2023

Daily Newsletter

30 August 2023

Canada-based High Liner Foods CEO resigns

Hepponstall has acted as director, president, and chief executive officer of High Liner Foods since May 2018.

Eszter Racz August 29 2023

High Liner Foods president and CEO Rod Hepponstall has resigned from the Canada-based seafood group.

Hepponstall, who has held the job for five years, will step down “on or before” 2 January 2024, the publicly-listed company said today (29 August).

“The board of directors would like to thank him for his years of service to the company. Mr. Hepponstall will collaborate with the company on a transition plan, and the company will provide more information in due course,” High Liner Foods said in a statement.

High Liner Foods hired former Lamb Weston and Conagra Brands executive Hepponstall in May 2018.

Earlier this month, the company posted its financial results for the 26 weeks to 1 July.

Sales increased 6.4% to $583.5m. Adjusted EBITDA dipped 0.9% to $53.2m. Net income was 41.1% lower at $19.8m.

In 2022, High Liner Foods generated sales of $1.07bn, up 22.2% on a year earlier.

Adjusted EBITDA increased 14.9% to $103.9m. Net income grew 29.6% to $54.7m.

The company’s products are sold throughout the US and Canada under the High Liner, Fisher Boy, Mirabel, Sea Cuisine and Catch of the Day labels.

High Liner Foods also sells branded products to restaurants and institutions and is a supplier of private-label seafood to North American food retailers and foodservice distributors.

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