Katrina Houde, Current Interim CEO, Continues Position on SunOpta's
Board of Directors
TORONTO--(BUSINESS WIRE)--
SunOpta Inc. ("SunOpta") (NASDAQ:STKL) (TSX:SOY), a leading global
company focused on organic, non-genetically modified and specialty
foods, today announced the appointment of David J. Colo as President and
Chief Executive Officer, effective February 6, 2017. Interim CEO Katrina
L. Houde will continue her position on SunOpta's Board of Directors, a
position she has held since 2000. In conjunction with this appointment,
Mr. Colo will also become a member of the SunOpta Board of Directors.
Mr. Colo joins SunOpta from Diamond Foods, Inc. where he served as
Executive Vice-President, Chief Operating Officer. Mr. Colo has 30 years
of leadership experience in general management, operations and supply
chain management. As Executive Vice-President and Chief Operating
Officer for Diamond Foods, Inc., a role he began in June 2013, Mr. Colo
had direct responsibility for marketing, innovation, R&D, operations,
supply chain, procurement, quality, food safety, grower services and
contract manufacturing. Together with the Diamond Foods executive team,
he was responsible for leading the turnaround of the highly distressed
company and its successful sale for approximately $1.9 billion to
Snyder's-Lance in March 2016.
Dean Hollis, Chairman of SunOpta, said, "After a thorough search, we are
pleased to announce the hiring of an exceptional leader and operator,
with a proven track record in the food industry. David is a very
talented executive and I have seen first hand, on several occasions, his
leadership, business intensity and operational skills. During his time
at Diamond Foods, David was also intimately involved with our partner,
Oaktree Capital Management, so we expect an extremely efficient
integration into his role of leading the company and its value creation
plan."
Mr. Hollis continued, "On behalf of the Board, I would also like to
thank Kathy Houde for her role as interim CEO. Under Kathy's leadership,
SunOpta has made significant progress and we look forward to continuing
to benefit from Kathy's experience as an ongoing member of the Board of
Directors."
"I'm honored and grateful to the Board for the opportunity to lead
SunOpta," said David Colo. "Having worked in the industry for many
years, I have long respected SunOpta's business and talented employees.
The Company has tremendous potential and I look forward to continuing
the value creation plan set forth by the Board."
David J. Colo Biography
David J. Colo served as Executive Vice President, Chief Operating
Officer of Diamond Foods, Inc. from June 2013 until March 2016. Prior to
that, Mr. Colo held the position of Executive Vice President of Global
Operations and Supply Chain. Before joining Diamond Foods, Mr. Colo
spent approximately three years as an independent industry consultant,
focusing on organizational optimization and planning. From 2005 to 2009,
he held leadership positions in the consumer products division of
ConAgra Foods, Inc., including roles as Senior Vice President of Sales
and Operations Planning, Senior Vice President of Enterprise
Manufacturing and Senior Vice President of Operations. From 2003 to
2005, he served as President of ConAgra Food Ingredients.
Mr. Colo previously served with Nestle-Purina Pet Care Company in roles
of increasing responsibility, including Vice President of Supply for the
company's Golden Products Division, and Vice President of Store Brands
and Venture Development. He also served for two years as President of
the American Dehydrated Onion and Garlic Association. Mr. Colo is a
member of the Board of Directors of MGP Ingredients, Inc. Mr. Colo holds
a Bachelor of Science, Agribusiness Economics, from Southern Illinois
University.
About SunOpta Inc.
SunOpta Inc. is a leading global company focused on organic,
non-genetically modified ("non-GMO") and specialty foods. The Company
specializes in the sourcing, processing and packaging of organic and
non-GMO food products, integrated from seed through packaged products,
with a focus on strategic vertically integrated business models. The
Company's organic and non-GMO food operations revolve around value-added
grain, seed, fruit and vegetable-based product offerings, supported by a
global sourcing and supply infrastructure.
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Gagnier Communications
Dan Gagnier, 646-273-9391
dg@gagnierfc.com
or
ICR
Scott
Van Winkle, 617-956-6736
scott.vanwinkle@icrinc.com
Source: SunOpta Inc.
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