NewsMore are heading for the life boats . Interim Co-CEO Matthew Hall Will Transition into an Advisory Role
Parimal Rana Appointed as New CEO
VANCOUVER, BC, July 4, 2022 /PRNewswire/ - The Very Good Food Company Inc. (NASDAQ: VGFC) (TSXV: VERY.V) (FSE: OSI) ("VERY GOOD" or the "Company"), has announced that as part of its succession plan, Matthew Hall has stepped down as interim Co-Chief Executive Officer and as a director of the Company but will continue to support VERY GOOD in an advisory capacity. Parimal Rana, a seasoned food industry professional and Very Good's Vice President of Operations, is assuming the role of Chief Executive Officer and will also join VERY GOOD's board of directors (the "Board").
With today's announcement, Matthew Hall commented on the progress VERY GOOD has made in recent weeks, and on the Company's leadership succession plan: "We've made notable headway in our effort to stabilize the business and it's the right time for Parimal to assume the role of CEO. Considering Parimal's deep understanding of the plant-based food industry, his impressive operational background, and most importantly his proven leadership capability within VERY GOOD, he is well prepared to build on the operational improvements that have been put in place and to realize VERY GOOD'S future growth potential."
Newly appointed CEO Parimal Rana specializes in scaling operations and driving company growth and has over 25 years of experience in the food manufacturing industry and has worked at major food companies such as Nature's Path Foods, Sunrise Soya Foods, CLS, Gardine and Daiya before joining VERY GOOD in 2021. "It is a privilege for me to take over as CEO. Matt's interim leadership has resulted in a notable change of direction and greater stability for our business, and we're now well positioned to leverage our strengths and focus on future growth", said Rana.
As part of this leadership transition, Dela Salem, who temporarily assumed the role of Interim Co-CEO alongside Matt Hall in May to help guide the Company through key challenges, will return to focus her efforts solely on the Board.
The Company today also announced that Bill Tolany has stepped down from the Board for personal reasons. The Company and the Board are working to fill the independent board seat vacancy created by Bill's departure.
The Company thanks both Matt and Bill for their contributions and wishes them much success in their future endeavors.
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