Arcadia Biosciences, Inc said it has launched a national search for a new CEO as the company further expands into the consumer packaged goods (CPG) sector.
Current CEO Matt Plavan will step down from the role once a successor is named, which is expected to occur by the end of the year.
“With a portfolio of plant-based, better-for-you food and wellness products now in place and under development, Arcadia is well-positioned to leverage its innovation-oriented heritage, elevate its brands and further penetrate the consumer health and wellness categories,” Arcadia Biosciences CEO Matt Plavan said in a statement.
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“Having reached this pivotal point, the timing makes sense to begin the process of transitioning to a new leader with deep experience running successful CPG organizations who will be able to build on the company's momentum, accelerate speed-to-market and capitalize on the tremendous growth opportunities ahead,” Plavan added.
Arcadia chairman Kevin Comcowich also commented, stating: “Matt has deftly led Arcadia through a critical transformational phase, as we transitioned our focus from developing to commercializing a portfolio of specialty wheat ingredients, while, at the same time, acquiring and integrating additional food and wellness brands.
“We look forward to his ongoing support as we work towards this leadership transition and the passing of the baton to a CPG-industry veteran for Arcadia's next chapter.”
Arcadia Biosciences is a leader in science-based approaches to enhancing the quality and nutritional value of crops and food ingredients. The company's GoodWheat branded ingredients deliver health benefits to consumers and enable consumer packaged goods companies to differentiate their brands in the marketplace.
Contact Sean at sean@proactiveinvestors.com