SunOpta announces David Colo as president, CEO
SunOpta, a global company focused on organic, non-genetically modified and specialty foods, announced the appointment of David J. Colo as president and chief executive officer (CEO), 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, 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 Foodsexecutive 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."
Source: Company Press Release