Amira Nature Foods Ltd Announces Leadership Changes
August 11 2017 - 5:38PM
Business Wire
Amira Nature Foods Ltd Announces Bruce C.
Wacha and Nathalie Dauriac as Directors and Varun Sethi as its new
Chief Financial Officer
Amira Nature Foods Ltd (the “Company;” “Amira”, “us”, “we” or
“our” NYSE: ANFI), a leading global provider of branded, packaged
Indian specialty rice, today announced the appointment of Nathalie
Dauriac as an independent director of the Company and Varun Sethi
as the new Chief Financial Officer. Bruce Wacha will step down as
Chief Financial Officer effective August 21, 2017 upon
effectiveness of Varun Sethi’s appointment and will continue to
serve as a director of the Company. There was no dispute or
disagreement between Mr. Wacha and the Company on any matter
relating to the Company’s accounting practices, financial
statements.
“On behalf of the Company, I want to welcome Nathalie Dauriac
and Varun Sethi to the Amira team and thank Bruce Wacha for his
contributions to Amira’s success,” said Karan A. Chanana, Amira’s
President and Chief Executive Officer.
Mr. Wacha added, “I would like to thank Karan and the rest of
the Amira team for providing me the opportunity to serve as the
Company’s Chief Financial Officer and I wish them continued success
going forward. I look forward to continuing to serve as a director
and participating in Amira’s future success.”
About Amira Nature Foods Ltd
Founded in 1915, Amira has evolved into a leading global
manufacturer, marketer and distributor of branded packaged
specialty rice and other related food products, with sales across
five continents around the world. The Company generates the
majority of its revenue through the sale of Basmati rice, a premium
long-grain variety of rice grown only in the geographically
indicated region of the Indian sub-continent, as well as other
specialty rice. It sells its products under its flagship Amira
brand, as well as other Company owned brands and third party
brands. The Company expanded its product offerings in recent years
to include other value-add categories such as edible oils and
organics. The Company also sells other products such as wheat,
barley, legumes and other produce to large institutional customers.
The Company’s fourth generation leadership has built on a rich,
century-old legacy and transformed Amira from a local family-run
business to a publicly listed, globally focused packaged food
company with a global leadership position in the high growth
Basmati rice sector. Amira sells its products through a broad
distribution network in both the developed and emerging markets.
The Company’s global headquarters are in Dubai, United Arab
Emirates, and it also has offices
in India, Malaysia, Singapore, Germany,
the United Kingdom, and the United States. Amira
Nature Foods Ltd is listed on the New York Stock
Exchange (NYSE) under the ticker symbol “ANFI.”
For more information, please visit www.amira.net.
Safe Harbor for Forward-Looking Statements
This press release contains statements of a forward-looking
nature. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. You can identify these forward-looking statements by words or
phrases such as “may,” “will,” “except,” “anticipate,” “aim,”
“estimate,” “intend,” “plan,” “believe,” “is/are likely to,”
“future” or other similar expressions. We have based these
forward-looking statements largely on our current expectations and
projections about future events and financial trends that we
believe may affect our financial condition, results of operations,
business strategy and financial needs. There is no assurance that
our current expectations and projections are accurate. These
forward-looking statements include, but are not limited to:
- our goals and strategies;
- our operations and expansion
plans;
- our future business development,
results of operations, financial condition and financial
statements;
- our ability to protect our intellectual
property rights;
- projected revenue, EBITDA, adjusted
EBITDA, profits, adjusted profits, earnings, adjusted earnings and
other estimated financial information;
- our ability to maintain strong
relationships with our customers and suppliers;
- governmental policies regarding our
industry; and
- the impact of legal proceedings.
You should not place undue reliance on forward-looking
statements and you should read these statements in conjunction with
the risk factors disclosed in “Risk Factors” appearing in Amira’s
Annual Reports found on the SEC’s website located at www.sec.gov.
Those risks are not exhaustive. We operate in a rapidly evolving
environment. New risk factors emerge from time to time, and it is
impossible for our management to predict all risk factors, nor can
we assess the impact of all factors on our business or the extent
to which any factor, or combination of factors, may cause actual
results to differ from those contained in any forward-looking
statement. We do not undertake any obligation to update or revise
the forward-looking statements except as required under applicable
law.
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ICR Inc.Katie TurnerManaging Director685 Third Avenue, 2nd
FloorNew York, NY 10017Katie.turner@icrinc.com646-277-1228
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