Freshpet Further Advances its Operational Improvement Plan with New Hires, Bringing Additional Capabilities to Support Growth and Margin Expansion
June 28 2023 - 7:01PM
Freshpet Inc. (NASDAQ: FRPT) (“Freshpet” or the “Company”) today
announced the addition of at Christopher Kraus as Chief Information
Officer, Nishu Patel as VP, Corporate Controller, and Wyatt Hassel
as VP, Manufacturing. These additions complete the majority of
key hires that are part of the Operational Improvement Plan the
Company laid out last fall. The plan contains a detailed roadmap of
the skills needed as Freshpet grows and expands.
With these three roles filled, Freshpet further strengthened its
financial, manufacturing, and operational expertise to support its
continued track record of industry-leading growth. Progress against
the Operational Improvement Plan thus far includes improved
quality, logistics, fill rates, and margin expansion. These new
team members will help support the ongoing delivery of improving
profitability and growth.
Billy Cyr, Chief Executive Officer of Freshpet, stated,
“Freshpet is committed to improving performance and expanding
organizational capabilities. Each of these new hires will
significantly impact our business and help to support our
operational momentum.”
Background on Wyatt Hassel, appointed VP of ManufacturingWyatt
Hassel brings with him 25 years of experience in manufacturing and
CPG operations with focused expertise in production and supply
chain operations. In his most current role, Wyatt held the position
of General Manager – Master Planning and Production Control at
H.E.B Grocery Company, where he had oversight of production
operations for 13 facilities and led continuous improvement efforts
for products developed in-store at HEB. He holds an MBA and a
Bachelor of Science Degree in Chemical Engineering from Tulane
University.
Background on Christopher Kraus, appointed Chief Information
OfficerChristopher Kraus brings over 20 years of technology
executive experience in FTE200 and privately held global
organizations. He aligns technologies to meet strategic business
goals both organically and through acquisitions. Most recently, he
was Chief Information Officer at Golden Touch Group, Inc., where he
helped modernize an outdated technology footprint at a $1.1B global
apparel company. He helped develop a multi-year roadmap focused on
re-platforming business systems, cloud migration, cybersecurity,
business resiliency, and long-term growth. Christopher holds a
Bachelor of Arts from Scranton University.
Background on Nishu Patel, appointed VP of Corporate
ControllerNishu Patel brings 15 years of experience in public
and private company financial statement audits from her tenure at
Ernst & Young LLP. She has extensive knowledge
of SEC reporting requirements, Sarbanes-Oxley Act
requirements, initial public offerings/carve-out
audits, acquisition and divestiture accounting, joint venture
transactions, adoption of new accounting standards as well as
various other technical accounting and auditing matters. Her
background in public accounting will complement her current role
and responsibilities of being a strategic leader, resolving complex
matters and reviewing the Company’s SEC filings, ensuring that
financial statements and disclosures are in accordance with US GAAP
and in compliance with SEC rules and
regulations. Nishu is a CPA, holds an MBA in Accounting
and a Bachelor of Arts in Psychology from Rutgers University, and
currently sits on the Board of Trustees of the National
Multiple Sclerosis Society of NJ.
About FreshpetFreshpet’s mission is to improve
the lives of dogs and cats through the power of fresh, real food.
Freshpet foods are blends of fresh meats, vegetables and fruits
farmed locally and made at our Freshpet Kitchens. We
thoughtfully prepare our foods using natural ingredients, cooking
them in small batches at lower temperatures to preserve the natural
goodness of the ingredients. Freshpet foods and treats are kept
refrigerated from the moment they are made until they arrive at
Freshpet Fridges in your local market.
Our foods are available in select mass, grocery (including
online), natural food, club, and pet specialty retailers across the
United States, Canada and Europe. From the care, we take to source
our ingredients and make our food, to the moment it reaches your
home, our integrity, transparency and social responsibility are the
way we like to run our business. To learn more, visit
www.freshpet.com.
Connect with Freshpet:
https://www.facebook.com/Freshpet
https://twitter.com/Freshpet
http://instagram.com/Freshpet
http://pinterest.com/Freshpet
https://www.tiktok.com/@Freshpet
https://en.wikipedia.org/wiki/Freshpet
https://www.youtube.com/user/freshpet400
Forward Looking Statements
Certain statements in this release constitute “forward-looking”
statements, including statements relating to our long-term capacity
planning, net sales guidance and Adjusted EBITDA guidance. These
statements are based on management's current opinions,
expectations, beliefs, plans, objectives, assumptions or
projections regarding future events or future results. These
forward-looking statements, including our updated guidance, are
only predictions, not historical fact, and involve certain risks
and uncertainties, as well as assumptions. Actual results, levels
of activity, performance, achievements and events could differ
materially from those stated, anticipated or implied by such
forward-looking statements. While Freshpet believes that its
assumptions are reasonable, it is very difficult to predict the
impact of known factors, and, of course, it is impossible to
anticipate all factors that could affect actual results. There are
several risks and uncertainties that could cause actual results to
differ materially from forward-looking statements made herein
including, most prominently, the risks discussed under the heading
“Risk Factors” in the Company's latest annual report on Form 10-K
and its quarterly reports on Form 10-Q filed with the Securities
and Exchange Commission. Such forward-looking statements are made
only as of the date of this release. Freshpet undertakes no
obligation to publicly update or revise any forward-looking
statement because of new information, future events or otherwise,
except as otherwise required by law. If we do update one or more
forward-looking statements, no inference should be made that we
will make additional updates with respect to those or other
forward-looking statements.
Investor Contact:ICRJeff
Sonnek646-277-1263Jeff.sonnek@icrinc.com
Media
Contact:Freshpet@edelmansmithfield.com
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