LAKE SUCCESS, N.Y.,
April 17, 2019 /PRNewswire/ -- The
Hain Celestial Group, Inc. (Nasdaq: HAIN) ("Hain Celestial" or the
"Company"), a leading organic and natural products company with
operations in North America,
Europe, Asia and the Middle
East providing consumers with A Healthier Way of Life™,
today announced that Jerry Wolfe has
been hired as the Chief Supply Chain Officer. Mr. Wolfe will
be responsible for leading the Company's supply chain organization
including supply chain planning, logistics, contract management,
continuous improvement, plant operations and procurement. He
will report directly to Hain Celestial's President and Chief
Executive Officer, Mark L. Schiller,
and will be a member of the Executive Leadership Team.
Mr. Wolfe is an accomplished supply chain executive with over 30
years of supply chain leadership experience and had been consulting
with the Company while it conducted a Chief Supply Chain Officer
search. He has held executive level supply chain roles with
McCormick & Company and Ernst & Young, and he will play in
integral role in working with Mr. Schiller and the Hain Celestial's
executive leadership team to simplify the portfolio, strengthen
capabilities, reinvigorate top line growth, and expand margins and
cash flow.
Additionally, the independent Compensation Committee of the
Board of Directors approved an inducement award for Mr. Wolfe.
The inducement award was granted on April
14, 2019 under The Hain Celestial Group, Inc. 2019 Equity
Inducement Award Program, which was approved by the Company's Board
of Directors on February 15, 2019 and
provides for the granting of equity awards to new employees of the
Company. The inducement award was granted as an inducement material
to the new employee's acceptance of employment with the Company, in
accordance with NASDAQ Listing Rule 5635(c)(4).
Mr. Wolfe will receive an inducement award of 135,993
Performance Share Units ("PSUs") and 13,594 Restricted Share Units
("RSUs") intended to represent the long-term incentive
opportunities for fiscal years 2019 to 2021. The total PSUs
earned pursuant to the inducement award shall range from 0 to
135,993 based upon the Company's achievement of certain
pre-established performance goals with respect to compound annual
total shareholder return over the three-year period beginning on
November 6, 2018, aligned with the
inducement award granted to Mr. Schiller in connection with his
hire. With respect to the RSUs comprising Mr. Wolfe's
inducement award, the RSUs will vest in thirds on the first, second
and third anniversaries, respectively, of the grant date, provided
that Mr. Wolfe remains employed with the Company through each of
those dates.
About The Hain Celestial Group, Inc.
The Hain Celestial Group (Nasdaq: HAIN), headquartered in
Lake Success, NY, is a leading
organic and natural products company with operations in
North America, Europe, Asia
and the Middle East. Hain
Celestial participates in many natural categories with well-known
brands that include Alba Botanica®, Almond Dream®, Arrowhead
Mills®, Avalon Organics®, Bearitos®, Better Bean®, BluePrint®,
Casbah®, Celestial Seasonings®, Clarks™, Coconut Dream®, Cully
& Sully®, Danival®, DeBoles®, Earth's Best®, Ella's Kitchen®,
Europe's Best®, Farmhouse Fare™,
Frank Cooper's®, Gale's®, Garden of
Eatin'®, GG UniqueFiber™, Hain Pure Foods®, Hartley's®, Health
Valley®, Imagine®, JĀSÖN®, Johnson's Juice Co.®, Joya®, Kosher
Valley®, Lima®, Linda McCartney's®
(under license), Live Clean®, MaraNatha®, Mary Berry (under license), Natumi®, New Covent
Garden Soup Co.®, Orchard House®, Queen Helene®, Rice Dream®,
Robertson's®, Rudi's Gluten-Free Bakery®, Rudi's Organic Bakery®,
Sensible Portions®, Spectrum Organics®, Soy Dream®, Sun-Pat®,
Sunripe®, SunSpire®, Terra®, The Greek Gods®, Tilda®, Walnut
Acres®, WestSoy®, Yorkshire Provender®, Yves Veggie Cuisine® and
William's™.
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SOURCE The Hain Celestial Group, Inc.