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
a leadership succession plan, naming Wendy P. Davidson as President
and Chief Executive Officer, effective January 1, 2023. As part of
a planned transition, Mark L. Schiller will continue to serve as
President and Chief Executive Officer until December 31, 2022, at
which point, he will become a non-executive director on the Board
and will serve as an ongoing resource to Ms. Davidson. Ms. Davidson
has also been appointed as a member of the Company’s Board of
Directors, effective January 1, 2023, increasing the size of the
Board of Directors to nine directors.
“On behalf of the Board of Directors, I would
like to thank Mark for his unwavering commitment and leadership
during his four-year tenure as CEO,” said Dawn Zier, Chair of the
Board. “Mark has played an instrumental role in simplifying the
Company and instilling greater operational discipline throughout
the organization, and we are foundationally stronger as a result.
We look forward to his continued contributions and insights as a
member of our Board.”
“We are excited to welcome Wendy as our new CEO.
Her global CPG experience and successful track record in driving
growth, reducing complexity, and developing talent are key to
accelerating the transformative work that the leadership team has
undertaken to launch our Hain 3.0 strategy,” added Ms. Zier. “She
is the right choice to lead Hain Celestial through its next phase
of growth, and under her guidance, we look forward to the Company
delivering strong operating results and generating long-term
shareholder value.”
Ms. Davidson is a seasoned consumer packaged
goods executive with deep expertise in sales and marketing. She
most recently served as President of the Americas for Glanbia
Performance Nutrition, where she delivered strong results in a
post-pandemic recovery while integrating several acquired brands
into a single operating model. Previously, Ms. Davidson served as
President, Away from Home (formerly U.S. Specialty Channels) for
Kellogg Company and held various executive roles at McCormick &
Co. Inc. and Tyson Foods Inc. She currently serves as a director of
First Horizon Corporation. Ms. Davidson is a graduate of Luther
College with a B.A. degree in Political Science and Sociology and
completed Harvard Business School’s two-year executive program.
"I am delighted and honored by the opportunity
to lead Hain Celestial at this exciting time in the Company’s
history,” said Ms. Davidson. “Hain’s global portfolio of organic
and natural brands is authentic and beloved by consumers. The
leadership team has set a strong foundation for the Company's 3.0
strategy, and I look forward to working together to execute on the
Company’s growth agenda and build upon this strategy.”
“It has been a privilege and an honor to lead
this team. Our performance during the transformation has driven
significant value creation, benefiting shareholders while also
laying the foundation for long-term growth. I look forward to
working closely with Wendy as we transition roles and to being a
valued and trusted resource as a director,” said Mr. Schiller.
Contacts:Investor Relations:Chris
MandevilleICRhain@icrinc.com
Media:Robin Shallowrobin@robincomm.com
About The Hain Celestial Group,
Inc.
The Hain Celestial Group, Inc. (Nasdaq: HAIN) is
a leading organic and natural products company that has been
committed to creating A Healthier Way of Life® since 1993.
Headquartered in Lake Success, NY with operations in North America,
Europe, Asia and the Middle East, Hain Celestial’s food and
beverage brands include Celestial Seasonings®, Clarks™, Cully &
Sully®, Earth’s Best®, Ella’s Kitchen®, Frank Cooper’s®, Garden of
Eatin’®, Hartley’s®, Health Valley®, Imagine®, Joya®, Lima®, Linda
McCartney’s® (under license), MaraNatha®, Natumi®, New Covent
Garden Soup Co.®, ParmCrisps®, Robertson’s®, Rose’s® (under
license), Sensible Portions®, Spectrum®, Sun-Pat®, Terra®, The
Greek Gods®, Thinsters®, Yorkshire Provender® and Yves Veggie
Cuisine®. Hain Celestial’s personal care brands include Alba
Botanica®, Avalon Organics®, JASON®, Live Clean® and Queen Helene®.
For more information, visit hain.com.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Such statements
involve risks, uncertainties and assumptions. If the risks or
uncertainties ever materialize or the assumptions prove incorrect,
our results may differ materially from those expressed or implied
by such forward-looking statements. The words “believe,” “expect,”
“anticipate,” “may,” “should,” “plan,” “intend,” “potential,”
“will” and similar expressions are intended to identify such
forward-looking statements. Forward-looking statements include,
among other things, our beliefs or expectations relating to our
future performance, results of operations and financial condition;
our strategic initiatives; our business strategy; expectations
regarding the leadership transition; and our brand portfolio.
Risks and uncertainties that may cause actual
results to differ materially from forward-looking statements
include: challenges and uncertainty resulting from the impact of
competition; our ability to manage our supply chain effectively;
input cost inflation, including with respect to freight and other
distribution costs; foreign currency exchange risk; risks arising
from the Russia-Ukraine war; disruption of operations at our
manufacturing facilities; reliance on independent contract
manufacturers; challenges and uncertainty resulting from the
COVID-19 pandemic; changes to consumer preferences; customer
concentration; reliance on independent distributors; the
availability of natural and organic ingredients; risks associated
with operating internationally; risks associated with outsourcing
arrangements; our ability to execute our cost reduction initiatives
and related strategic initiatives; our ability to identify and
complete acquisitions or divestitures and our level of success in
integrating acquisitions; our reliance on independent certification
for a number of our products; the reputation of our Company and our
brands; our ability to use and protect trademarks; general economic
conditions; the United Kingdom’s exit from the European Union;
cybersecurity incidents; disruptions to information technology
systems; the impact of climate change; liabilities, claims or
regulatory change with respect to environmental matters; potential
liability if our products cause illness or physical harm; the
highly regulated environment in which we operate; pending and
future litigation; compliance with data privacy laws; compliance
with our credit agreement; the discontinuation of LIBOR; our
ability to issue preferred stock; the adequacy of our insurance
coverage; impairments in the carrying value of goodwill or other
intangible assets; and other risks and matters described in our
most recent Annual Report on Form 10-K and our other filings from
time to time with the U.S. Securities and Exchange Commission.
We undertake no obligation to update
forward-looking statements to reflect actual results or changes in
assumptions or circumstances, except as required by applicable
law.
Wendy Davidson
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/42d2f6dc-c72c-47c0-861c-8d929f0b2fd8
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