Seneca Foods’ CEO Kraig Kayser to Retire; Paul Palmby Named to Succeed Him
September 01 2020 - 4:15PM
Seneca Foods Corporation (NASDAQ: SENEA, SENEB), one of North
America's leading providers of packaged fruits and vegetables with
facilities located throughout the United States, today announced
the planned retirement of its President, Chief Executive Officer
and director, Kraig H. Kayser, on September 30, 2020. Paul L.
Palmby has been named to succeed Mr. Kayser upon his retirement.
Mr. Kayser will continue to be an employee to provide transition
services through October 31, 2021.
The Seneca Board made the following statement,
“We would like to thank Kraig for his many contributions to the
Company. The Board has tremendous respect for Kraig’s leadership
and the performance Seneca Foods has achieved under his direction.
As we look forward to a smooth transition we note that Paul
understands both our history and vision for the future and has the
skills and perspective needed to build upon our solid foundation
and take Seneca Foods to the next level.”
Mr. Kayser has served as President and Chief
Executive Officer since 1993. From 1991 to 1993 he was Chief
Financial Officer of the Company. In addition, he has served
as a director of the Company since 1985. Under his
leadership, the Company has made a series of strategic acquisitions
that have enhanced the Company’s leadership position in the food
packaging markets.
“It has been my privilege to serve Seneca Foods
for over 35 years,” said Mr. Kayser. “Together, we have built an
organization that makes a difference in people’s lives by producing
safe, delicious, and healthy foods at a good value which are
particularly needed in these difficult times. I could not be more
proud of the accomplishments of our team, including Paul.”
Mr. Palmby has served as Executive Vice
President and Chief Operating Officer of Seneca Foods since 2006.
Prior to that, he served as President of the Vegetable Division of
the Company from 2005 to 2006 and Vice President of Operations of
the Company from 1999-2004. Mr. Palmby joined the Company in March
1987.
“I have been fortunate to work under Kraig’s
leadership during our decades together at Seneca Foods,” said Mr.
Palmby. “I appreciate the confidence and support of Kraig and the
Board. Seneca Foods has firmly established itself as a leader in
packaged foods and the Company will continue to thrive as we focus
on the same fundamental beliefs that have brought us our
success.”
About Seneca Foods Corporation
Seneca Foods is one of North America’s leading
providers of packaged fruits and vegetables, with facilities
located throughout the United States. Its high quality products are
primarily sourced from over 1,600 American farms. Seneca is a major
participant of the retail private label, food service, and export
canned vegetable markets, distributing to over 90 countries.
Products are also sold under the highly regarded brands of
Libby’s®, Aunt Nellie’s®, Green Valley®, CherryMan®, READ®, and
Seneca labels, including Seneca snack chips. Seneca’s common
stock is traded on the Nasdaq Global Stock Market under the symbols
“SENEA” and “SENEB”. SENEA is included in the S&P SmallCap 600,
Russell 2000 and Russell 3000 indices.
Contact: Timothy J. Benjamin, Chief Financial
Officer 315-926-8100
Seneca Foods (NASDAQ:SENEA)
Historical Stock Chart
From Aug 2024 to Sep 2024
Seneca Foods (NASDAQ:SENEA)
Historical Stock Chart
From Sep 2023 to Sep 2024