Amira Nature Foods Ltd Announces Appointment of Thomas Dennhardt as CEO of Its German Subsidiary, Amira Basmati Rice GmbH

Date : 01/22/2019 @ 1:00PM
Source : Business Wire
Stock : Amira Nature Foods Ltd (ANFI)
Quote : 0.5501  0.0001 (0.02%) @ 6:31PM

Amira Nature Foods Ltd Announces Appointment of Thomas Dennhardt as CEO of Its German Subsidiary, Amira Basmati Rice GmbH

Amira Nature Foods (NYSE:ANFI)
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Amira Nature Foods Ltd (the "Company") (NYSE: ANFI), a global provider of packaged Indian specialty rice, today announced the appointment of Thomas Dennhardt to the role of Chief Executive Officer (CEO) of Amira Basmati Rice GmbH, the Company’s German subsidiary. The German subsidiary was purchased in 2014 and contains many well established brands in Germany. Mr. Dennhardt received an MBA from the European Business School and started his career at Lidl, one of Europe’s largest food retailers. As Chief Financial Officer of Lidl, Mr. Dennhardt assisted in building its business in various European countries including Spain and the United Kingdom. More recently, Mr. Dennhardt assisted in building and turning around several other food-related businesses in the United Kingdom and Germany.

Mr. Dennhardt commented, “I am very pleased to be joining Amira and look forward to driving the development and execution of the company’s corporate strategy in Germany going forward. We intend to devote significant time and effort to pursuing various opportunities in Germany, which we believe offer tremendous opportunity for value creation.”

Karan A. Chanana, Amira’s Chairman commented, “We are very pleased to have Thomas on board and look forward to leveraging his expertise and track record in steering Amira’s German business going forward. We believe the subsidiary is well positioned to develop the German market and we look forward to Thomas helping us develop that further.”

About Amira Nature Foods

Founded in 1915, Amira has evolved into a global provider of packaged Indian specialty rice, with sales in over 40 countries today. Amira sells Basmati rice, premium long-grain rice grown only in certain regions of the Indian sub-continent, under their flagship Amira brand as well as under other third party brands. Amira sells its products primarily in emerging markets through a broad distribution network. Amira’s headquarters are in Dubai, United Arab Emirates, and it also has offices in India, Germany, the United Kingdom, and the United States.

Cautionary Note on Forward-Looking Statements

This release contains forward-looking statements within the meaning of the U.S. federal securities laws. These forward-looking statements generally can be identified by phrases that we or our members of management use such as “believe,” “expect,” “anticipate,” “foresee,” “forecast,” “estimate” or other words or phrases of similar import. Specifically, these statements include, among other things, statements that describe our expectations for the global rice market, the financial impact of new sales contracts on our revenue, our expectations regarding the successful efforts of our distribution partners, and other statements of management’s beliefs, intentions or goals. It is uncertain whether any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what impact they will have on our results of operations, financial condition, or the price of our ordinary shares. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those indicated in such forward-looking statements, including but not limited to our ability to perform our agreements with customers; our ability to recognize revenue from our contracts as planned; continued competitive pressures in the marketplace; our reliance on a few customers and distribution partners for a substantial part of our revenue; our ability to implement our plans, forecasts and other expectations with respect to our business and realize additional opportunities for growth; and the other risks and important considerations contained and identified in our filings with the Securities and Exchange Commission. All forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, we undertake no obligation to update any forward-looking or other statements herein, whether as a result of new information, future events or otherwise.

Miriam NasrallaThe Amira Group+97144357303miriam.nasralla@theamiragroup.com

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