Key Takeaways
- New Board Member: Carolyn Hauger has been appointed to the Village Farms International, Inc., board of directors, effective immediately.
- Extensive Experience: Ms. Hauger brings over 35 years of leadership experience in finance and operations across various industries, including consumer-packaged goods and technology.
- Election Pending: She will stand for election at the company’s annual shareholders meeting scheduled for June 2024.
- Diverse Roles: Previously served as CFO for multiple companies, enhancing financial strategies and operational efficiencies.
- Current Engagements: Ms. Hauger is actively involved in other director and advisory roles, signifying her broad expertise and leadership acumen.
Village Farms International, Inc. (NASDAQ: VFF) is pleased to announce the appointment of Carolyn Hauger to its Board of Directors with immediate effect. Ms. Hauger, a seasoned executive with extensive experience in finance, operations, and company directorship, is set to stand for election at the upcoming annual shareholders meeting in June 2024.
Background and Professional Experience
Carolyn Hauger has accumulated over 35 years of experience in senior executive and director roles, contributing to her broad expertise in financial strategy and business development. Her career encompasses significant roles across multinational and emerging growth companies, particularly in the consumer-packaged goods and technology sectors.
Ms. Hauger is currently the CFO at Ten-Nine Technologies, focusing on battery nanotechnology additives. She has played a pivotal role in the company’s early stages of development. Her previous positions include CFO at Lion, Inc., and Divisional CFO and Senior VP at Clopay Plastics, a Griffon Corporation subsidiary, where she drove substantial financial improvements and international subsidiary optimization.
Contributions and Achievements
John McLernon, Chairman of the Village Farms board, highlighted Ms. Hauger’s diverse and successful track record, stating, “Ms. Hauger brings to Village Farms an exceptional 35-plus year track record of leadership in both senior executive and director roles. With broad-based expertise in financial strategy and business building, alongside decades of consumer-packaged goods, international, and startup experience, her insight and perspective will be of tremendous benefit to Village Farms.”
Earlier in her career, Ms. Hauger was an Advisory Senior Manager at Ernst and Young, where she advised C-level executives on production optimization. She also held various executive finance and operations positions at Procter and Gamble over a 25-year tenure, contributing significantly to commercial innovation strategies that enhanced market share and profitability.
Current Roles and Educational Background
In addition to her new role at Village Farms, Ms. Hauger serves as an Independent Director and Audit Chair for Jericho Energy Ventures and holds advisory board positions with Prestige Properties Management, LLC, and Metal Resource Solutions, Inc. She earned a BS in Chemical Engineering from The Pennsylvania State University and an MBA in Finance and Accounting from Xavier University.
Village Farms International’s Latest News
Expands Executive Team to Strengthen Global Cannabis Operations (2024/04/25)
Village Farms International, Inc. announced significant expansions to its executive team, introducing new roles aimed at bolstering its fast-growing global cannabis operations. The newly created positions reflect Village Farms’ commitment to leadership and expertise in its burgeoning global operations. The company is experiencing impressive growth trajectory, notably its profitability in Canada and expansion into four new medicinal export markets.
Appoints William Stoufer as President of Balanced Health Botanicals (2024/04/11)
William Stoufer has been appointed as the new President of Balanced Health Botanicals (BHB), reporting to Michael DeGiglio, President and CEO of Village Farms. Stoufer joined BHB in 2019 as COO with almost 30 years of experience in the consumer-packaged goods sector. Chase Terwilliger, former CEO of BHB, has left the CBD/cannabis industry to pursue other opportunities.
Achieves Top Rankings in FT’ Fastest Growing Cannabis Companies (2024/04/08)
Village Farms International has been named among the fastest-growing companies in the Americas by The Financial Times and Statista, for the second consecutive year. The company has been ranked 1st among cannabis companies, 10th within the agriculture sector, and 32nd among Canadian companies. Village Farms’ strategy focuses on capitalizing on the global cannabis market by leveraging its expertise in controlled environmental agriculture. The company aims to maintain its leadership position in agriculture while aggressively expanding its cannabis strategy on an international scale.
Launches Renewable Natural Gas Facility in British Columbia (2024/04/04)
Village Farms International and Terreva Renewables have started operations at the Delta RNG production facility in British Columbia. The facility will convert methane gas from landfills into low-to-negative carbon emissions RNG, helping to offset fossil fuel usage and aligning with environmental sustainability goals. The project is set to contribute nearly 3% of British Columbia’s targeted RNG volumes, supporting the province’s aim to reduce greenhouse gas emissions by 30% by 2030.
Reports Q4 & Year-End Financial Results (2024/03/14)
Village Farms International, Inc. (NASDAQ: VFF) reported positive financial outcomes for the fourth quarter and fiscal year ending December 31, 2023. The Canadian Cannabis business remains the leader in that market, with record sales and positive adjusted EBITDA. Village Farms’ operations have benefitted from a more favorable Canadian regulatory environment, with the company actively engaging in discussions around excise duty reforms. The company is expanding globally, and its U.S. Cannabis business and Fresh Produce division reported positive adjusted EBITDA and cash flow.
Village Farms International Expands Into The Netherlands (2024/02/01)
Village Farms International is expanding its expertise to the cannabis and CBD categories in North America and internationally. The company has secured one of only 10 licenses available under the Dutch Closed Supply Chain Experiment, allowing it to produce and distribute recreational cannabis in the Netherlands legally. Village Farms has commenced the build-out of its inaugural indoor cannabis production facility in Drachten, Netherlands, and plans to enter the high-THC cannabis market in the US while exploring opportunities in specific international markets.
Q3 2023 Results (2023/11/09)
In Q3 2023, the company reported substantial improvements in its financial health and strategic growth across all business segments. The company achieved positive cash flow and reduced losses, with notable gains in Canadian and U.S. Cannabis operations and a recovery in Fresh Produce. Despite a minor decline in consolidated sales, Village Farms demonstrated increased profitability and efficiency, particularly in its cannabis segment, which maintains market leadership in Canada. The Company also focuses on expanding its product range and exploring international opportunities in the legal cannabis and CBD markets, indicating a strong future outlook and continued growth trajectory.
Village Farms Appoints Orville Bovenschen as President of Pure Sunfarms; Mandesh Dosanjh Moves to Advisory Role (2023/08/23)
Village Farms International has announced Orville Bovenschen as the new President of Pure Sunfarms, replacing Mandesh Dosanjh. Bovenschen has enhanced quality and consistency across Pure Sunfarms’ brands. Dosanjh moves to a strategic advisory position. Bovenschen has international experience and reports directly to Michael DeGiglio.
Q2 Highlights Growth In Cannabis & Fresh Produce (2023/08/10)
Village Farms International, Inc. has released its Q2 2023 financial results. The Canadian Cannabis segment saw a 24% YoY growth in Retail Branded sales, outperforming the overall market expansion. The U.S. Cannabis segment and Fresh Produce division also showed consistent performance and significant improvements. The company also emphasized its strategic focus on consumer-driven innovation and aggressively pursuing international opportunities.
Village Farms International Reports Strong Q1 2023 (2023/05/11)
Village Farms International, a Vancouver-based company, reported strong growth in its Canadian Cannabis business and significant improvement in its Fresh Produce business for the first quarter of 2023. The company achieved its 18th consecutive quarter of positive adjusted EBITDA, with a year-over-year increase of 95%. However, the CEO expressed disappointment in the excessive, flat per-gram excise tax imposed by the Canadian government on legal cannabis businesses. The company also added Germany as its third export market for its Cannabis business, with higher-margin, rationally taxed export sales growing more than nine-fold year-over-year. The much-improved first quarter supports the company’s confidence in substantially improved financial performance from Fresh Produce this year.
Expands To Germany (2023/05/05)
Village Farms International has expanded Pure Sunfarms into Germany, collaborating with IUVO Therapeutics. Pure Sunfarms’ Pink Kush will be available to patients in Germany. Village Farms is focused on international cannabis strategy and has experienced growth in Australia, Israel, and Germany. The Pink Kush product has been a best-seller in Canada and Pure Sunfarms aims to offer high-quality cannabis products at competitive prices in Germany.
Image provided by Village Farms
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