Avocado producer and distributor Mission Produce has named SpartanNash CEO Tony Sarsam to its board of directors, according to a Thursday announcement from the California-based fruit company.
Sarsam will join Mission’s board on Aug. 14 and serve a term set to expire at the company’s 2024 annual meeting of stockholders. His appointment will boost the size of Mission’s board to nine directors.
Sarsam is joining Mission’s board as the company looks to rebound from what CEO Stephen Barnard described in a February letter to shareholders as a “challenging year.” Mission posted a net loss of $42 million during fiscal 2022 even as revenue grew 17% year-over-year, to $1.05 billion.
The company, which in addition to Hass avocados supplies mangos and blueberries to retail, wholesale and foodservice customers in more than 25 countries, reported $221.1 million in revenue in the second quarter, a 20% drop compared with the same period a year ago. Mission generated a net loss of $4.6 million during the quarter, which ended April 30.
Sarsam, a CPG veteran who was named CEO of SpartanNash in September 2020, has executive-level experience at a variety of food companies, including Borden Dairy, which he led through Chapter 11 bankruptcy, Ready Pac Foods and Nestlé’s pizza and ice cream operations.
“I believe Tony’s success in driving corporate performance and aligning capabilities with established growth objectives can support our progress toward our business and financial goals,” Barnard said in a statement. “His deep understanding of various business functions — including operations, supply chain, marketing, finance, sales, and corporate strategy — will provide our board and executive leadership team with invaluable insight and perspective.”