Mission Produce Reveals Ceo Transition As Sales Hit $1.4bn 

Credit: phtash/Shutterstock.com.

Mission Produce has promoted John Pawlowski to caput up nan US-based avocado and mango supplier arsenic CEO.

Pawlowski, who is presently president and main operating officer, will return up nan domiciled astatine nan adjacent of nan company’s yearly gathering of shareholders successful April.

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He will succeed founder and existing CEO Steve Barnard, who moves to nan position of executive president and will supply “strategic oversight”.

Pawlowski joined Mission Produce successful April 2024. He has antecedently served arsenic president and COO of Lipari Foods. He besides spent much than 16 years astatine CPG elephantine JM Smucker, including arsenic vice president of its world division.

The activity alteration was announced alongside Mission Produce’s full-year results.

Annual gross roseate 13% to $1.39bn successful nan 12 months to 31 October.

Mission Produce attributed nan maturation to “strong execution” successful its trading and distribution business and “significantly higher” yields from its Peruvian orchards sitting wrong nan world farming division.

Net income attributable to nan institution roseate 3% to $37.7m, aliases $0.53 per diluted stock versus $0.52 a twelvemonth earlier. Adjusted EBITDA besides accrued 3% to $110.8m.

In nan 4th quarter, full gross fell 10% to $319m, chiefly reflecting little pricing successful trading and distribution.

The institution said a 27% driblet successful mean per-unit avocado income prices was partially offset by a 13% summation successful avocado volumes.

Net income attributable to Mission Produce for nan 4th was $16m, aliases $0.22 per diluted share. Comparable figures were $17.3m and $0.24.

Adjusted EBITDA for nan 4th roseate 12% to $41.4m, supported by accrued avocado accumulation successful world farming and higher avocado volumes successful trading and distribution.

For nan first 4th of nan caller fiscal year, nan institution expects avocado volumes to summation astir 10% and prices to beryllium astir 25% little than nan prior-year period.

Barnard said: “We participate fiscal 2026 pinch beardown financial momentum and a very patient equilibrium sheet. We generated much than $180m of operating rate travel complete nan past 2 years.

“With our dense superior finance rhythm now complete and superior expenditures expected to measurement down to astir $40m successful fiscal 2026, we are positioned to accelerate free rate travel generation, which provides america pinch awesome elasticity to create worth for our shareholders.”