USA – The American organic and natural products company, Hain Celestial has appointed Javier Idrovo as its new chief financial officer (CFO) and executive vice president, effective from 2 December.
Idrovo will succeed James Langrock, who has served as the company’s CFO for the past several years. Langrock will remain at the Company through the end of the year to assist with the transition and support other Company initiatives.
Idrovo brings with him an extensive background in corporate finance, strategy, and business development with nearly 30 years of executive leadership, strategy formulation and oversight, financial planning and analysis, accounting and treasury experience.
He has held leadership positions at The Hershey Company, serving most recently as chief accounting officer, Senior Vice President, Finance and Planning as well as Senior Vice President, Strategy and Business Development.
Prior to joining The Hershey Company, Idrovo held roles of increasing responsibility at Dole Food Company including chief financial officer and then President of Dole Packaged Foods.
Earlier in his career, he worked at The Boston Consulting Group where he was responsible for analyzing issues of business strategy and operational effectiveness, and recommending and implementing strategic solutions.
“I am excited to welcome Javier to Hain Celestial. He has a strong financial and strategic background and deep industry experience, which will help him make an immediate impact at Hain Celestial,” said Mark L. Schiller, Hain Celestial’s President and Chief Executive Officer.
“He joins us at an ideal time as we accelerate our efforts to simplify our organization, standardize key processes and eliminate inefficient spending.”
“James has been an integral member of our executive team having led our financial team during our transformation.
“On behalf of our management team and Board of Directors, I would like to thank him for his many contributions in my onboarding and helping us to build a stronger foundation to pave the way for our successful turnaround,” commented Mr. Schiller.
Idrovo will further help the company to implement its robust, multi-year pipeline as the company prepares to launch new yogurt, tea, snacks among other products in the coming months – replacing many of the underperforming products.
Over the past year, Hain Celestial has taken significant steps to simplify the business, including eliminating nearly 10% of its stock-keeping units globally and divesting nonstrategic brands with sales of almost US$750 million.
New products on tap this year include meat alternatives, Celestial Seasonings TeaWell, a range of teas infused with a blend of herbs and botanicals that aid in digestion, immune support and mental vitality, according to the company.
Hain Celestial, however, widened its net loss in the quarter ended September 30th to US$107 million from a loss of US$37.43 million posted a year ago partly due to a 7% decline in net sales to US$482 million.
