High Liner Foods appoints interim CEO following Hepponstall’s resignation
CANADA – High Liner Foods, a prominent Canada-based seafood company, has announced the appointment of its Chief Financial Officer (CFO), Paul Jewer, as the interim CEO.
This move comes in the wake of the resignation of the former CEO, Rod Hepponstall, which was disclosed last month.
Jewer’s assumption of the interim CEO role has resulted in Hepponstall’s immediate departure from the company.
Paul Jewer, who has been serving as the CFO since 2014, will continue to fulfil his duties in that capacity while taking on the additional responsibility of interim CEO.
The decision to appoint Jewer as the interim CEO was made as part of the company’s ongoing efforts to find a permanent replacement for Hepponstall.
Robert Pace, the Chair of the High Liner Foods board, expressed confidence in Jewer’s ability to provide stability and continuity during this transitional period.
“Paul’s extensive experience and proven track record of leadership with High Liner Foods will provide stability and continuity for the organization as we continue to work through the transition process,” he stated.
High Liner Foods is a publicly-listed company known for its diverse range of seafood products, including those sold under the High Liner, Fisher Boy, Mirabel, Sea Cuisine, and Catch of the Day labels.
Moreover, the company serves as a trusted supplier of private-label seafood to various North American food retailers and food service distributors.
“I am humbled and honoured to serve as the interim chief executive officer of this incredible organization,” Paul Jewer commented, expressing his gratitude for the opportunity.
“I look forward, in this interim period, to working with our great leadership group to build upon the solid foundation and momentum we have in place.”
Meanwhile, in its financial results for the 26 weeks ending on July 1, High Liner Foods reported a 6.4% increase in sales, reaching US$583.5 million.
However, adjusted EBITDA experienced a slight decline of 0.9%, amounting to US$53.2 million, while net income dropped by 41.1%, totalling US$19.8 million.
Looking back to 2022, High Liner Foods achieved sales of $1.07 billion, marking a significant increase of 22.2% compared to the previous year.
As the company navigates this pivotal period of leadership transition, stakeholders will be closely monitoring developments, including the search for a permanent CEO and the continued performance of the organization under Jewer’s interim leadership.
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