AgriFORCE Growing Systems Appoints Consumer Packaged Goods Industry Veteran, Mauro Pennella, as President AgriFORCE Brands and Chief Marketing Officer of AgriFORCE Growing Systems Ltd.

Rhea-AI Summary

AgriFORCE Growing Systems has appointed Mauro Pennella as the President of its AgriFORCE Brands division and Chief Marketing Officer. Pennella, a veteran with over 30 years in consumer products, will spearhead the company's brand initiatives across various agriculture sectors such as foods and plant-based products. With a focus on commercial strategy and brand marketing, his experience from McCain Foods and Combe Incorporated positions him as a key asset for AgriFORCE’s growth. Pennella expressed enthusiasm about joining at a pivotal time for the company, promoting sustainable and innovative agricultural solutions.

Positive

• Mauro Pennella brings over 30 years of experience in consumer packaged goods, which may enhance brand growth.
• Pennella's previous role at McCain Foods involved responsibilities in global marketing and sustainability, beneficial for AgriFORCE’s brand initiatives.
• His leadership is expected to strengthen AgriFORCE's competitive positioning in various agricultural verticals.

Negative

• Transitioning leadership may pose initial challenges in strategic continuity for the AgriFORCE Brands division.

Pennella to spearhead new consumer brand initiatives

VANCOUVER, British Columbia, July 20, 2021 (GLOBE NEWSWIRE) -- AgriFORCE Growing Systems Ltd. (“the Company")(NASDAQ: AGRI), an innovative agriculture-focused technology company that delivers reliable, financially robust solutions for high-value crops through proprietary facility design and automation, has appointed Mauro Pennella as President of the Company’s AgriFORCE Brands division and Chief Marketing Officer of AgriFORCE Growing Systems Ltd.

Mr. Pennella will be tasked with creating and growing the family of AgriFORCE’s product brands across multiple agricultural verticals, including foods, plant-based proteins, plant-based nutraceuticals, plant-based vaccines, and other targeted products, leveraging AgriFORCE’s cultivation IP. He will be responsible for the AgriFORCE Brands division commercial strategy, including brand marketing and competitive positioning, as well as advising on and integrating mergers and acquisitions.

Mr. Pennella is a consumer products veteran with more than 30 years of experience in the consumer-packaged goods industry. Prior to joining AgriFORCE, he was Chief Growth & Sustainability Officer at McCain Foods, a Canadian multinational frozen food company. In that role, he was responsible for global marketing, sales, research and development (R&D) and sustainability. Previous to that, Mr. Pennella served as the President, International of Combe Incorporated, a personal care products company where he oversaw the international division, R&D and the internal advertising agency. He was also a member of the Executive Committee at Combe Incorporated, where he was responsible for the P&L—overseeing eight subsidiaries with more than 100 employees around the world. Prior to that, Mr. Pennella led the Retail and International businesses at Conagra’s Lamb Weston division and developed his career at Diageo and Procter & Gamble. Mr. Pennella received a Master of Business from Audencia, a premier European business school, as well as an M.A.B.A. in Marketing and Finance from The Ohio State University Fisher College of Business.

“Mauro’s track record of growing sales and awareness for global food and consumer packaged goods brands will be instrumental in AgriFORCE’s success,” commented Ingo Mueller, CEO of AgriFORCE. “He is a successful industry veteran that shares our passion for creating healthier, more sustainable ways of feeding and healing the planet using the latest technological innovations in agriculture. His appointment is especially timely as we advance a variety of initiatives to leverage our agricultural production solutions by launching new and healthy consumer-branded products. He will be responsible for the strategy, planning, organizing, staffing, and training needed to achieve our vision.”

Mr. Pennella stated, “I am excited to join what I believe is an incredibly well positioned company at a key inflection point. AgriFORCE has developed a first-of-its-kind precision ecosystem that I believe will cost-effectively yield the cleanest, greenest and most flavorful produce available, as well as consistent medical grade plant-based nutraceuticals and pharmaceuticals. I am eager to apply my knowledge of the packaged goods industry to help drive growth and create substantial market share for AgriFORCE’s portfolio of products.”

About AgriFORCE

AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI) is an agriculture-focused technology company that develops and acquires intellectual property systems that are intended to deliver innovative, reliable and financially robust solutions for high-value crops through its proprietary facility design and automation intellectual property to businesses and enterprises. The Company intends to operate in the plant-based pharmaceutical, nutraceutical, and other high-value crop markets using its unique proprietary facility design and hydroponics-based automated growing system that enable cultivators to effectively grow crops in a controlled environment. The Company calls its facility design and automated growing system the “AgriFORCE grow house.” The Company has designed its AgriFORCE grow house to produce in virtually any environmental condition and to optimize crop yields to as near their full genetic potential possible, while substantially eliminating the need for the use of pesticides and/or irradiation.

Additional information about the Company is available at: www.agriforcegs.com.

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Company Contact:
Ian Pedersen
Tel: (604) 757-0952
Email: ipedersen@agriforcegs.com

Investor Relations:
Crescendo Communications, LLC
David Waldman/Natalya Rudman
Tel: (212) 671-1021
Email: AGRI@crescendo-ir.com

Media Relations:
AHA Creative Strategies Inc.
Ruth Atherley
Tel: (604) 846-8461
Email: ruth@ahacreative.com

FAQ

Who is Mauro Pennella and what is his role at AgriFORCE?

Mauro Pennella is appointed as the President of AgriFORCE Brands and Chief Marketing Officer, responsible for brand initiatives and commercial strategy.

What experience does Mauro Pennella bring to AgriFORCE?

Pennella has over 30 years of experience in consumer packaged goods, including roles at McCain Foods and Combe Incorporated.

What are AgriFORCE's brand initiatives under Pennella?

Pennella will focus on developing AgriFORCE's product brands in sectors like foods, plant-based nutraceuticals, and medical products.

How might Pennella's appointment impact AgriFORCE's stock (AGRI)?

His extensive background in brand marketing may positively influence AgriFORCE's market share and growth, potentially affecting stock performance.