Calavo Growers, Inc. Names Shawn Munsell CFO

Rhea-AI Summary

Calavo Growers (Nasdaq: CVGW) has appointed Shawn Munsell as Chief Financial Officer, effective June 20, 2022. Munsell brings over 20 years of finance experience, having previously served as Senior VP of Finance for Tyson Foods' chicken segment, with revenues of $14 billion in 2021. His background includes roles at CF Industries, enhancing his credentials. Both Munsell and Calavo’s CEO express excitement about the opportunity for operational improvements and growth during a crucial phase for the company.

Positive

• Appointment of Shawn Munsell as CFO brings extensive finance experience.
• Munsell's role expected to drive operational efficiency and long-term growth.

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• None.

SANTA PAULA, Calif., June 09, 2022 (GLOBE NEWSWIRE) -- Calavo Growers, Inc. (Nasdaq-GS: CVGW), a global avocado-industry leader and provider of value-added fresh food, today announced that Shawn Munsell has been appointed Chief Financial Officer effective June 20.

Prior to joining Calavo, Mr. Munsell led the finance and accounting functions for Tyson Foods’ chicken segment, with fiscal 2021 revenues of $14 billion, as Senior Vice President of Finance and Accounting. Previously, he served as Tyson’s Treasurer. Prior to Tyson, Mr. Munsell was with CF Industries, serving in a variety of roles with progressive responsibility for the nitrogen products manufacturer.

“We’re thrilled to have Shawn Munsell join the Calavo team,” said Brian W. Kocher, President and Chief Executive Officer of Calavo Growers, Inc. “Shawn is a results-oriented leader with a breadth of finance experience. He has demonstrated his dedication and loyalty by accumulating more than 20 years of operational finance and treasury experience with his two previous companies in the food and commodities industries. We’re looking forward to the strong leadership and contributions Shawn will make in the years to come as we continue driving sequential improvement throughout our business.”

“Joining Calavo in the early stages of a turnaround with the opportunity to positively affect change and impact results is very exciting,” Mr. Munsell said. “There is a talented team in place, and I’m confident that together we can refine processes, create efficiencies and position Calavo for long-term growth.”

Professional Background of Shawn Munsell

• Senior Vice President, Finance and Accounting, Chicken Segment – Tyson Foods
• Vice President, Treasurer – Tyson Foods
• Vice President, Financial Evaluation and Analysis, and Corporate Treasurer – CF Industries
• Corporate Treasurer and Assistant Secretary – CF Industries
• Director, Raw Materials Procurement – CF Industries
  

Mr. Munsell holds a bachelor’s degree in economics with high honors from the University of Michigan – Flint and an MBA with honors from the University of Chicago Booth School of Business.

About Calavo Growers, Inc.
Calavo Growers, Inc. (Nasdaq: CVGW) is a global leader in quality produce, including avocados, tomatoes and papayas, and a pioneer of healthy fresh-cut fruit, vegetables and prepared foods. Calavo products are sold under the trusted Calavo brand name, proprietary sub-brands, private label and store brands.

Founded in 1924, Calavo has a rich culture of constant innovation, sustainable practices and market growth. The company serves retail grocery, foodservice, club stores, mass merchandisers, food distributors and wholesalers worldwide. Calavo is headquartered in Santa Paula, California, with processing plants and packing facilities throughout the U.S. and Mexico. Learn more about The Family of Fresh™ at calavo.com.

Safe Harbor Statement
This press release contains statements relating to future events and results of Calavo that are "forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995, that involve risks, uncertainties and assumptions. These statements are based on our current expectations and are not promises or guarantees. If any of the risks or uncertainties ever materialize or the assumptions prove incorrect, the results of Calavo may differ materially from those expressed or implied by such forward-looking statements and assumptions. The use of words such as "anticipates," "estimates," "expects," "projects," "intends," "plans" and "believes," among others, generally identify forward-looking statements.

For a discussion of the risks and uncertainties that we face, please see the risk factors described in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent updates that may be contained in our Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Forward-looking statements contained in this press release are made only as of the date of this press release, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Contact	Media Contact
Julie Kegley, Senior Vice President	Thomas Federl, VP Communications, Marketing & ESG
Financial Profiles, Inc.	Calavo Growers, Inc.
calavo@finprofiles.com	Thomas.Federl@calavo.com
310-622-8246	843-801-4174

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d78c4fd0-ea0c-4461-bd2c-de1ec4931dab

FAQ

Who has been appointed as the new CFO of Calavo Growers?

Shawn Munsell has been appointed as the new CFO of Calavo Growers, effective June 20, 2022.

What is Shawn Munsell's previous experience before joining Calavo?

Shawn Munsell previously served as Senior VP of Finance and Accounting for Tyson Foods' chicken segment and held various roles at CF Industries.

What is the significance of Shawn Munsell's appointment for Calavo Growers?

His appointment is seen as a positive step for operational improvements and is expected to contribute to the company's turnaround efforts.

What are the future prospects for Calavo Growers under new CFO Shawn Munsell?

Munsell aims to refine processes, create efficiencies, and position Calavo for long-term growth.