Eat Beyond Appoints Michael Aucoin, a Senior CPG and Food Industry Veteran, as CEO

Rhea-AI Summary

Eat Beyond Global Holdings Inc. has appointed Michael Aucoin as its new CEO, succeeding Patrick Morris, who led since 2019. Aucoin aims to position Eat Beyond as a major player in the $50 billion plant-based protein market, targeting North America and Europe. He plans to enhance technical innovation, research, and capacity-building projects to support portfolio companies. Morris is credited with establishing a solid foundation for future growth, leaving the company well-positioned for its new strategic direction.

Positive

• Appointment of Michael Aucoin as CEO brings over 25 years of industry experience.
• Focus on boosting the company's presence in the $50 billion plant-based protein market.
• Plans for technical innovation and capacity-building projects to enhance portfolio companies.

Negative

• Transition from a long-serving CEO may raise concerns about leadership continuity.

VANCOUVER, BC, July 19, 2021 /PRNewswire/ - Eat Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, is announcing the appointment of Michael Aucoin as the Company's new CEO, taking the place of Patrick Morris, who has served as Eat Beyond's CEO since its inception in the Fall of 2019. 

Aucoin will pilot Eat Beyond in a new direction, with a vision to establish the Company as a recognized leader in the $50 billion plant-based protein market, with a focus on North America and Europe, creating a substantial global entity that can help to address the barriers to greater consumer uptake of plant-based foods.

"We intend to compete in a wide cross-section of plant-protein verticals, as represented by our portfolio companies, with which we will work with closely to accelerate their success from an operational and value creation standpoint," Aucoin said.  "Eat Beyond is committed to leading the future of food and becoming the most successful Canadian plant-based food business operating globally."

Eat Beyond will place a particular focus on technical innovation, research, and investments in capacity-building projects. The Company is building the corporate infrastructure to accelerate the growth of its portfolio companies with marketing, sales, sourcing, manufacturing, and distribution capabilities.

"The team is very grateful to Patrick Morris for his work building a solid foundation and team for Eat Beyond. As he leaves to pursue other interests, he has left the organization in a strong position, poised for further growth," said Eat Beyond Chairman of the Board, Don Robinson. "I am pleased to welcome Mr. Aucoin to the team as CEO as we chart a new course in the plant-based sector, building a balanced portfolio that can deliver value to our portfolio companies and our investors while pushing the industry forward."

Aucoin has over 25 years of experience in food sales management and the consumer packaged goods industry. He comes to Eat Beyond having worked most recently as the Principal for MJA Consulting, where he focused on product launch, and market and corporate development. Prior roles include leadership roles at Advantage Solutions, Agropur, Hershey's, and Smuckers.  Aucoin holds an MBA from Queens University in Ontario, and a Bachelor of Science degree with Honours from the University of Ottawa in Ontario.

About Eat Beyond Global Holdings

Eat Beyond Global Holdings Inc. ("Eat Beyond") (CSE: EATS) (OTCPK: EATBF) (FSE: 988) is an investment issuer that makes it easy to invest in the future of food. Eat Beyond identifies and makes equity investments in global companies that are developing and commercializing innovative food tech as well as plant-based and alternative food products. Led by a team of food industry experts, Eat Beyond is the first issuer of its kind in Canada, providing retail investors with the unique opportunity to participate in the growth of a broad cross-section of opportunities in the alternative food sector, and access companies that are leading the charge toward a smarter, more secure food supply. Learn more: https://eatbeyondglobal.com/

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SOURCE Eat Beyond Global Holdings Inc.

FAQ

Who has been appointed as the new CEO of Eat Beyond Global Holdings?

Michael Aucoin has been appointed as the new CEO of Eat Beyond Global Holdings.

What is Michael Aucoin's experience in the food industry?

Michael Aucoin has over 25 years of experience in food sales management and the consumer packaged goods industry.

What is the company's focus under the new CEO?

The company will focus on becoming a leader in the $50 billion plant-based protein market, especially in North America and Europe.

What did Patrick Morris achieve as the previous CEO?

Patrick Morris built a solid foundation for Eat Beyond, positioning the company for future growth before leaving.

How will the new CEO impact Eat Beyond's growth strategy?

Michael Aucoin aims to enhance innovation and support portfolio companies, driving growth in the plant-based sector.