Fresh Del Monte Appoints Dr. Imad Farhat as SVP to Lead Specialty Ingredients Team, Focusing on Natural Ingredient Innovation

Rhea-AI Summary

Fresh Del Monte Produce Inc. (NYSE: FDP) has appointed Dr. Imad Farhat as Senior Vice President, Specialty Ingredients. Dr. Farhat will lead the company's efforts to develop innovative, nature-derived ingredients that align with Fresh Del Monte's mission of providing healthful products to consumers worldwide. His focus will be on:

1. Harnessing nature's power for long-term strategy in the ingredients industry
2. Developing products rooted in circular economy principles
3. Creating wholesome options that resonate with health-conscious consumers
4. Utilizing residuals from Fresh Del Monte's operations to achieve sustainable practices

Dr. Farhat brings nearly 20 years of experience from dsm-firmenich and has an extensive background in food science, with over 70 scientific publications and numerous patents.

Positive

• Appointment of an experienced executive (Dr. Imad Farhat) to lead specialty ingredients division
• Focus on developing innovative, nature-derived ingredients aligning with consumer health trends
• Potential for higher-margin products through value-added offerings
• Strategy to utilize operational residuals, potentially improving efficiency and sustainability
• Expansion into specialty ingredients market, diversifying revenue streams

Negative

• None.

Visionary executive joins Fresh Del Monte to advance the ingredients industry through nature-driven solutions

CORAL GABLES, Fla.--(BUSINESS WIRE)-- Fresh Del Monte Produce Inc. (NYSE: FDP), one of the world’s leading vertically integrated producers, marketers, and distributors of high-quality fresh and fresh-cut fruits and vegetables, announces today the appointment of Dr. Imad Farhat as Senior Vice President, Specialty Ingredients. Dr. Farhat will spearhead the company’s vision to develop groundbreaking ingredients, derived from both Fresh Del Monte’s portfolio and other agricultural products.

Dr. Farhat will focus on harnessing the power of nature to drive Fresh Del Monte’s long-term strategy in the ingredients industry. His focus will be on developing innovative, nature-derived ingredients that align with the company’s core mission of providing healthful products to consumers worldwide. By sourcing these products directly from nature, Fresh Del Monte continues its commitment to fostering a harmonious relationship between people, the products they consume, and the environment.

Leveraging his deep industry expertise and track record, Dr. Farhat will champion the development of a product portfolio rooted in the principles of a circular economy. By utilizing residuals generated from Fresh Del Monte’s operations, he will help the company achieve its broader goal of sustainable operations, ensuring that nothing goes to waste and every part of natural resources is maximized. In response to the growing consumer desire to return to nature for their well-being, Dr. Farhat’s efforts will focus on creating products that align with this shift, offering wholesome, nature-derived options that resonate with today’s health-conscious consumers.

“We are pleased to welcome Dr. Farhat to Fresh Del Monte. His expertise is a critical addition as we deepen our commitment to sustainable practices that harness the full power of nature,” said Mohammad Abu-Ghazaleh, Chairman and CEO of Fresh Del Monte. “We believe nature holds the blueprint for a harmonious and sustainable future, and Dr. Farhat’s innovative approach will be key in unlocking its boundless potential while also driving the development of value-added, higher-margin products that enhance consumer offerings.”

Dr. Farhat comes to Fresh Del Monte after nearly 20 years at dsm-firmenich, where he served as Senior Vice President, Taste for South Asia, the Middle East, and Africa, playing a defining role in key platforms for the company such as Sugar Reduction and Encapsulation. Prior to dsm-firmenich, he was an Associate Professor of Food Physical Chemistry at the University of Nottingham in the United Kingdom. Dr Farhat has authored more than 70 scientific publications and has an extensive patent portfolio in areas of food science.

ABOUT FRESH DEL MONTE

Fresh Del Monte Produce Inc. is one of the world’s leading vertically integrated producers, marketers, and distributors of high-quality fresh and fresh-cut fruit and vegetables, as well as a leading producer and distributor of prepared food in Europe, Africa, and the Middle East. Fresh Del Monte Produce Inc. markets its products worldwide under the DEL MONTE® brand (under license from Del Monte Foods, Inc.), a symbol of product innovation, quality, freshness, and reliability for over 135 years. The company also markets its products under the MANN™ brand and other related trademarks. Fresh Del Monte Produce Inc. is not affiliated with certain other Del Monte companies around the world, including Del Monte Foods, Inc., the U.S. subsidiary of Del Monte Pacific Limited, Del Monte Canada, or Del Monte Asia Pte. Ltd. Fresh Del Monte Produce Inc. is the first global marketer of fruits and vegetables to commit to the “Science Based Targets” initiative. In 2022, 2023 and 2024, Fresh Del Monte Produce was ranked as one of “America’s Most Trusted Companies” by Newsweek based on an independent survey rating companies on three different touchpoints, including customer trust, investor trust, and employee trust. The company was also named a Humankind 100 Company for two consecutive years by Humankind Investments, which recognizes companies that substantially impact areas such as access to food and clean water, healthcare, and digital services. Fresh Del Monte Produce Inc. is traded on the NYSE under the symbol FDP.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240905941076/en/

Claudia Pou

Vice President, Global Head of Corporate Communications

communications@freshdelmonte.com

Source: Fresh Del Monte Produce Inc.

FAQ

What is Dr. Imad Farhat's new role at Fresh Del Monte (FDP)?

Dr. Imad Farhat has been appointed as Senior Vice President, Specialty Ingredients at Fresh Del Monte Produce Inc. (NYSE: FDP).

What will be Dr. Farhat's main focus in his new position at Fresh Del Monte (FDP)?

Dr. Farhat will focus on developing innovative, nature-derived ingredients, harnessing the power of nature to drive Fresh Del Monte's long-term strategy in the ingredients industry.

How does Fresh Del Monte (FDP) plan to enhance sustainability through Dr. Farhat's appointment?

Dr. Farhat will champion the development of products rooted in circular economy principles, utilizing residuals from Fresh Del Monte's operations to ensure nothing goes to waste.

What is Fresh Del Monte's (FDP) strategy for addressing consumer trends with this appointment?

Fresh Del Monte aims to create wholesome, nature-derived products that align with the growing consumer desire for natural well-being solutions, responding to health-conscious consumer preferences.