HF Foods Announces CEO Transition
HF Foods Group (NASDAQ: HFFG), a leading food distributor to Asian restaurants across the United States, has appointed Felix Lin as Interim Chief Executive Officer (CEO). Lin, who will maintain his current roles as President and Chief Operating Officer (COO), replaces Peter Zhang. The transition is not related to any disagreement regarding financial reporting, policies, or practices. Zhang remains on the Board of Directors.
Lin has been a key leader at HF Foods for five years, previously serving as Interim CFO and Board member. His experience includes leadership roles at Blue Bird , where he oversaw various operational and strategic functions.
HF Foods Group (NASDAQ: HFFG), un importante distributore di alimenti per ristoranti asiatici negli Stati Uniti, ha nominato Felix Lin come Amministratore Delegato Interinale (CEO). Lin, che manterrà i suoi attuali ruoli di Presidente e Direttore Operativo (COO), sostituisce Peter Zhang. Il cambiamento non è legato a dissidi riguardanti la rendicontazione finanziaria, le politiche o le pratiche. Zhang rimane nel Consiglio di Amministrazione.
Lin è stato un leader chiave in HF Foods per cinque anni, avendo precedentemente ricoperto il ruolo di CFO Interinale e membro del Consiglio. La sua esperienza include ruoli di leadership in Blue Bird, dove ha supervisato varie funzioni operative e strategiche.
HF Foods Group (NASDAQ: HFFG), un destacado distribuidor de alimentos para restaurantes asiáticos en los Estados Unidos, ha nombrado a Felix Lin como Director Ejecutivo Interino (CEO). Lin, que mantendrá sus roles actuales como Presidente y Director de Operaciones (COO), reemplaza a Peter Zhang. La transición no está relacionada con ninguna discrepancia sobre informes financieros, políticas o prácticas. Zhang sigue formando parte de la Junta Directiva.
Lin ha sido un líder clave en HF Foods durante cinco años, habiendo ocupado previamente el cargo de CFO Interino y miembro de la Junta. Su experiencia incluye roles de liderazgo en Blue Bird, donde supervisó diversas funciones operativas y estratégicas.
HF Foods Group (NASDAQ: HFFG), 미국 전역의 아시아 음식점에 식품을 공급하는 주요 유통업체, Felix Lin을 임시 CEO로 임명했습니다. Lin은 현재의 사장 및 COO 직책을 유지하며, Peter Zhang을 대체합니다. 이번 전환은 재무 보고, 정책 또는 관행에 대한 의견 불일치와 관련이 없습니다. Zhang은 이사회에 남아 있습니다.
Lin은 HF Foods에서 5년 동안 핵심 리더로 활동했으며, 이전에는 임시 CFO 및 이사로 근무했습니다. 그의 경험에는 Blue Bird에서 운영 및 전략적 기능을 감독하는 리더십 역할이 포함됩니다.
HF Foods Group (NASDAQ: HFFG), un distributeur alimentaire de premier plan pour les restaurants asiatiques aux États-Unis, a nommé Felix Lin au poste de Directeur Général par intérim (CEO). Lin, qui conservera ses fonctions actuelles de Président et de Directeur des Opérations (COO), remplace Peter Zhang. Cette transition n'est pas liée à un désaccord concernant les rapports financiers, les politiques ou les pratiques. Zhang reste au Conseil d'Administration.
Lin est un leader clé chez HF Foods depuis cinq ans, ayant précédemment occupé le poste de CFO par intérim et membre du Conseil. Son expérience comprend des rôles de direction chez Blue Bird, où il a supervisé diverses fonctions opérationnelles et stratégiques.
HF Foods Group (NASDAQ: HFFG), ein führender Lebensmittelverteilungsunternehmen für asiatische Restaurants in den Vereinigten Staaten, hat Felix Lin zum interims CEO ernannt. Lin, der seine derzeitigen Rollen als Präsident und COO (Chief Operating Officer) beibehalten wird, ersetzt Peter Zhang. Der Übergang steht nicht im Zusammenhang mit Unstimmigkeiten bezüglich Finanzberichterstattung, Richtlinien oder Praktiken. Zhang bleibt im Vorstand.
Lin ist seit fünf Jahren eine Schlüsselperson bei HF Foods und hatte zuvor die Position des Interim-CFO und Vorstandsmitglieds inne. Seine Erfahrung umfasst Führungsrollen bei Blue Bird, wo er verschiedene operative und strategische Funktionen leitete.
- Seamless leadership transition with an experienced internal candidate
- New CEO maintains multiple roles (President, COO) indicating operational continuity
- Previous CEO remains on Board ensuring institutional knowledge retention
- Unexpected CEO change could create short-term uncertainty
Insights
This CEO transition at HF Foods Group appears to be a well-planned succession rather than a disruptive change. Felix Lin brings significant operational and financial experience, having served in multiple key roles including President, COO and previously as Interim CFO and Board member. His extensive background at Blue Bird and experience with Cerberus Capital Management suggests strong capabilities in operational management and corporate strategy.
The company's emphasis on continuity and Lin's existing involvement in major initiatives indicates minimal disruption to ongoing operations. His familiarity with HF Foods' transformation plan and relationships with key stakeholders should facilitate a smooth transition. The retention of former CEO Peter Zhang on the Board further supports operational stability.
For a
Current President and Chief Operating Officer Felix Lin Named Interim Chief Executive Officer
LAS VEGAS, Oct. 28, 2024 (GLOBE NEWSWIRE) -- HF Foods Group Inc. (NASDAQ: HFFG) (“HF Foods” or the “Company”), a leading food distributor to Asian restaurants across the United States, today announced the appointment of Felix Lin as Interim Chief Executive Officer (CEO). Mr. Lin assumes the role of CEO, in addition to his current roles of President and Chief Operating Officer (COO). Mr. Lin replaces HF Foods’ previous CEO, Peter Zhang. The leadership transition is not due to any disagreement with Mr. Zhang regarding the Company’s financial reporting, policies or practices. Mr. Zhang remains on the Board of Directors.
With extensive experience in operational management and financial strategy, Mr. Lin has been a pivotal leader at HF Foods for the past five years, contributing significantly through his roles on both the management team and the Board of Directors. In addition to his current roles of President and COO, he was previously a member of the Board of Directors and has served as Interim Chief Financial Officer. His contributions have been key in executing the Company’s transformation plan.
“Felix has been instrumental in shaping HF Foods’ strategic direction and operational execution as a core member of our executive team,” said Charlotte Westfall, HF Foods’ Lead Independent Director. “He has been a key decision-maker here at HF Foods, having already guided many of our most significant initiatives. Felix’s depth and breadth of experience, combined with his intimate knowledge of the business, will help lead the Company as Interim CEO during this critical time.”
Prior to HF Foods, Mr. Lin served as Vice President for Blue Bird Corporation, a leading school bus manufacturer in North America, where he oversaw human resources, corporate and operations training, government relations, compliance and strategy. Earlier in his career, Mr. Lin held leadership roles in Finance, Manufacturing Operations, Supply Chain and worked as a key member of the China and Middle East business development team for Blue Bird Corporation under Cerberus Capital Management, LLP. He served as an Independent Board Member for HF Foods from November 2019 to April 2022, where he served as Chairman of the Audit Committee and the Special Investigation Committee.
“I am grateful to the Board for this opportunity, and am excited to continue to build upon our strong foundation alongside our exceptional leadership team,” Mr. Lin said. “The relationships we’ve built with our best-in-class general managers, suppliers and customers have been central to our success, and they will remain crucial as we fortify our industry-leading position and capabilities. Through our continued focus on our transformation plan, we look forward to driving long-term value for all our stakeholders.”
About HF Foods Group Inc.
HF Foods Group Inc. is a leading marketer and distributor of fresh produce, frozen and dry food, and non-food products to primarily Asian restaurants and other foodservice customers throughout the United States. HF Foods aims to supply the increasing demand for Asian American restaurant cuisine, leveraging its nationwide network of distribution centers and its strong relations with growers and suppliers of fresh, high-quality specialty restaurant food products and supplies in the US, South America, and Asia. Headquartered in Las Vegas, Nevada, HF Foods trades on Nasdaq under the symbol “HFFG”. For more information, please visit www.hffoodsgroup.com.
Forward Looking Statements
All statements in this news release other than statements of historical facts are, or may be deemed to be, “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and contain our current expectations about our future results. We have attempted to identify any forward-looking statements by using words such as “aims,” “continues,” “expects,” “plans,” “will,” and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause the Company’s actual results, events or financial positions to differ materially from those included within or implied by such forward-looking statements. Such factors include, but are not limited to, risks disclosed under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements.
Contact:
ICR
Investors: Anna Kate Heller
Media: Keil Decker
hffoodsgroup@icrinc.com
FAQ
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