Arcadia Biosciences (RKDA) Appoints Seasoned CPG Sales Executive Brian Schaffer to Senior Vice President of Sales

Rhea-AI Summary

Arcadia Biosciences (Nasdaq: RKDA) has appointed Brian Schaffer as Senior Vice President of Sales to spearhead the retail launch of its GoodWheat brand in 2022. Schaffer brings extensive experience from top CPG firms like PepsiCo and Kellogg's, enhancing the company's strategy in a competitive market. His predecessor, Chris Cuvelier, will leave the company on November 30 to pursue other opportunities. This leadership change aims to bolster growth in Arcadia's plant-based health products, including Zola coconut water and Saavy Naturals.

Positive

• Appointment of Brian Schaffer as SVP of Sales may bring fresh perspectives and expertise.
• Schaffer has a strong track record in CPG sales and leadership, expected to accelerate GoodWheat's retail launch.
• Continued focus on plant-based products aligns with market trends, potentially increasing consumer interest and sales.

Negative

• Departure of Chris Cuvelier may raise concerns about continuity and strategic direction.
• The competitive retail environment presents challenges for establishing new brands.

DAVIS, Calif., Nov. 22, 2021 /PRNewswire/ --  Arcadia Biosciences, Inc.^® (Nasdaq: RKDA), a producer and marketer of innovative, plant-based health and wellness products, announced it has named Brian Schaffer as senior vice president of sales, as the company continues to expand its consumer goods platforms.

A seasoned sales and general management executive with deep CPG experience, Schaffer has a proven track record of building and leading world class sales organizations. He is tasked with driving the retail launch of Arcadia's GoodWheat brand, a company priority in 2022 as it works to build out its portfolio of plant-based, better-for-you products.

"Brian's expertise comes at a critical time for the company, as we establish our brands in an increasingly competitive and rapidly evolving retail environment," said Matt Plavan, Arcadia CEO. "I'm confident in Brian's commitment to lead our sales team and execute a successful retail launch of GoodWheat, leveraging his retail channel relationships, proven leadership and growth-oriented mindset. His experience and passion for building brands will enable us to continue to grow Zola^® coconut water and our portfolio of natural body care products including Saavy Naturals^®, SoulSpring™ and ProVault™." 

With a CPG pedigree that includes leadership roles at PepsiCo and Kellogg's, Schaffer possesses comprehensive knowledge across categories, channels of trade and go-to-market systems. Throughout his extensive career, he has successfully developed and executed growth strategies for brands including Keebler Chips Deluxe, Cheez It, Gatorade, Tropicana, Quaker Foods & Snacks and On The Border tortilla chips and salsas. 

"I am delighted to join a dynamic, world class team," said Schaffer. "The impressive work that's been done by the team thus far has readied the innovative GoodWheat products for launch, and I'm excited to build the brand at retail. In addition, I see significant opportunity for continued retail growth of the existing Arcadia portfolio of on-trend, plant-based beverage and body care products."

Arcadia's chief growth officer, Chris Cuvelier, will be leaving the company effective November 30 to pursue other opportunities. "I am proud of the work we have done at Arcadia to integrate Zola and the body care brands into our portfolio of wellness products and set the foundation for continued growth," said Cuvelier. "Brian is a strong addition to our leadership team with his proven ability to build and successfully execute CPG sales strategies, and I am confident he will continue to successfully build on the foundation we have set." 

About Arcadia Biosciences, Inc.   
With origins as a trailblazing developer of science-based approaches to enhancing the quality and nutritional value of crops and food ingredients, Arcadia Biosciences (Nasdaq: RKDA) is now a producer of innovative, plant-based health and wellness products, including GoodWheat™, Soul Spring™, ProVault™, Saavy Naturals^® and Zola^® coconut water. The company's growing number of offerings are designed to enhance quality and health benefits in an array of consumer product categories. For more information, visit www.arcadiabio.com.

Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the retail launch of GoodWheat, sales growth and product awareness and innovation. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to: Arcadia's and its partners' and affiliates' ability to develop commercial products incorporating their traits, and complete the regulatory review process for such products; customer demand and commercial success of such products; Arcadia's compliance with laws and regulations that impact Arcadia's business, including the sale of products containing CBD, and changes to such laws and regulations; Arcadia's future capital requirements and ability to satisfy its capital needs; Arcadia's ability to develop, enforce and defend its intellectual property rights; and the other risks set forth in Arcadia's filings with the Securities and Exchange Commission from time to time, including the risks set forth in Arcadia's Annual Report on Form 10-K for the year ended December 31, 2020 and other filings. These forward-looking statements speak only as of the date hereof, and Arcadia Biosciences, Inc. disclaims any obligation to update these forward-looking statements.

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SOURCE Arcadia Biosciences, Inc.

FAQ

Who is the new Senior Vice President of Sales for Arcadia Biosciences (RKDA)?

Brian Schaffer has been appointed as the new Senior Vice President of Sales.

What is Brian Schaffer's background before joining Arcadia Biosciences?

Brian Schaffer has extensive experience in consumer packaged goods (CPG) and held leadership roles at PepsiCo and Kellogg's.

What significant leadership change occurred at Arcadia Biosciences (RKDA) recently?

Chris Cuvelier, the chief growth officer, will leave the company effective November 30.

What are the expectations for the GoodWheat brand under Brian Schaffer's leadership?

Brian Schaffer is expected to drive the retail launch of GoodWheat and leverage his expertise to enhance brand growth.

How does Schaffer's appointment impact Arcadia Biosciences' market strategy?

His appointment is anticipated to strengthen the company's position in the competitive retail space and boost sales growth.