SunOpta Announces Upcoming Director Departure

Rhea-AI Summary

SunOpta Inc. (Nasdaq:STKL) announced the resignation of Ken Kempf from its Board of Directors, effective December 30, 2022, to pursue other business investments. Kempf, who joined the Board in June 2020, was instrumental in providing insights and served on the Audit and Compensation Committees. Board Chair Dean Hollis expressed gratitude for Kempf's contributions, while Engaged Capital's Glenn Welling reiterated their commitment as significant shareholders and confidence in SunOpta's growth potential. Engaged Capital has supported SunOpta for six years, aiding in its strategic positioning.

Positive

• Engaged Capital remains a significant shareholder, indicating investor confidence.
• SunOpta is positioned for continued growth and value creation, as stated by Engaged Capital.

Negative

• None.

MINNEAPOLIS--(BUSINESS WIRE)-- SunOpta Inc. (“SunOpta” or the “Company”) (Nasdaq:STKL) (TSX:SOY), a U.S.-based global pioneer fueling the future of sustainable, plant-based and fruit-based foods and beverages, today announced that Ken Kempf, a senior analyst at Engaged Capital, LLC (“Engaged Capital”), has informed SunOpta that he will resign from SunOpta’s Board of Directors (“Board”), effective December 30, 2022, to focus on other business investments.

Mr. Kempf joined the Board in June 2020 and has provided valuable insight and assistance to the Company and its Board. Mr. Kempf also served as a member of the Audit Committee and the Compensation Committee.

SunOpta’s Board Chair, Dean Hollis, said, "We thank Ken for his service to the Company and wish him success in his future endeavors. Engaged Capital has been an appreciated and committed investor for SunOpta and with its support for the past 6 years we have been able to position this business for a bright future."

Glenn Welling, founder and CIO of Engaged Capital, stated, “SunOpta has been a terrific investment for Engaged Capital. We are proud to have played a role in the Company’s evolution, including Ken’s participation as a member of the Board. We remain a significant shareholder and we are confident the business is well-positioned to continue to create shareholder value.”

About SunOpta Inc.

SunOpta (Nasdaq:STKL) (TSX:SOY) is a U.S.-based, global pioneer fueling the future of sustainable, plant-based and fruit-based food and beverages. Founded nearly 50 years ago, SunOpta manufactures natural, organic and specialty products sold through retail and foodservice channels. SunOpta operates as a manufacturer for leading natural and private label brands, and also proudly produces its own brands, including SOWN™, Dream™, West Life™ and Sunrise Growers™ For more information, visit www.sunopta.com, LinkedIn and Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221125005007/en/

Reed Anderson

ICR

646-277-1260

reed.anderson@icrinc.com

Source: SunOpta Inc.

FAQ

What changes are occurring on the SunOpta Board of Directors?

Ken Kempf is resigning from the SunOpta Board effective December 30, 2022.

Who was Ken Kempf and what was his role at SunOpta?

Ken Kempf joined the SunOpta Board in June 2020 and served on the Audit and Compensation Committees.

How long has Engaged Capital been associated with SunOpta?

Engaged Capital has supported SunOpta for the past six years.

What does Engaged Capital think about SunOpta's future?

Engaged Capital is confident that SunOpta is well-positioned to create shareholder value.