Mexican dairy company Grupo Lala has announced its chief executive officer Mauricio Leyva will step down at the end of the year.
Leyva has held the CEO position since September 2018.
In a statement, Lala said the company’s results for the fiscal year “have fallen short of stated goals and objectives”. Lala’s board of directors has begun a process to identify and appoint a new CEO.
The company has reappointed Arquímedes Celis Ordaz to the role of CEO on an interim basis.
Celis, who retired as Lala’s CEO in 2015, first joined the company in 2001. During his tenure at the helm, Lala grew sales organically by 11.6% and EBITDA by 11.2% annually.
Group Lala said Celis has more than 37 years of experience in related senior management roles “with extensive experience in sales, marketing and operations”. Celis also serves on the board of directors of Pilgrim’s Pride Corporation.
Earlier this year, Grupo Lala relocated its corporate headquarters to the WeWork Santa Fe complex in Mexico City.
Source: FoodBev
McCain Foods has completed the acquisition of Irish plant-based frozen food manufacturer Strong Roots. The acquisition follows McCain and Strong Roots’ strategic partnership, which began in 2021 and resulted from a $55 million investment.
Cargill partners with Voyage Foods to scale up alternatives to cocoa-based products to meet consumers’ indulgence needs. The commercial partnership will also provide food manufacturers with nut spreads produced with no nut or dairy allergens used in the recipe formulation.
L’Occitane International owner Reinold Geiger is reportedly close to taking the company private in a deal with Blackstone. The French skin care company’s filing halted trading of its Hong Kong-listed shares this week. This is the second time in months that the Australian billionaire has attempted a buyout.
