Financial Release Details

SANTA CLARA, Calif., July 30, 2019 (GLOBE NEWSWIRE) -- Landec Corporation (Nasdaq: LNDC), a diversified health and wellness company, with two operating businesses, Curation Foods, Inc. and Lifecore Biomedical, Inc., is proud to announce that it will nominate for election at its 2019 Annual Meeting of Shareholders two new members to Landec’s Board of Directors: Craig Barbarosh, an experienced public company board member and business leader with a track record of strategic leadership, and Charles Macaluso, who brings long-term food industry and financial expertise.

Other nominees for election as Class 2 directors at the 2019 Annual Meeting of Stockholders to be held on October 16, 2019 will be Dr. Albert Bolles, president and CEO of Landec, Tonia Pankopf and Debbie Carosella. Robert Tobin has announced he will retire from the board after 15 years of service. 

“We greatly appreciate all of Bob’s contributions to our business over the years and his commitment to the transformation of our Curation Foods business,” stated Dr. Bolles. “With his departure and the resignation of Molly Hemmeter in May, we’ve been given the opportunity to add new talent and depth of experience to our board of directors to support Landec’s short-term and long-term financial goals.”

Both new nominees have a proven history of building great teams to drive focused, high-impact growth. Their demonstrated commitment to innovation, operational excellence and productivity aligns with Dr. Bolles’ recently unveiled priorities platform. Craig Barbarosh brings broad strategic leadership experience with deep healthcare knowledge, having served on several public companies’ boards of directors, including current board positions with NextGen Healthcare, Inc., and Sabra Health Care REIT, Inc. He has been recognized for successes in business strategy, operational excellence, corporate governance and capital markets transactions. Charles Macaluso, with more than four decades of cross-industry experience, brings insight and knowledge from an array of industries, including food and health & wellness. Macaluso’s business acumen is strengthened by his background in finance and diversified investment practices and management. He currently holds positions on other boards of directors, including Darling Ingredients, Inc., Pilgrim’s Pride Corporation, and Williams Industrial Services Group, Inc. Macaluso previously held positions with Investment Limited Partners, LLP, Miller Associates, Inc. and The Airlie Group LP.
              
“We welcome Craig and Charles to our team. Their respective financial and industry expertise will strengthen our board and ensure we maintain the highest standards in everything we do,” said Dr. Bolles. “They will bring fresh and knowledgeable perspectives to the table with new ideas that align with our innovation-forward culture, as we look to deliver long-term shareholder value in executing against our profitable growth path for Curation Foods and continued success for Lifecore as a highly differentiated CDMO.”  

The announcement underscores Landec’s commitment to advancing the strategic pillars of growth outlined by Landec’s CEO to drive profitable growth for the Curation Foods business including: instituting a focused strategy on high-impact projects to drive positive EBITDA growth; a commitment to innovation, high productivity and operational excellence; and continued efforts in sustainable business practices.

About Landec Corporation
Landec Corporation (Nasdaq: LNDC) is a leading innovator of diversified health and wellness solutions with two operating businesses: Curation Foods, Inc. and Lifecore Biomedical, Inc.Curation Foods is focused on innovating and distributing plant-based foods with 100% clean ingredients to retail, club and foodservice channels throughout North America. Curation Foods is able to maximize product freshness through its geographically dispersed family of growers, refrigerated supply chain and patented BreatheWay^® packaging technology. Curation Foods brands include Eat Smart^® fresh packaged vegetables and salads, O Olive Oil & Vinegar® premium artisan products, and Yucatan^® and Cabo Fresh^® avocado products. Lifecore Biomedical is a fully integrated contract development and manufacturing organization (CDMO) that offers highly differentiated capabilities in the development, fill and finish of difficult to manufacture pharmaceutical products in syringes and vials. As a leading manufacturer of premium, injectable grade Hyaluronic Acid, Lifecore brings 35 years of expertise as a partner for global and emerging biopharmaceutical and biotechnology companies across multiple therapeutic categories to bring their innovations to market. For more information about the company, visit Landec’s website at www.landec.com.

Source: Landec Corporation