Freshpet Finance Chief Steps Down; Co. Reaffirms FY22 Outlook

Freshpet Inc FRPT said its Chief Financial Officer Heather Pomerantz has decided to step down to pursue other opportunities effective September 7, 2022.
The company has appointed Dick Kassar as the interim CFO.
EVP of Manufacturing, Steve Weise, whose intention to retire was announced earlier, will remain with the company in a consulting role through 2023 to support improvements in the quality assurance systems and other components of the manufacturing and supply chain.
FRPT also noted that Jay Dahlgren is now serving as a consultant focusing on mitigating manufacturing and supply chain risks.
VP of Manufacturing Ricardo Moreno will be appointed Senior Vice President of Manufacturing & Engineering.
SVP of Engineering Michael Hieger will broaden his responsibilities to include all capital expansion projects and engineering resources and report to Moreno.
Outlook: Freshpet reiterated FY22 sales of more than $575 million, about a 35% increase from 2021.
It expects adjusted EBITDA of more than $48 million and capital expenditure of $320 million.
Price Action: FRPT shares are trading lower by 6.53% at $38.33 on the last check Wednesday.

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