Freshpet Makes Changes for Operational Improvement

Freshpet Inc. has announced several actions as part of its operational improvement plan launched that was launched in August of 2022.

Walter George, current Chair of the Nominating, Governance, and Sustainability Committee of the Board, will be appointed the new independent Chair of the Board effective immediately following the Company’s 2023 Annual Meeting of Shareholders (scheduled for July 25, 2023).

To align with the Company's director retirement policy, Charles Norris, chair of the Board, will not stand for reelection at the 2023 Annual Meeting. Former Conagra Chief Supply Chain Officer David B. Biegger has also been appointed to the Board of Directors. Biegger will serve on the Board’s Audit Committee.

“As Freshpet builds upon the strong operational improvements we have made over the past year, ensuring that our Board has the skills and expertise to oversee the strategy and execution of the business is paramount,” said George. “We are thrilled to welcome Dave, a seasoned supply chain and operations leader with deep domain knowledge and a clear understanding of the complexities of the CPG industry. His guidance and oversight will prove invaluable as we advance plans to deliver margin improvements and drive profitability to enhance shareholder value.”

Freshpet’s operational improvement plan was developed by the company’s Board and management team, and contains a roadmap to add manufacturing and supply chain expertise and a strategy to improve quality, efficiency, and profitability. The plan builds upon the Company's actions to strengthen its organizational structure and management, including the appointment of Todd Cunfer as CFO, Jay Dahlgren as EVP of Manufacturing, Technology, and Supply Chain, and Dirk Martin as VP of Customer Service & Logistics. These executives have helped drive continued improvements across logistics, commodities, quality, and other operational areas, further improving fill rate, logistics cost efficiencies, and lower disposal levels.

“We would also like to thank Charlie for his dedication to Freshpet and his leadership of the Board since the initial founding. During Charlie’s tenure, Freshpet began revolutionizing an industry with little innovation for 50 years," added George. "His guidance and insights have contributed significantly to Freshpet’s success and evolution, and he has helped position us to build on our momentum and capture many opportunities ahead.”

Biegger said that he is thrilled to join Freshpet’s Board. "I have followed the company’s progress for years and believe that it is a true innovator in a rapidly growing industry. Consumers love Freshpet’s products and uncompromising quality, and as a result, the business has delivered outstanding growth for over a decade. Looking ahead, I see a significant opportunity to build on this momentum and continue to enhance growth and profitability to support the Company’s success.”