Davis, California, USA
September 9, 2021
Company seeks new CEO as it further expands into consumer packaged goods; Matt Plavan to step down when successor is named
Arcadia Biosciences, Inc.® (Nasdaq: RKDA), a producer and marketer of innovative, plant-based health and wellness products, announced that it has launched a national search for a new Chief Executive Officer as the company further expands into the consumer packaged goods (CPG) sector. CEO Matt Plavan will step down from the role once a successor is named, which is expected to occur by the end of the year.
Plavan joined Arcadia in 2016 as Chief Financial Officer and has served as Chief Executive Officer since 2019, overseeing the company’s successful transition from an agricultural biotechnology trailblazer to a dynamic consumer products company focused on products in on-trend categories with significant growth potential.
“The progress we have made in a remarkably short period of time after planting the flag as a CPG company has been extraordinary, and it’s a testament to the talent and commitment of our team,” said Plavan. “With a portfolio of plant-based, better-for-you food and wellness products now in place and under development, Arcadia is well-positioned to leverage its innovation-oriented heritage, elevate its brands and further penetrate the consumer health and wellness categories. Having reached this pivotal point, the timing makes sense to begin the process of transitioning to a new leader with deep experience running successful CPG organizations who will be able to build on the company’s momentum, accelerate speed-to-market and capitalize on the tremendous growth opportunities ahead.”
“Matt has deftly led Arcadia through a critical transformational phase, as we transitioned our focus from developing to commercializing a portfolio of specialty wheat ingredients, while, at the same time, acquiring and integrating additional food and wellness brands,” said Arcadia Chairman, Kevin Comcowich. “His talent, energy and dedication – particularly in the face of a global pandemic – have paved the way for significant long-term growth and value creation. We look forward to his ongoing support as we work towards this leadership transition and the passing of the baton to a CPG-industry veteran for Arcadia’s next chapter.”
About Arcadia Biosciences, Inc.
With origins as a trailblazing developer of science-based approaches to enhancing the quality and nutritional value of crops and food ingredients, Arcadia Biosciences (Nasdaq: RKDA) is now a producer of innovative, plant-based health and wellness products, within the portfolios of GoodWheat™ and Lief™, which includes popular brands Soul Spring™, ProVault™, Saavy Naturals® and Zola® coconut water. The company’s growing number of innovative offerings are designed to enhance quality and health benefits in an array of consumer product categories. For more information, visit www.arcadiabio.com.
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