Planet Based Foods Appoints CFO and Independent Director as Governance Reforms Progress

Core Viewpoint - Planet Based Foods Global Inc. is undergoing significant leadership and governance changes to enhance operational performance and rebuild investor confidence [1][2]. Leadership Changes - Supreet Sidhu has been appointed as the new Chief Financial Officer, succeeding Emrah Petorak, who is stepping down from the Board of Directors [2]. - Beata Jirava has been appointed as an independent director, contributing to the strengthening of the board [2]. Governance Reforms - The company has filed a petition with the Supreme Court of British Columbia to address the timing of its Annual General Meetings (AGMs) for the financial years ending December 31, 2023, and December 31, 2024 [3][4]. - The petition seeks court approval to host the 2023 and 2024 AGMs concurrently by December 31, 2025, and to retroactively deem the company compliant with AGM requirements once held [10]. Financial Context - The company faced historical financial constraints due to a decline in consumer interest in plant-based meats post-pandemic and an unsustainable cost structure [4]. - These challenges have been addressed through recapitalization, restructuring, and the introduction of a refreshed executive team [4]. Commitment to Governance - The steps taken by the company reflect its commitment to transparency, good governance, and sustainable value creation for all stakeholders [5]. Company Overview - Planet Based Foods Global Inc. focuses on sustainable ingredients and plant-based solutions, aiming to contribute to a cleaner and healthier global food system [6].