Goodfood Announces CEO Transition and New Board Chair

Management Changes - Goodfood Market Corp. announced significant changes in its management and board of directors, with co-founder Jonathan Ferrari stepping down as Chair and CEO, effective immediately, while remaining a director on the Board [1] - Neil Cuggy, co-founder, will continue as President and COO, overseeing daily operations and assisting the Board in a formal operating review aimed at enhancing the company's long-term strategy [2] - Selim Bassoul has been appointed as the new Chair of the Board, bringing extensive leadership experience from his roles at Six Flags Entertainment Corporation and other companies [3] Strategic Focus - The operating review initiated by the Board aims to secure a sustainable competitive edge and reinforce Goodfood's business model for its next critical phase [2] - Mr. Bassoul expressed enthusiasm for supporting Goodfood's innovation and long-term value, highlighting the company's potential despite facing challenges in a competitive market [4] Company Overview - Goodfood is recognized as Canada's leading digitally native meal solutions brand, providing fresh meals and add-ons to customers nationwide, while connecting partner farms and suppliers directly to consumers [5] - The company is headquartered in Montreal, Québec, with production facilities in Quebec and Alberta, focusing on reducing food waste and retail overhead [5]