More key executives exit Chiquita
Last week, interim CEO Brian Kocher was dismissed and stands to receive $7.2 million in severance, a payment triggered by change-in-control provisions for the company, according to a federal Securities and Exchange Commission filing.
Joseph Johnson, Chiquita chief accounting officer, resigned effective April 17.
Six C-level executives at Chiquita have departed during the last three months. CEO Ed Lonergan left in January. Also gone are CFO Rick Frier; Kevin Holland, chief people officer; and James Thompson, general counsel.
The leadership of the still-Charlotte-based company is now apparently split between two new Chiquita employees. Since January, Andrew Biles, formerly of Dole Europe, has led the Chiquita’s banana and pineapple businesses.
In March, the company announced that Kenneth Diveley is the new CEO of its Fresh Express and Chiquita fresh solutions businesses. Diveley came from his own consulting company but is a veteran of PepsiCo International and Tropicana.
Chiquita has appointed Darcilo Santos as its new CEO. Santos comes from Safra Bank in Sao Paulo.
Meanwhile, Fyffes plc and Chiquita paid advisers a hefty $15.5 million in the unsuccessful $1 billion deal for Chiquita to buy Fyffes, according to an Irish Times newspaper report. Chiquita shareholders rejected that plan.
Cutrale and Safra Groups completed the $1.3 billion acquisition of Chiquita in January and then told local officials that Chiquita would leave Charlotte by the end of the year. That means about 130 jobs in the uptown tower would no longer be based in Charlotte. Spaces in the NASCAR Plaza parking deck have been much easier to find since the deal closed.
Source: bizjournals.com
