VANCOUVER - Village Farms International, Inc. (NASDAQ: NASDAQ:VFF), a leading producer of high-growth, plant-based consumer packaged goods, announced today the appointment of Carolyn Hauger to its Board of Directors. Hauger, with over 35 years of experience in finance and operations, will also be a candidate for election at the company's annual shareholder meeting in June 2024.
Hauger's extensive background includes serving as CFO for various companies, where she has played a pivotal role in operational optimization and innovation strategies. She is currently the CFO at Ten-Nine Technologies, a firm specializing in battery nanotechnology additives. Her previous roles include CFO at Lion, Inc., and financial leadership positions at Clopay Plastics and Procter & Gamble.
John McLernon, Village Farms' Chairman of the Board, expressed confidence that Hauger's financial strategy expertise and business-building experience would be of tremendous benefit to the company.
Village Farms highlighted Hauger's advisory roles and board memberships, including her current position as Independent Director and Audit Chair for Jericho Energy Ventures. Her educational credentials include a BS in Chemical Engineering from The Pennsylvania State University and an MBA in Finance and Accounting from Xavier University.
The company, known for its Controlled Environment Agriculture-based supply of fresh produce and its ventures in cannabis and CBD categories, has outlined ambitious plans for growth. With operations spanning North America, the Netherlands, and selected international markets, Village Farms is positioning itself to capitalize on emerging legal cannabis and CBD opportunities.
This announcement is based on a press release statement from Village Farms International, Inc.
InvestingPro Insights
Village Farms International's recent appointment of Carolyn Hauger to its Board of Directors marks a strategic move for the company, aligning with its growth objectives and focus on financial strategy. In light of this development, key metrics and InvestingPro Tips can provide investors with a deeper understanding of the company's current financial health and market position.
The company's market capitalization stands at a moderate $138.91 million, reflecting its size within the industry. Despite challenges, Village Farms has demonstrated a strong price performance with a significant return of 70.27% over the last year, and an even more impressive 93.55% over the last six months. This momentum is further underscored by a 62.16% return in the last three months, indicating a positive trend for the company's stock.
Investors should note that Village Farms is trading at a low Price / Book multiple of 0.47, which may suggest the stock is undervalued relative to its book value—a point of interest for value-oriented investors. However, the company's P/E ratio stands at -5.08, and it is not expected to be profitable this year, according to analysts. This underlines the importance of strategic financial management and the potential impact of Hauger's expertise on the company's future profitability.
For those looking to delve deeper into Village Farms' financials and stock performance, there are additional InvestingPro Tips available. Currently, there are 10 more tips listed on InvestingPro, which can be accessed at https://www.investing.com/pro/VFF. Interested investors can also take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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