Key Takeaways
- Strategic Appointments: Village Farms International announces new executive roles to enhance leadership in its expanding global cannabis business.
- Experienced Leaders: Ann Gillin Lefever as Chief Operating Officer, Paul Furfaro as President of Global Medical Cannabis, and John Harloe as General Counsel of Global Cannabis.
- Business Growth: These appointments come as the company reports strong growth and expansion into European and other medicinal cannabis markets.
Village Farms International, Inc. (NASDAQ: VFF) today revealed significant expansions to its executive team, introducing new roles aimed at bolstering its fast-growing global cannabis operations. The announcement was made by Michael DeGiglio, President and Chief Executive Officer, who emphasized the strategic nature of these appointments in supporting the company’s ongoing expansion and profitability in the sector.
New Executive Appointments
The newly created positions reflect Village Farms’ commitment to leadership and expertise in its burgeoning global operations:
Ann Gillin Lefever, Chief Operating Officer
Ann Gillin Lefever, previously an external consultant to Village Farms since 2020, has been appointed as the Chief Operating Officer. Her background includes significant experience in business, finance, and capital markets, having held leadership roles at Barclays and as a Senior Equity Research Analyst in the Consumer Products sector. Ms. Gillin Lefever is a recipient of multiple industry accolades and holds a BS in Finance from Georgetown University and an MBA from The Wharton School.
Paul Furfaro, President, Global Medical Cannabis
Paul Furfaro, who joined Village Farms in 2023, will now lead as President of Global Medical Cannabis. His prior experience includes serving as Vice President of Operations and then Interim President and CEO at the Société Québécoise du Cannabis, where he significantly contributed to the organization’s infrastructure and expansion. Mr. Furfaro holds an MBA from McGill University and HEC Montréal and a BCom from Concordia University.
John Harloe, General Counsel, Global Cannabis
Dr. John Harloe, who has been part of Village Farms’ subsidiary Balanced Health Botanicals since 2019, steps into the role of General Counsel for Global Cannabis. His extensive background in pharmacology, toxicology, and legal affairs uniquely positions him to lead in this regulatory-intensive industry. Dr. Harloe holds a PhD from Virginia Commonwealth University Medical Center and a JD from Southern Methodist University.
Company Growth and Market Expansion
Underlining these appointments is Village Farms’ impressive growth trajectory, notably its profitability in Canada and expansion into four new medicinal export markets. Additionally, the company is pioneering as the only North American firm to develop a recreational cannabis facility in the Netherlands, showcasing its innovative approach in the competitive cannabis market.
Village Farms International’s Latest News
Appoints William Stoufer as President of Balanced Health Botanicals (2024/04/11)
William Stoufer has been appointed as the new President of Balanced Health Botanicals (BHB), reporting to Michael DeGiglio, President and CEO of Village Farms. Stoufer joined BHB in 2019 as COO with almost 30 years of experience in the consumer-packaged goods sector. Chase Terwilliger, former CEO of BHB, has left the CBD/cannabis industry to pursue other opportunities.
Achieves Top Rankings in FT’ Fastest Growing Cannabis Companies (2024/04/08)
Village Farms International has been named among the fastest-growing companies in the Americas by The Financial Times and Statista, for the second consecutive year. The company has been ranked 1st among cannabis companies, 10th within the agriculture sector, and 32nd among Canadian companies. Village Farms’ strategy focuses on capitalizing on the global cannabis market by leveraging its expertise in controlled environmental agriculture. The company aims to maintain its leadership position in agriculture while aggressively expanding its cannabis strategy on an international scale.
Launches Renewable Natural Gas Facility in British Columbia (2024/04/04)
Village Farms International and Terreva Renewables have started operations at the Delta RNG production facility in British Columbia. The facility will convert methane gas from landfills into low-to-negative carbon emissions RNG, helping to offset fossil fuel usage and aligning with environmental sustainability goals. The project is set to contribute nearly 3% of British Columbia’s targeted RNG volumes, supporting the province’s aim to reduce greenhouse gas emissions by 30% by 2030.
Reports Q4 & Year-End Financial Results (2024/03/14)
Village Farms International, Inc. (NASDAQ: VFF) reported positive financial outcomes for the fourth quarter and fiscal year ending December 31, 2023. The Canadian Cannabis business remains the leader in that market, with record sales and positive adjusted EBITDA. Village Farms’ operations have benefitted from a more favorable Canadian regulatory environment, with the company actively engaging in discussions around excise duty reforms. The company is expanding globally, and its U.S. Cannabis business and Fresh Produce division reported positive adjusted EBITDA and cash flow.
Village Farms International Expands Into The Netherlands (2024/02/01)
Village Farms International is expanding its expertise to the cannabis and CBD categories in North America and internationally. The company has secured one of only 10 licenses available under the Dutch Closed Supply Chain Experiment, allowing it to produce and distribute recreational cannabis in the Netherlands legally. Village Farms has commenced the build-out of its inaugural indoor cannabis production facility in Drachten, Netherlands, and plans to enter the high-THC cannabis market in the US while exploring opportunities in specific international markets.
Q3 2023 Results (2023/11/09)
In Q3 2023, the company reported substantial improvements in its financial health and strategic growth across all business segments. The company achieved positive cash flow and reduced losses, with notable gains in Canadian and U.S. Cannabis operations and a recovery in Fresh Produce. Despite a minor decline in consolidated sales, Village Farms demonstrated increased profitability and efficiency, particularly in its cannabis segment, which maintains market leadership in Canada. The Company also focuses on expanding its product range and exploring international opportunities in the legal cannabis and CBD markets, indicating a strong future outlook and continued growth trajectory.
Village Farms Appoints Orville Bovenschen as President of Pure Sunfarms; Mandesh Dosanjh Moves to Advisory Role (2023/08/23)
Village Farms International has announced Orville Bovenschen as the new President of Pure Sunfarms, replacing Mandesh Dosanjh. Bovenschen has enhanced quality and consistency across Pure Sunfarms’ brands. Dosanjh moves to a strategic advisory position. Bovenschen has international experience and reports directly to Michael DeGiglio.
Q2 Highlights Growth In Cannabis & Fresh Produce (2023/08/10)
Village Farms International, Inc. has released its Q2 2023 financial results. The Canadian Cannabis segment saw a 24% YoY growth in Retail Branded sales, outperforming the overall market expansion. The U.S. Cannabis segment and Fresh Produce division also showed consistent performance and significant improvements. The company also emphasized its strategic focus on consumer-driven innovation and aggressively pursuing international opportunities.
Village Farms International Reports Strong Q1 2023 (2023/05/11)
Village Farms International, a Vancouver-based company, reported strong growth in its Canadian Cannabis business and significant improvement in its Fresh Produce business for the first quarter of 2023. The company achieved its 18th consecutive quarter of positive adjusted EBITDA, with a year-over-year increase of 95%. However, the CEO expressed disappointment in the excessive, flat per-gram excise tax imposed by the Canadian government on legal cannabis businesses. The company also added Germany as its third export market for its Cannabis business, with higher-margin, rationally taxed export sales growing more than nine-fold year-over-year. The much-improved first quarter supports the company’s confidence in substantially improved financial performance from Fresh Produce this year.
Expands To Germany (2023/05/05)
Village Farms International has expanded Pure Sunfarms into Germany, collaborating with IUVO Therapeutics. Pure Sunfarms’ Pink Kush will be available to patients in Germany. Village Farms is focused on international cannabis strategy and has experienced growth in Australia, Israel, and Germany. The Pink Kush product has been a best-seller in Canada and Pure Sunfarms aims to offer high-quality cannabis products at competitive prices in Germany.
Image provided by Village Farms
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