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5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On December 14, 2021, the Board of Directors of Mission Produce, Inc. (the “Company”) appointed Shaunte Mears-Watkins to the Board of Directors as an independent Class II director with a term expiring at the Company’s 2022 Annual Meeting of Stockholders, effective immediately. In connection with this appointment, the Board of Directors also increased the size of the Board of Directors from eight to nine directors.
Ms. Mears-Watkins has served as the Chief Commercial Officer of Clif Bar & Company, a leading maker of energy and nutrition foods, since June 2021. Previously, Ms. Mears-Watkins held increasingly senior roles in marketing, sales, and strategy at The Clorox Company (NYSE: CLX), a global manufacturer and marketer of household goods, food, pet care, and commercial cleaning products, from 2005 to 2008 and again from 2009 to 2021. From 2008 to 2009, Ms. Mears-Watkins was a Global Category Manager at Bare Escentuals Beauty, Inc. (NASDAQ: BARE), a retail cosmetics and personal care company. Ms. Mears-Watkins has served as a director for the Alameda County Community Food Bank since November 2021.
Ms. Mears-Watkins received a Bachelor of Arts degree from Stanford University and a Master of Business Administration degree from Harvard Business School.
Ms. Mears-Watkins will receive compensation for her service on the Board of Directors consistent with the Company’s Non-Employee Director Compensation Program filed as Exhibit 10.4 to the Company’s Form S-1 filed on September 4, 2020. The Company also expects to enter into its standard indemnification agreement for directors with Ms. Mears-Watkins, the form of which was filed as Exhibit 10.7 to the Company’s Form S-1 filed on September 4, 2020.
Ms. Mears-Watkins was not selected as a director pursuant to any arrangements or understandings with the Company or with any other person, and there are no related party transactions between the Company and Ms. Mears-Watkins that would require disclosure under Item 404(a) of Regulation S-K.
A copy of the press release announcing the appointment of Ms. Mears-Watkins to the Board of Directors is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
|Item 9.01.|| |
Financial Statements and Exhibits
|Exhibit 99.1||Press release dated December 15, 2021|
|Exhibit 104||Cover Page Interactive Data File (embedded within the Inline XBRL document)|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|MISSION PRODUCE, INC.|
Date: December 15, 2021
Stephen J. Barnard
President and Chief Executive Officer
FOR IMMEDIATE RELEASE
Mission Produce Appoints Shaunte Mears-Watkins to Board of Directors
OXNARD, Calif. Dec. 15, 2021 Mission Produce, Inc. (NASDAQ: AVO) (Mission or the Company), the world leader in sourcing, producing, and distributing fresh Hass avocados, with additional offerings in mangos, today announces the appointment of Shaunte Mears-Watkins to its board of directors effective December 14, 2021. Ms. Mears-Watkins was appointed to the class of directors that will stand for election at the companys 2022 Annual Meeting of Stockholders.
Shaunte Mears-Watkins is an accomplished global sales and marketing executive with over 20 years of experience. Ms. Mears-Watkins is known for her innovative strategic perspective and global P&L leadership in the consumer product and food industries. She currently serves as the Chief Commercial Officer at Clif Bar and Company, a double-digit growth manufacturer in the energy food and drink space. Before joining Clif Bar and Company in the summer of 2021, Ms. Mears-Watkins spent nearly 15 years at The Clorox Company in positions such as Vice President of Marketing, Specialty Division, and General Manager Clorox Australia, and New Zealand. Most recently, she held the position of Vice President of Strategy and Chief of Staff to the Office of the CEO. She holds a BA from Stanford University in economics and an MBA from Harvard Business School.
We are excited to add such a strategic and innovative marketing and sales executive to our board of directors. Shauntes experience from a commercial and global perspective in the consumer product and food space is a complement to the other eight board members currently serving, said Steve Barnard, Founder, and CEO, Mission Produce. Her proficiency in driving growth with multiple brands such as Burts Bees, Kingsford, and Hidden Valley will be of value as we continue to build the Mission Produce brand globally, added Barnard.
Steve Bershad, Chairman of the Board, said, I am pleased Shaunte has joined our board of directors. Not only does she provide valuable perspective with public experience, but her caliber and breadth of experience enhance the boards overall expertise. In addition, her appointment further bolsters the independence of the board of directors.
About Mission Produce, Inc.:
Mission Produce is the global leader in the worldwide avocado business. Since 1983, Mission Produce has been sourcing, producing, and distributing fresh Hass avocados, and as of 2021, fresh mangos, to retail, wholesale, and foodservice customers in over 25 countries. The vertically integrated Company owns and operates four state-of-the-art packing facilities in key growing locations globally including California, Mexico & Peru, and has additional sourcing capabilities in Chile, Colombia, Dominican Republic, Guatemala, New Zealand, & South Africa, which allow the
company to provide a year-round supply of premium fruit. Missions global distribution network includes twelve forward distribution centers in North America, China & Europe that offer value-added services such as ripening, bagging, custom packing, and logistical management. In addition, Mission owns over 11,000 acres globally, allowing for diversified sourcing and access to complementary growing seasons, while ensuring its customers receive the highest quality fruit possible. For more information, please visit www.missionproduce.com.
Investor Relations Contact:
Vice President of Marketing and Communications
Mission Produce, Inc.