– USA, CA – TerraVia Holdings, Inc. (NASDAQ:TVIA), a next generation food, nutrition and specialty ingredients company and pioneer in algae innovation, has announced that Apu Mody, former President of Mars Food America, has been appointed CEO and a member of the Board of Directors, effective on or about August 22nd.
The appointment of Mr. Mody is part of the planned transition announced in March. Current co-founder, Chairman and CEO Jonathan Wolfson will continue to serve as CEO until August 22nd, and will then assume the role of Executive Chairman.
“TerraVia is lucky, and I am personally thrilled to have Apu lead our next phase of growth and to establish TerraVia as a leader in plant-based food and nutrition based on our groundbreaking algae ingredients,” said Jonathan Wolfson. “His experience at both Fortune 50 companies and in early stage ventures, including leading strong growth at both Mars and Del Monte, make him the ideal choice to accelerate commercialization and growth of the movement around algae-based foods.”
Mr. Mody brings over 25 years of experience and a strong record of financial success and innovation in the CPG, Retail and Restaurant sectors. Most recently, as President of Mars Food America, he was responsible for a significant turnaround of the business covering the US, Canada, Brazil and the Middle East, eventually creating the fastest growing region for Mars Food. While at Mars, Apu served on the Executive Committee and Board of Directors of the GMA (Grocery Manufacturers of America). Prior to Mars, Apu spent six years at Del Monte Foods, in various Strategy and General Management roles, ultimately joining the Executive team as the SVP and GM for the $2.4B Consumer Products Division where he led the development of a long term vision to focus on healthy eating while creating internal and external alignment for a sustainable platform for growth.
“I’ve been passionate about Healthy Living and have seen many substantial changes across the industry. In my 25+ years in the food and CPG industry, nothing I have seen comes close to the exciting potential of TerraVia,” Apu Mody said. “I believe there are opportunities across the grocery store driven by accelerating demand for plant based foods and nutrition. And with TerraVia’s unique portfolio of ingredients that provide better nutrition and sustainability with outstanding taste, the Company is on the verge of great things. I look forward to leading the team and realizing our mission of making a difference for both people and the planet.”
TerraVia has spent over a decade developing a proven portfolio of algae ingredients and products that focus on harnessing the power of algae, the mother of all plants and earth’s original superfood. These include AlgaVia Protein-Rich Whole Algae, AlgaVia Lipid-Rich Whole Algae, and AlgaWise Ultra Omega-9, and Thrive Culinary Algae Oil which has the highest level of monounsaturated fat and lowest level of saturated fat of any culinary oil available on the market. In addition, TerraVia produces AlgaPrime DHA, for the aquaculture and animal nutrition markets, and AlgaPur oils, including a more sustainable alternative to palm oil for the specialty personal care market.
About TerraVia
TerraVia is a next generation food, nutrition and specialty ingredients company that harnesses the power of algae, the mother of all plants and earth’s original superfood. With a portfolio of breakthrough ingredients and manufacturing, the Company is well positioned to help meet the growing need of consumer packaged goods and established and emerging food manufacturers to improve the nutritional profile of foods without sacrificing taste, and to develop select consumer brands. The Company also manufactures a range of specialty personal care ingredients for key strategic partners. Headquartered in South San Francisco, the Company’s mission is to create products that are truly better for people and better for the planet.
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