Laird Superfood, Inc. (NYSE American: LSF) (“Laird Superfood”, the “Company”, “we” and “our”), today announced the appointment of Jason Vieth as President, Chief Executive Officer and Director. The Company also provided a business update including preliminary results for the fourth quarter and full year 2021.
“I joined Laird Superfood because of the incredible potential of this company, and I look forward to working closely with this talented team to achieve that potential.”
Jason Vieth has been appointed President and Chief Executive Officer, replacing Paul Hodge, Jr., who previously announced his desire to step down from the CEO role. Mr. Vieth’s extensive experience in the food & beverage industry includes his most recent position as Executive Vice President of Sovos Brands, where he managed the Breakfast and Snacks Group. Mr. Vieth’s prior experience includes nearly a decade spent at WhiteWave Foods, most recently as Senior Vice President and General Manager of the yogurt business that included Horizon Organic, Wallaby Organic, Silk and So Delicious. In addition, he has led other food & beverage businesses such as Poppi and Lifetime Fitness’ Life Café.
“We are delighted to have Jason join the Laird Superfood team to lead the next chapter of our growth story. His breadth of experience and impressive track record of leading high-growth CPG brands, particularly in the wholesale channel, will be a powerful accelerant to our digitally native brand. Paul Hodge, our founding CEO, built a remarkable brand and platform, and Jason’s strong operational background, experience with plant-based beverages and strategic mindset make him the ideal candidate to lead Laird Superfood and make it a nationally recognized brand,” said Geoffrey Barker, Chair of the Board of Directors.
“Laird Superfood has developed a distinct and compelling food & beverage brand and its powerful omni-channel platform provides multiple pathways for delivering substantial long-term growth by reaching consumers everywhere that they shop,” said Jason Vieth, CEO. “I joined Laird Superfood because of the incredible potential of this company, and I look forward to working closely with this talented team to achieve that potential.”
Business Update — Preliminary, Unaudited Financial Results
Fourth quarter of 2021 net sales are expected to be approximately $9.4 million, an increase of 29% versus the year-earlier period. Gross margin is expected to be approximately 24% in the fourth quarter of 2021 compared to 20% in the fourth quarter of 2020.
Full year 2021 net sales are expected to be approximately $36.8 million, an increase of 43% compared to 2020. Gross margin is expected to be approximately 26% for full year 2021, flat with 2020.
The foregoing preliminary financial results are unaudited and subject to change. See “Financial Disclosure Advisory” below.