Volker Kuntzsch to step down as CEO of Sanford

Sanford CEO Volker Kuntzsch will step down after seven years in office, starting next week.

The Sanford board said an international search for a replacement would begin soon.

Meanwhile, Andre Gargiulo of Sanford will serve as interim CEO.

President Sir Rob McLeod said Kuntzsch had had a “transformative” impact on Sanford.

“Volker has helped transform Sanford into a forward-thinking, values-based company with an exceptional commitment to environmental sustainability and to the people of Sanford,” McLeod said in a statement.

“In the last seven years we have come a long way in maximizing the value of our fishery products and diversifying our business, as well as turning our aquaculture business into a profitable and innovative unit,” he said.

“As we move toward a greater focus on consumer-driven marketing and innovation, Volker and the Sanford board agreed that now would be a sensible time for a new leader to drive the next phase of the strategy,” he said McLeod.

Sanford shares last traded at $ 5.78, down 17 cents, or 2.8 percent, in a rising market.

Earlier this month, Sanford said Covid-19 reduced its third-quarter sales by 15 percent.

Volatility in global markets as a result of the pandemic was an ongoing challenge for the important foodservice component of Sanford’s business, but the company said it was moving forward with the strategic shifts needed to meet the new market conditions.

Kuntzsch said at the time that the closures around the world have had an “inevitable” effect.