Camposol Holding is on a search for a new CEO after José Antonio Gómez resigned from the Peru-based fresh fruit supplier.
Gómez handed in his resignation yesterday (3 June), according to a statement from Camposol, which did not provide a reason for his departure.
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The business reported its annual results in April for the year to 31 December. While sales were flat at $464.4m, EBITDA increased more than 76% to $109.4m with the margin almost doubling to 23.6% from 13.4%.
Gómez’s LinkedIn page shows he has been CEO since September 2021 but has served in various roles during his 13-year career at the Lima-based business, including managing director for the international operations and group chief commercial officer.
“We thank him for his dedication and leadership during his 13 years with the company and wish him the best in his future professional endeavours,” the brief statement read.
In the interim search for a replacement, Camposol’s finance chief Ricardo Naranjo will stand in as CEO. Meanwhile, Samuel Dyer Coriat, the current board chairman, will “assume the role” of executive chairman.
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By GlobalData“We remain committed to our objectives and guarantee that our activities and service to our clients will continue with the same efficiency and quality that have always characterised us,” the statement continued.
Camposol is engaged in fruit production across the supply chain from growing, processing, harvesting and marketing. Its range consists of blueberries, avocados, mandarins, grapes and mangoes.
The company operates facilities in Peru, Colombia, Uruguay, Chile and Mexico, and also has distribution centres in North America, Europe and Asia.
Financial results for the first quarter of fiscal 2024 were announced last week.
Sales rose 29% to $152m in the three months to 31 March from a year earlier.
EBITDA climbed 119% to $60.4m, with the margin moving up to 40% from 23%. Net profit also increased substantially at 77% to $36m.
Camposol also registered an improvement in leverage, with a net debt-to-EBITDA ratio of 3.37 times, compared to 8.27 times a year earlier. The company noted the result has declined for five straight quarters since peaking at 8.92 at the end of 2022.
“Our disciplined financial management played a crucial role in enhancing our financial position by reducing both short- and long-term debt,” Gómez said in the commentary.
“By continuing the efficiency initiatives identified in 2023 and prioritising debt reduction, we’ve bolstered our financial stability and positioned ourselves for sustained success.”
Just Food approached Camposol to ask for reasons behind Gómez’s departure following the robust financial results.
A company spokesperson responded: “At this time, we are not providing any comments regarding this matter.
“The strategic plans that have allowed us to start 2024 with strong results will continue to be executed, reaffirming our commitment to efficient commercial execution and solid financial management.”
