Press Release

Proven consumer packaged goods finance leader will succeed outgoing CFO Bo Meissner in March 2023

AUSTIN, Texas, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Vital Farms is adding a new member to its senior leadership team as the Certified B Corporation looks to expand beyond eggs and butter and continue raising the standards across the food industry. Thilo Wrede is joining as Chief Financial Officer (CFO) beginning on or about March 15, 2023.

“Thilo brings a disciplined leadership approach and a proven ability to create long-term value that will help us continue delivering for all of our stakeholders,” said Russell Diez-Canseco, President and CEO at Vital Farms. “His experience across world-class consumer packaged goods brands and as a sell-side analyst make him a uniquely strong fit for our company at this stage in our growth trajectory.”

As CFO, Mr. Wrede will lead Vital Farms’ accounting, treasury, financial planning and analysis, information technology and investor relations functions. He succeeds Bo Meissner, who was promoted to CFO in 2020 and helped lead the company through its early stages as a newly public company. Mr. Meissner will remain with the company through July 2023 to ensure a smooth transition and lead Vital Farms through its fourth quarter 2022 reporting period.

“Bo has done a masterful job building our finance team and putting all of the fundamental building blocks in place,” continued Mr. Diez-Canseco. “He led this organization through a period of incredible growth, and we wish him the best as he shifts his priority to spending more time with his family.”

Mr. Meissner commented, “I'm grateful for the opportunity to have served Vital Farms through this incredible growth period and work with phenomenally talented people. We've built a great team and meaningfully advanced Vital Farms’ mission. I'm looking forward to this next chapter, and I wish Thilo the best as he steps into his new role.”

Mr. Wrede was most recently Global Chief Financial Officer at Sabra Dipping Company, LLC. Sabra is the leading U.S. brand of hummus and other fresh dips and spreads. Prior to that, he was CFO for PepsiCo’s Central and South America Foods division. Mr. Wrede has extensive experience on Wall Street, where he was an equity research analyst at both Credit Suisse and Jefferies & Company.

Mr. Wrede commented, “Vital Farms pursues a holistic approach to capitalism that ensures every part of the value chain gets treated fairly. It aligns with my personal values, and as someone with deep roots in the consumer sector, I believe this is the right way to run a business. I’m looking forward to helping the company continue to drive profitable growth and generate enhanced shareholder value with a long-term focus.”

ABOUT VITAL FARMS:

Vital Farms (Nasdaq: VITL), a Certified B Corporation, offers a range of ethically produced foods nationwide. Started on a single farm in Austin, Texas, in 2007, Vital Farms is now a national consumer brand that works with over 300 small family farms and is the leading U.S. brand of pasture-raised eggs by retail dollar sales. Vital Farms’ ethics are exemplified by its focus on the humane treatment of farm animals and sustainable farming practices. In addition, as a Delaware Public Benefit Corporation, Vital Farms prioritizes the long-term benefits of each of its stakeholders, including farmers and suppliers, customers and consumers, communities and the environment, and crew members and stockholders. Vital Farms’ products, including shell eggs, butter, hard-boiled eggs, and liquid whole eggs, are sold in over 22,000 stores nationwide. Vital Farms pasture-raised eggs can also be found on menus at hundreds of foodservice operators across the country. For more information, visit www.vitalfarms.com.

CONTACT:

Media:
Rob Discher
Rob.Discher@vitalfarms.com

Investors:
Matt Siler
Matt.Siler@vitalfarms.com