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Lifecore Biomedical Announces Chief Financial Officer Transition
Experienced CDMO Industry Financial Executive Ryan Lake Appointed CFO CHASKA, Minn., Aug. 29, 2024 (GLOBE NEWSWIRE) -- Lifecore Biomedical, Inc. (NASDAQ:
About this update from Lifecore Biomedical, Inc.
[{"type":"text","content":"Experienced CDMO Industry Financial Executive Ryan Lake Appointed CFO\nCHASKA, Minn., Aug. 29, 2024 (GLOBE NEWSWIRE) -- Lifecore Biomedical, Inc. (NASDAQ: LFCR) (“Lifecore” or the “Company”), a fully integrated contract development and manufacturing organization (“CDMO”), today announced that John Morberg will be stepping down from his position as chief financial officer to pursue other professional opportunities and spend time with his family, effective September 2, 2024. In addition, the Company is pleased to announce that Ryan Lake, an accomplished CDMO financial executive, will succeed Mr. Morberg as CFO beginning September 3, 2024. “On behalf of the board of directors, along with the entire Lifecore team, I would like to express our gratitude to John for his years of service as the Company’s chief financial officer. During his tenure, he has proven to be an invaluable member of leadership making significant contributions to the Company’s overall success, while also skillfully navigating the organization through numerous complex transactions as it transitioned into a dedicated CDMO,” said Paul Josephs, president and chief executive officer of Lifecore. “We wish John the best in all his future endeavors.” Mr. Josephs continued, “We are excited to bring Ryan on board at this important time for Lifecore as we work to refine and execute a comprehensive strategy to marry our unique strengths with the significant opportunities in the CDMO space in order to achieve sustained growth. Ryan’s impressive experience uniquely positions him for this role. Not only has he served as a successful public company CFO within the CDMO space, but he has also experienced firsthand the complexities of creating a dedicated CDMO from a larger organization with multiple business arms. These parallels with the Lifecore story equip him with valuable insight and experience that will serve the Company well on our exciting path forward.” During his career, Mr. Lake has been credited with leading and advising corporations through mergers, acquisitions, spin-offs, recapitalizations, integrations, equity, debt, and stock market transactions. He has raised over $700 million in capital and has participated in M&A transactions worth over $700 million in value. Mr. Lake has significant experience within the CDMO industry, having most recently served as the CFO of...