The Hain Celestial Group, which owns the Terra chips, Garden of Eatin' snacks and Celestial Seasonings tea brands, announced Wednesday that President and CEO Wendy Davidson has departed the company.
Board Chair Dawn Zier said in the announcement that the company's board "believes this is the right time to transition to new leadership." The company also launched a "comprehensive review" with independent financial advisor Goldman Sachs & Co., which will consider "a broad range of strategic options to enhance value."
“In light of recent performance, the board has decided that a thorough evaluation of the company’s strategy and portfolio is warranted to determine the best approach to maximize shareholder value," Zier said. "With this review underway, we remain focused on operating our business effectively, ensuring we have a strong path to achieve sustainable growth and value creation.”
Alison Lewis, who joined the company's board last year, will serve as interim president and CEO while the board works to identify its next permanent chief executive.
“I look forward to leading Hain with the same level of commitment as if I were in the role permanently, with a goal of improving performance," Lewis said in a statement.
Zier also thanked Davidson in the release "for her contributions to the company" and "wish her the very best in the future.”
