LUNENBURG, NS, Sept. 19, 2013 /CNW/ - (TSX: HLF): Henry Demone, Chief Executive Officer of High Liner Foods Incorporated ("High Liner Foods" or "the Company"), is pleased to announce the appointment of Keith Decker to the newly created executive position of President and Chief Operating Officer of High Liner Foods. In this position, Mr. Decker will assume responsibility for the day-to-day operations of the Company from Mr. Demone. Mr. Demone will remain in his role as CEO of High Liner Foods and continue to focus on strategy and growth opportunities. These changes are effective immediately.
Mr. Decker has been the President and COO of High Liner Foods (USA) Incorporated since March 2008, responsible for the overall performance of High Liner Foods' US operations, and during his tenure, also led the integration of three acquisitions into the US operations. Mr. Decker was previously President and COO at Fishery Products International ("FPI") and joined High Liner Foods through its acquisition of FPI's North American value-added food service and retail frozen seafood businesses in 2007.
"Keith has successfully led our US operations through a phase of growth previously unprecedented at High Liner Foods. We were extremely fortunate to have him join our team through the FPI acquisition and have benefited greatly from his extensive experience and expertise with the seafood business", said Mr. Demone. "I am confident in Keith's ability to assume this new role and to help lead the organization towards its vision to become the leading frozen seafood supplier in North America," added Mr. Demone.
Since 2007, High Liner Foods has made three significant acquisitions and grown its revenue from $256 million in 2007 to $943 million in 2012. Adjusted Net Income1 has increased by $31 million, from $7.1 million to $38.1 million, over the same time period. Today, High Liner Foods has a market capitalization of approximately $544 million and is the leading North American value-added frozen seafood company.
Keith Decker has over 25 years of experience in the seafood industry and worked in sales for several different seafood companies, before being recruited in 1995 to Clouston Foods, after it was acquired by FPI. During the next eleven years, Mr. Decker was given increasing levels of responsibility within FPI and in early 2006 was promoted to Executive VP of Sales & Marketing, before being named FPI's President and COO in March 2007. Mr. Decker graduated from the University of Washington with a Bachelor of Science (Business Major).
Mr. Decker will retain the duties of his former position as President and COO for High Liner Foods (USA) Incorporated until a successor is named. In his new role, Mr. Decker will continue to report to Mr. Demone.
About High Liner Foods Incorporated
High Liner Foods is the leading North American processor and marketer of value-added frozen seafood. High Liner Foods' retail branded products are sold throughout the United States, Canada and Mexico under the High Liner, Fisher Boy, Mirabel, Sea Cuisine and Royal Sea labels, and are available in most grocery and club stores. The Company also sells branded products under the High Liner, Icelandic Seafood, FPI, Viking, Mirabel and Samband of Iceland labels to restaurants and institutions, and is the major supplier of private label value-added frozen seafood products to North American food retailers and food service distributors. High Liner Foods is a publicly traded Canadian company, trading under the symbol HLF on the Toronto Stock Exchange.
1 Please refer to High Liner's Management Discussion & Analysis ("MD&A") for the Thirteen and Twenty-Six Weeks Ended June 29, 2013 for definitions of the non-IFRS financial measures used by the Company, including "Adjusted Net Income".
Image with caption: "Mr. Keith Decker has been appointed President and Chief Operating Officer of High Liner Foods (CNW Group/High Liner Foods Incorporated)". Image available at: http://photos.newswire.ca/images/download/20130919_C8531_PHOTO_EN_31028.jpg
SOURCE: High Liner Foods Incorporated
For further information:
Heather Keeler-Hurshman, CA
Director, Investor Relations
High Liner Foods Incorporated
Tel: (902) 421-7100