- Push-out Score determined
- After about six years in the position
- Praise and thanks for Hodge
- Search for a successor
- Hodge spoke at length and said 160 words
(exechange) — Sisters, Oregon, August 11, 2021 — Paul Hodge, chief executive of Laird Superfood, prepares for his departure. As announced by Laird Superfood Inc. in a news release and in a regulatory filing published on Wednesday, August 11, 2021, Paul W. Hodge is preparing to leave his post as chief executive officer at the provider of plant-based superfood products after about six years in the role, effective once a successor is named.
Laird Superfood will undertake a search for a successor.
Paul Hodge’s departure from the CEO post is explained as follows. Hodge said: “As a large shareholder myself, I recognize the benefit that complementary platform expertise would bring to accelerating growth on the path to becoming the multi-billion dollar business to which we aspire. So the search is underway for a person who shares our passion, vision and values for the Laird Superfood brand along with possessing other key attributes including large CPG experience.”
Laird Superfood said: “Paul Hodge, Jr. will begin transitioning to a non-executive role and stepping down as President and Chief Executive Officer once a successor is named.”
Laird Superfood further said: “On August 5, 2021, Paul Hodge, Jr. informed the Company’s Board of Directors that he intends to transition to a non-executive role and step down as President and Chief Executive Officer upon identifying an appropriate successor. The Board of Directors has commenced a search for his replacement. Mr. Hodge intends to remain a director of the Company.”
Share price decline since January 2021
The announcement follows a decline in Laird Superfood Inc.’s share price of 45% since January 2021.
In the position of CEO since 2015
Paul Hodge became CEO of the Company in 2015.
Hodge co-founded Laird Superfood and has served as the Company’s President and Chief Executive Officer and member of the Company’s Board of Directors since its founding in 2015.
Prior to founding the Company, in 2015, Hodge founded GolfBoard Inc. In 2014, Hodge founded GB Leasing, a leasing company designed to lease fleets of GolfBoards.
From 2007 to 2011, Hodge was Chief Executive Officer and founder of Solar Nation, Inc., a fully vertically integrated engineer, procure and construct company which developed, engineered, constructed and financed commercial and utility scale solar systems.
Solar Nation filed a voluntary petition for bankruptcy under Chapter 7 of the U.S. Bankruptcy Code in February 2013.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Paul Hodge’s move on a scale of 0 to 10.
exechange reached out to Laird Superfood and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 33.2021 ($).