Landec Corporation, a leading developer and marketer of innovative and proprietary products for healthy living applications in the food market has announced that its chairman and CEO, Gary Steele, has agreed to delay his retirement beyond 31 May this year.
'We are proceeding with a thorough and thoughtful process which is taking longer than originally anticipated, but we expect to have Landec's new CEO in place by calendar year end,' said Steve Goldby, Landec's lead independent director. 'As a result, the board has asked Gary, and Gary has agreed, to remain as Landec's chairman and CEO until his successor is hired.
'The board very much appreciates that Gary is delaying his retirement until his successor is in place.'
As previously disclosed, after his retirement Steele has agreed to remain on the Board of Directors as a director, but not as chairman.
