The boss of large-scale Peruvian exporter Camposol has resigned.
Fabio Matarazzo di Licosa resigned from his post as CEO earlier this month, with the company’s chairman Samuel Dyer set to replace him as executive chairman.
The firm said in a statement that Matarazzo had made Camposol “a significant global player in branded quality agricultural products”. Dyer Coriat has a degree in business administration from the University of Miami, Florida with a specialization in finance and administration. He has broad experience in the Peruvian fishing industry, having occupied various positions in Copeinca, among them CEO and chairman of the Board. He has also served as member of the board of Camposol since 2008 and as chairman since 2011.
Dyer Coriat said: "Fabio's leadership in the past two years guided the Company towards a new direction… The board would like to take this opportunity to thank him for his dedication to the company and for having played a leading role in the opening of the US market for Peruvian Hass avocado, key event that our company was expecting and represents an important upside in the company's value and future financial results. “
He added that di Licosa will continue to offer marketing and sales insights for the company.
Camposol reported on a huge jump in sales and earnings for the third quarter of 2011, as a later avocado harvest and the opening of the US market to the country's Hass avocados resulted in record numbers.
Sales for the three-month period came in at $49.4 million, growth of 62.3 per cent on the previous campaign due to a jump in avocado sales, with over 55 per cent of harvested volumes concentrated in the third quarter following a delayed season.
Earnings before interest, taxation, depreciation and amortisation (EBITDA) before fair value adjustments soared by 165 per cent on the same period of 2010, up to US$15.1m, with EBITDA margin increasing to 30.5 per cent from 18.7 per cent.
