Fresh produce giant Chiquita has announced a quarterly cash dividend of $0.10 per share on the company's outstanding shares of common stock.

The dividend is payable on July 15, 2005, to the shareholders of record as of the close of business on July 1, 2005.

Meanwhile, the company also announced the appointment of Jeffrey Zalla, 39, as senior vice president and chief financial officer, effective from June 1.

Zalla will be responsible for all aspects of the company's financial operations worldwide.

He replaces John (Jay) W. Braukman III, who will remain with the company as senior vice president of new business development and strategic planning.

Fernando Aguirre, chairman and chief executive officer, said: “One of my overriding priorities has been to ensure that we have the right people in the right positions throughout the company.

“I am confident that this appointment will help ensure this goal is met. Jeff is a 14-year veteran, working in increasingly important finance, strategic analysis, corporate responsibility and communications positions.

“During the past several months, Jeff has been integral to every key financial decision in the company, including the Fresh Express acquisition and the recent refinancing of the company's senior notes.

“In large part as a result of his hard work, as well as that of the rest of the team, we continue to target closing the Fresh Express transaction by the end of the second

quarter," Aguirre said.

“I am excited by the experience and leadership skills Jeff brings to this role and know he will continue to be instrumental to Chiquita's future success. Given his significant involvement in all of our financial decisions over the last several years as treasurer, I expect this will be a very seamless transition."

Aguirre stressed that this management transition is not connected in anyway to the employee conduct issue announced recently

"Jay has conducted himself with great integrity during his time in the position," Aguirre said. "We are pleased that he has agreed to stay on with the company to contribute in new business development, an area where Chiquita requires more financial expertise and one which is particularly suited to his strengths."

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