Planet Based Foods Appoints CFO and Independent Director as Governance Reforms Progress
Planet Based Foods (OTC:PBFFF) announced significant leadership changes and governance updates as part of its operational turnaround strategy. The company has appointed Supreet Sidhu as Chief Financial Officer, replacing Emrah Petorak who will step down from the Board. Additionally, Beata Jirava joins as an independent director.
The company has filed a petition with the Supreme Court of British Columbia seeking relief regarding its AGM timing for 2023 and 2024. Due to financial constraints caused by declining consumer interest in plant-based meats and cost structure issues, PBFFF plans to hold both AGMs concurrently by December 31, 2025.
Planet Based Foods (OTC:PBFFF) ha annunciato importanti cambiamenti nel management e aggiornamenti nella governance come parte della sua strategia di rilancio operativo. La societ脿 ha nominato Supreet Sidhu come Chief Financial Officer, in sostituzione di Emrah Petorak che lascer脿 il Consiglio di Amministrazione. Inoltre, Beata Jirava entra a far parte del consiglio come direttrice indipendente.
La societ脿 ha presentato una petizione alla Corte Suprema della British Columbia chiedendo una deroga riguardo alla tempistica delle assemblee generali ordinarie (AGM) per il 2023 e il 2024. A causa di vincoli finanziari derivanti dal calo dell鈥檌nteresse dei consumatori verso le carni a base vegetale e da problemi nella struttura dei costi, PBFFF prevede di tenere entrambe le assemblee entro il 31 dicembre 2025.
Planet Based Foods (OTC:PBFFF) anunci贸 cambios significativos en su liderazgo y actualizaciones en la gobernanza como parte de su estrategia de reestructuraci贸n operativa. La compa帽铆a ha nombrado a Supreet Sidhu como Director Financiero, reemplazando a Emrah Petorak, quien dejar谩 la Junta Directiva. Adem谩s, Beata Jirava se une como directora independiente.
La empresa present贸 una petici贸n ante la Corte Suprema de Columbia Brit谩nica solicitando una excepci贸n respecto a la programaci贸n de sus asambleas generales anuales (AGM) para 2023 y 2024. Debido a limitaciones financieras causadas por la disminuci贸n del inter茅s de los consumidores en las carnes a base de plantas y problemas en la estructura de costos, PBFFF planea realizar ambas asambleas de forma conjunta antes del 31 de diciembre de 2025.
Planet Based Foods (OTC:PBFFF)電� 鞖挫榿 鞛爼牍� 鞝勲灥鞚� 鞚柬櫂鞙茧 欷戨寑頃� 毽崝鞁� 氤�頇旍檧 瓯半矂雱岇姢 鞐呺嵃鞚错姼毳� 氚滍憸頄堨姷雼堧嫟. 須岇偓電� Supreet Sidhu毳� 斓滉碃鞛毂呾瀯鞛�(CFO)搿� 鞛勲獏頄堨溂氅�, Emrah Petorak電� 鞚挫偓須岇棎靹� 氍茧煬雮╇媹雼�. 霕愴暅 Beata Jirava臧� 霃呺 鞚挫偓搿� 頃╇頄堨姷雼堧嫟.
須岇偓電� 2023雲� 氚� 2024雲� 鞝曣赴 欤检＜齑濏殞(AGM) 鞚检爼瓿� 甏�霠晿鞐� 敫岆Μ韹办嫓旎熂牍勳晞 雽�氩曥洂鞐� 甑牅毳� 鞖旍箔頃橂姅 觳洂靹滊ゼ 鞝滌稖頄堨姷雼堧嫟. 鞁濍靹� 瓿犼赴鞐� 雽�頃� 靻岆箘鞛� 甏�鞁� 臧愳唽鞕� 牍勳毄 甑“ 氍胳牅搿� 鞚疙暅 鞛爼鞝� 鞝滌暯鞙茧 鞚疙暣 PBFFF電� 霊� 頃挫潣 AGM鞚� 2025雲� 12鞗� 31鞚�旯岇 霃欖嫓鞐� 臧滌禍頃� 瓿勴殟鞛呺媹雼�.
Planet Based Foods (OTC:PBFFF) a annonc茅 d'importants changements de direction et des mises 脿 jour de gouvernance dans le cadre de sa strat茅gie de redressement op茅rationnel. La soci茅t茅 a nomm茅 Supreet Sidhu au poste de Directeur Financier, en remplacement d'Emrah Petorak qui quittera le conseil d'administration. De plus, Beata Jirava rejoint le conseil en tant qu'administratrice ind茅pendante.
La soci茅t茅 a d茅pos茅 une requ锚te aupr猫s de la Cour supr锚me de la Colombie-Britannique pour demander une d茅rogation concernant le calendrier de ses assembl茅es g茅n茅rales annuelles (AGM) pour 2023 et 2024. En raison de contraintes financi猫res li茅es 脿 la baisse d'int茅r锚t des consommateurs pour les viandes 脿 base de plantes et 脿 des probl猫mes de structure des co没ts, PBFFF pr茅voit de tenir les deux assembl茅es simultan茅ment d'ici le 31 d茅cembre 2025.
Planet Based Foods (OTC:PBFFF) hat im Rahmen seiner operativen Umstrukturierungsstrategie bedeutende F眉hrungswechsel und Governance-Updates bekanntgegeben. Das Unternehmen hat Supreet Sidhu als Chief Financial Officer ernannt und ersetzt damit Emrah Petorak, der aus dem Vorstand ausscheidet. Zudem tritt Beata Jirava als unabh盲ngiges Vorstandsmitglied bei.
Das Unternehmen hat beim Obersten Gerichtshof von British Columbia einen Antrag gestellt, um eine Ausnahme bez眉glich des Zeitplans seiner Hauptversammlungen (AGM) f眉r 2023 und 2024 zu erwirken. Aufgrund finanzieller Einschr盲nkungen infolge nachlassenden Verbraucherinteresses an pflanzenbasiertem Fleisch und Problemen in der Kostenstruktur plant PBFFF, beide Hauptversammlungen bis zum 31. Dezember 2025 gleichzeitig abzuhalten.
- None.
- Historical financial constraints prevented timely AGM meetings
- Sharp post-pandemic decline in consumer interest for plant-based meats
- Company facing governance compliance issues requiring court intervention
Vancouver, British Columbia--(Newsfile Corp. - August 6, 2025) - Planet Based Foods Global Inc. (CSE: PBF) (OTC Pink: PBFFF) (FSE: AZ00) ("Planet Based Foods" or the "Company"), today announced key leadership and governance updates as it continues to advance its operational turnaround and rebuild investor confidence.
Effective immediately, Supreet Sidhu has been appointed Chief Financial Officer, bringing proven financial leadership to the next phase of PBFG's growth. Supreet succeeds Emrah Petorak, who will step down from the Board of Directors. The Company thanks Petorak for contributions during a critical period of transition.
In parallel, PBFG has appointed Beata Jirava as an independent director, further strengthening its board as it evolves into a professionally governed, impact-driven company.
As part of broader governance reforms, PBFG has filed a petition with the Supreme Court of British Columbia requesting relief related to the timing of its Annual General Meetings ("AGMs") for the financial years ending December 31, 2023 and December 31, 2024.
Due to historical financial constraints, stemming from a sharp post-pandemic decline in consumer interest in plant-based meats and an unsustainable cost structure, PBFG was unable to hold its AGMs within the timelines prescribed by the Business Corporations Act. These challenges have since been addressed through a recapitalization, restructuring, and a refreshed executive team.
To bring its governance fully current, PBFG's petition seeks court approval to:
- Host the 2023 and 2024 AGMs concurrently, no later than December 31, 2025
- Deem the Company compliant with AGM requirements retroactively once held
- Dispense with formal service of the petition to all shareholders, given the impracticality of individual notice
A court hearing will be scheduled following the 21-day response window, with further updates to follow.
These steps represent PBFG's continued commitment to transparency, good governance, and sustainable value creation for all stakeholders.
About Planet Based Foods Global Inc.
Planet Based Foods Global Inc. is reimagining the future of food through a diverse portfolio of sustainable ingredients, plant-based solutions, and advancements in agricultural technology. With a focus on environmental stewardship, product excellence, and scalable impact, the Company empowers food manufacturers, partners, and consumers to participate in a cleaner, healthier, and more resilient global food system. Planet Based Foods operates with integrity and purpose, delivering products that align with evolving consumer values and contribute to a more sustainable future.
Additional information is available at .
On Behalf of the Board
Claire Skillen
Chief Executive Officer and President
Contact: [email protected]
For further details or inquiries regarding the petition:
Andrew McLeod
PEAK Legal Counsel
Email: [email protected]
Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995. Forward-looking
statements include, but are not limited to, statements regarding future plans, strategies, objectives, expectations, and intentions of Planet Based Foods Global Inc. ("the Company"). These statements are based on current expectations and assumptions that are subject to risks and uncertainties, many of which are beyond the Company's control.
Such risks and uncertainties include, without limitation, industry developments, regulatory changes, access to capital, operational challenges, supply chain disruptions, and economic conditions. Actual results may differ materially from those expressed or implied in forward-looking statements. Readers are cautioned not to place undue reliance on these statements.
The Company undertakes no obligation to update or revise any forward-looking statements except as required by law. Additional information, including risk factors, is available in the Company's public filings on SEDAR+ at .
The Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this release and accepts no responsibility for its adequacy or accuracy.
To view the source version of this press release, please visit
FAQ
Who is the new CFO of Planet Based Foods (PBFFF)?
When will Planet Based Foods (PBFFF) hold its next Annual General Meeting?
Why did Planet Based Foods (PBFFF) miss its AGM deadlines?
What governance changes has Planet Based Foods (PBFFF) implemented?
How is Planet Based Foods (PBFFF) addressing its operational challenges?
