In an announcement to the stock exchange Thursday night, salad producer Calera stated that Daniel Malechuk has resigned as CEO. In the letter, the company wrote that Malechuk is resigning to pursue other opportunities.
– The Board would like to thank Daniel for his leadership and hard work in recent years. Calera has come a long way since it started, and is now well positioned to achieve the goal of becoming a world leader in sustainable indoor farming, incoming President Kim Loebdrop says in the report.
The market reacted positively at the opening of trading on the Oslo Stock Exchange on Friday, and after a quarter of an hour the stock rose by four percent.
Understand the lack of confidence
The company has tried to cement its position by growing the high-tech salad indoors at facilities in the USA, but has struggled with the stock market so far this year. Since the peak in February this year, the share has fallen more than 70 percent.
Tord Laeskogen owns the traditional Sundvolden Hotell with his wife Cecilie, and is the 35th largest shareholder in Kalera with a record currently of NOK 7.5 million through the investment firm Sundvolden Holding. He has fundamental confidence in the company, despite the turmoil in the stock exchange.
– But then I understand the lack of confidence in the matter and that they should do something about it. It’s a great company, and I believe and hope that they will be successful in what they do, says Lyskogen.
It’s referring to the episode Calera had to do Clarify that they are offered for sale as measured by the number of heads of authority and not in dollars, In a presentation related to a private placement of 300 million NOK in November.
Laeskogen has a hotel education from Germany, as well as a degree from Cornell University in the USA. It gave him faith in the method of cultivating Calera in a controlled environment.
– I’ve been washing power in Hamburg for three consecutive months. I know what this is about. The value chain that Calera is looking to create is good for the environment, provides less polluting fertilizer in our lakes, and provides us with good quality raw materials,” he says.
Some may be disappointed in the short term
Although the price has fallen sharply this year, the investment is a plus for the Laeskogen segment, when it went through a capital increase to seven kroner per share prior to the company’s listing. He traded all the way, and sold a lot when the stock was in his 30s. Recently, he’s bought himself again, and he says it’s basically long-term.
This is the case with these companies that price growth up front, and then some may be disappointed in the short term. If they keep working steadily, I think it would be great, he says.
Among other things, he points to the quality of American customers to explain their belief in the company.
Kalera faces the same challenge as the salmon industry. When hotels and restaurants break down, they rely on groceries, which unfortunately pay less, says the owner of Sundvolden.
– But one day this pandemic is over, Laeskogen continues.
Hagen Paper Loss
DN was unsuccessful in contacting outgoing senior manager Malechuk on Thursday.
Curtis McWilliams, who usually sits on Calera’s board of directors, takes over as interim CEO.
“We are excited to have the proven leadership skills of Curtis and the outstanding results in creating shareholder value that he will bring in his interim CEO role,” Lubdrop’s incoming Chairman said in the announcement.
Among the biggest shareholders in Calera are Canica, which is controlled by Stein Erik Hagen, and Macama, which is controlled by real estate billionaire Erik Bøhler. In the most recent list of shareholders, Hagen owns just over five percent of the stock in the company.
Hagen did not respond to DN inquiries Thursday night.
Kalera was listed on the low-threshold Euronext Growth Exchange in November of last year. When the company went public, the stock was trading for NOK 22.
In November, the company submitted its final quarterly report for the third quarter. Show that the power maker has lost Nearly 100 million NOK in the third quarter.(Conditions)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using a link that leads directly to our pages. All or part of the Content may not be copied or otherwise used with written permission or as permitted by law. For additional terms look here.
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