According to Richard Kelly, Nutriati CEO and co-founder, the CEO transition plan comes at a moment when a number of the company’s goals have been reached. “We have achieved key milestones, including the establishment of our sourcing and manufacturing base, raising $15 million in capital, building and staffing a Culinary Center for food development work, and the successful commercial launch of two market-leading ingredients in the plant-based foods space —Artesa Chickpea Protein and Artesa Chickpea Flour earlier this year,” he said. “It is exciting to have reached the revenue generation stage and especially to have the support of committed investors for the on-going growth of our business. As we continue to build the business, we have decided that is the right time to bring in my successor as CEO. Michael Todd is an excellent fit for Nutriati with his extensive experience leading companies in food ingredients and demonstrated leadership skills in building revenue and profitability. I look forward to transitioning the operating role to an experienced, innovative food ingredient executive to execute our plan,” he added.
According to Michael Sands, Nutriati Board Chair, the selection of Mr. Todd as CEO reflects the new phase Nutriati is entering as it has successfully commercialized its first two ingredients. “The Board, Investors, and Employees of Nutriati are extremely grateful for Richard Kelly’s vision and leadership in bringing the idea of pulse grain proteins and flours from unproven concept to the status of a cutting-edge, commercially viable, food technology company. We are very pleased that Richard will remain through 2018 to onboard his successor, and will continue to advise the company and the board in 2019 and beyond. We are thrilled to have Michael Todd join our venture and believe that he will build on the tremendous foundation that Richard established,” he added.
Mr. Kelly said that Nutriati and its exclusive commercialization partner PLT Health Solutions are currently engaged in a number of active product development projects with both Artesa Chickpea Flour and Artesa Chickpea Protein in a wide range of food, beverage and supplement applications. “Consumer products companies are recognizing the unique organoleptic, in-product quality and processing properties represented in our Artesa product line and we are actively helping them solve problems as they look to bring high protein, plant-based and gluten-free products to market. As a result of our efforts, at least four trend-forward consumer products featuring our ingredients will come to market, in diverse applications, in the fourth quarter of 2018. This is a direct result of the great work we’ve done with my co-founder Michael Spinelli and our dedicated team,” he said.
Veteran of the Food Ingredients Industry
Mr. Todd has spent more than a decade in food ingredients. While at SunOpta, he had responsibility for the Sunflower, Soybean and Ingredients businesses and their six manufacturing facilities in the Midwest USA. He also helped expand SunOpta’s portfolio of consumer plant-based snacks and developed conventional and organic supply chains for the company – including working with chickpea-based ingredients. Prior to working at SunOpta, Mr. Todd spent five years at the Archer Daniels Midland Company in a range of sourcing and business development positions.
Mr. Todd was awarded a B.A in Economics from Harvard University. He holds a Master of Business Administration from Cornell University, Johnson Graduate School of Management.