Hain Celestial Appoints Alison E. Lewis as Permanent CEO
Alison Lewis, who has been serving as the interim CEO of Hain Celestial, is now taking on the role permanently. The organic and natural products maker is hopeful that Lewis will be able to lead the company towards a successful turnaround.
Since assuming the position in May, Lewis has been focusing on stabilizing sales, improving profitability, optimizing cash flow, and deleveraging the company’s balance sheet. Hain Celestial’s portfolio includes popular brands like Terra Chips, Celestial Seasonings teas, and Greek Gods yogurt.
Dawn Zier, the Chair of Hain Celestial, commended Lewis for her strategic initiatives to reduce costs, drive growth, and enhance margins. Zier believes that Lewis’ experience in consumer packaged goods (CPG) positions her well to create shareholder value and lead the company effectively.
Notably, Lewis is the third CEO to lead the New Jersey-based company in the last three years. Wendy Davidson, the previous CEO, was removed from her position in May after a relatively short tenure.
Challenges and Strategies
Despite operating in popular segments like gluten-free and high protein foods, Hain Celestial faces stiff competition from industry giants like General Mills and Nestlé. Economic factors and inflation have further added to the company’s challenges.
Lewis has announced plans to discontinue unprofitable product lines and simplify the company’s portfolio by divesting from businesses that are not performing well. The company is also focusing on cost reduction and restructuring efforts to improve its financial health.
In September, Hain Celestial appointed an interim Chief Business Officer to assist with its transformation initiatives. However, the company reported a decline in net sales in its most recent quarter, with snack sales being a particularly weak area.
Despite these setbacks, Hain Celestial remains committed to its strategic goals under Lewis’ leadership, aiming to overcome its current challenges and emerge stronger in the competitive market.