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Planet Based Foods (OTC:PBFFF) is shaking things up, announcing key leadership and governance updates as part of its strategy to right the ship. The plant-based protein purveyor has tapped Supreet Sidhu as its new Chief Financial Officer, replacing Emrah Petorak, who will be stepping down from the Board. The company is also welcoming Beata Jirava as an independent director, signaling a move toward stronger governance.
But here’s the twist: PBFFF has filed a petition with the Supreme Court of British Columbia, seeking some leeway regarding its 2023 and 2024 Annual General Meeting (AGM) timelines. Blame it on financial headwinds – declining consumer appetite for plant-based alternatives and a nagging cost structure – that have put the company behind schedule. PBFFF is aiming to hold both AGMs concurrently by December 31, 2025, pending the court’s blessing.
Planet Based Foods (OTC:PBFFF) ha annunciato importanti cambiamenti nel management e aggiornamenti nella governance come parte della sua strategia di rilancio operativo. La società ha nominato Supreet Sidhu come Chief Financial Officer, in sostituzione di Emrah Petorak che lascerà il Consiglio di Amministrazione. Inoltre, Beata Jirava entra a far parte del consiglio come direttrice indipendente.
La società 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’interesse 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) anunció cambios significativos en su liderazgo y actualizaciones en la gobernanza como parte de su estrategia de reestructuración operativa. La compañía ha nombrado a Supreet Sidhu como Director Financiero, reemplazando a Emrah Petorak, quien dejará la Junta Directiva. Además, Beata Jirava se une como directora independiente.
La empresa presentó una petición ante la Corte Suprema de Columbia Británica solicitando una excepción respecto a la programación de sus asambleas generales anuales (AGM) para 2023 y 2024. Debido a limitaciones financieras causadas por la disminución del interés 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)는 운영 재정비 전략의 일환으로 중대한 리더십 변화와 거버넌스 업데이트를 발표했습니다. 회사는 Supreet Sidhu를 최고재무책임자(CFO)로 임명했으며, Emrah Petorak는 이사회에서 물러납니다. 또한 Beata Jirava가 독립 이사로 합류했습니다.
회사는 2023년 및 2024년 정기 주주총회(AGM) 일정과 관련하여 브리티시컬럼비아 대법원에 구제를 요청하는 청원서를 제출했습니다. 식물성 고기에 대한 소비자 관심 감소와 비용 구조 문제로 인한 재정적 제약으로 인해 PBFFF는 두 해의 AGM을 2025년 12월 31일까지 동시에 개최할 계획입니다.
Planet Based Foods (OTC:PBFFF) a annoncé d’importants changements de direction et des mises à jour de gouvernance dans le cadre de sa stratégie de redressement opérationnel. La société a nommé 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 indépendante.
La société a déposé une requête auprès de la Cour suprême de la Colombie-Britannique pour demander une dérogation concernant le calendrier de ses assemblées générales annuelles (AGM) pour 2023 et 2024. En raison de contraintes financières liées à la baisse d’intérêt des consommateurs pour les viandes à base de plantes et à des problèmes de structure des coûts, PBFFF prévoit de tenir les deux assemblées simultanément d’ici le 31 décembre 2025.
Planet Based Foods (OTC:PBFFF) hat im Rahmen seiner operativen Umstrukturierungsstrategie bedeutende Führungswechsel 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 unabhängiges Vorstandsmitglied bei.
Das Unternehmen hat beim Obersten Gerichtshof von British Columbia einen Antrag gestellt, um eine Ausnahme bezüglich des Zeitplans seiner Hauptversammlungen (AGM) für 2023 und 2024 zu erwirken. Aufgrund finanzieller Einschränkungen infolge nachlassenden Verbraucherinteresses an pflanzenbasiertem Fleisch und Problemen in der Kostenstruktur plant PBFFF, beide Hauptversammlungen bis zum 31. Dezember 2025 gleichzeitig abzuhalten.
Negative
- 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
08/06/2025 – 11:32 PM
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 www.sedarplus.ca.
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 www.sedarplus.ca.
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 https://www.newsfilecorp.com/release/261626
FAQ
Who is the new CFO of Planet Based Foods (PBFFF)?
Supreet Sidhu has been appointed as the new Chief Financial Officer of Planet Based Foods, replacing Emrah Petorak.
When will Planet Based Foods (PBFFF) hold its next Annual General Meeting?
The company plans to hold its 2023 and 2024 AGMs concurrently by December 31, 2025, pending court approval.
Why did Planet Based Foods (PBFFF) miss its AGM deadlines?
The company faced financial constraints due to declining consumer interest in plant-based meats and an unsustainable cost structure during the post-pandemic period.
What governance changes has Planet Based Foods (PBFFF) implemented?
The company has appointed Supreet Sidhu as CFO and Beata Jirava as independent director, while implementing broader governance reforms and seeking court approval for AGM timing relief.
How is Planet Based Foods (PBFFF) addressing its operational challenges?
The company has completed a recapitalization and restructuring, appointed new leadership, and is implementing governance reforms to improve transparency and create sustainable value.
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