DAVIS, CALIFORNIA, US — Arcadia Biosciences, Inc. has initiated a search for a new chief executive officer, a move that coincides with the company’s expansion into the consumer packaged goods sector. Matthew Plavan, who has been CEO since 2019, will step down from the role once a successor is named.
Plavan joined Arcadia in 2016 as chief financial officer, and later was named president of Arcadia Specialty Genomics in February 2019.
“The progress we have made in a remarkably short period of time after planting the flag as a CPG company has been extraordinary, and it’s a testament to the talent and commitment of our team,” Plavan said. “"With a portfolio of plant-based, better-for-you food and wellness products now in place and under development, Arcadia is well-positioned to leverage its innovation-oriented heritage, elevate its brands and further penetrate the consumer health and wellness categories. Having reached this pivotal point, the timing makes sense to begin the process of transitioning to a new leader with deep experience running successful CPG organizations who will be able to build on the company’s momentum, accelerate speed-to-market and capitalize on the tremendous growth opportunities ahead.”
Kevin Comcowich, chairman of Arcadia, lauded Plavan’s leadership over the past three years.
“Matt has deftly led Arcadia through a critical transformational phase, as we transitioned our focus from developing to commercializing a portfolio of specialty wheat ingredients, while, at the same time, acquiring and integrating additional food and wellness brands,” Comcowich said. “His talent, energy and dedication — particularly in the face of a global pandemic — have paved the way for significant long-term growth and value creation. We look forward to his ongoing support as we work toward this leadership transition and the passing of the baton to a CPG-industry veteran for Arcadia’s next chapter.”