DALLAS, TEXAS, US — Thomas J. Schaefer, previously chief financial officer, on July 5 became chief executive officer of Arcadia Biosciences, Inc., replacing Stan Jacot, who has left the company. Mark Kawakami, previously vice president of finance, became the new CFO.

Schaefer has 20 years of experience in investments and corporate finance and was director of finance at Flavor Producers before joining Dallas-based Arcadia in 2020. He has a bachelor’s degree of business administration in economics and finance from McKendree University and a master’s degree of business administration from the Marshall School of Business at the University of Southern California.

“T.J. has played a significant role in the company’s transition from ag research to consumer goods, and he was instrumental in the development of Project Greenfield, the company’s strategic plan to unlock the company’s potential and provide a path to profitability,” said Kevin Comcowich, chairman of Arcadia’s board of directors. “We welcome his leadership as we continue to expand the footprint of Zola coconut water, explore strategic opportunities, monetize our IP and create value for our shareholders.”

Kawakami has more than 20 years of experience in finance and accounting and joined Arcadia in 2021. He received a bachelor’s degree and a master’s degree in business administration from the University of Southern California.

Jacot, previously president of Jane’s Dough Foods, was named CEO of Arcadia in February 2022. Arcadia launched GoodWheat pasta in 2022. Since then, the GoodWheat brand has expanded into pancake mixes, single-serve Quikcakes and macaroni and cheese. Above Food, Regina Sask., is acquiring the GoodWheat brand of wheat products from Arcadia for $4 million.

“On behalf of Arcadia, I would like to thank Stan for his many contributions to the company,” Comcowich said. “Under his leadership, Arcadia expanded the GoodWheat brand into three categories, sold the brand to Above Food, monetized a portion of our wheat IP, revamped Zola coconut water and divested or exited several unprofitable businesses. We wish him all the best in the next phase of his career.”