Anna Fabrega is leaving Local Bounti as part of a company's restructuring, and Craig Hurlbert, co-founder of Local Bounti and CEO prior to Anna Fabrega, will take up the role of CEO. According to the company, this restructuring is expected to save approximately $3.2 million on an annualized basis as a result of these actions.
Craig Hurlbert, CEO of Local Bounti, stated, "We have an amazing team at Local Bounti that I believe possesses the unique capabilities to cement our place as a leader in our industry. As we continue to scale this business, we are working diligently to achieve breakeven cashflow. Our primary objective is to drive greater efficiency at every level of the business through optimization of our cost structure and further flattening of our organization to enable faster decision-making and enhance strategic initiatives. I believe our mandate is simple – to foster an environment of excellence and ensure that we have the right people in the right places to maximize value for both our customers and shareholders. I'm pleased to say that we are definitely on the right track, and I look forward to leading our team to new heights. I would like to thank Anna for her contribution to our success over the past six months."
For more information:
Local Bounti
www.localbounti.com