February 6, 2017 / 1:19 PM / 2 years ago

SunOpta appoints Diamond Foods executive David Colo as CEO

(Reuters) - SunOpta Inc (SOY.TO) (STKL.O) named Diamond Foods Inc executive David Colo as chief executive officer on Monday, months after the Canadian organic food company concluded a strategic review of its business.

Colo, whose appointment is effective Feb. 6, was most recently chief operating officer at Kettle chips maker Diamond Foods.

SunOpta, whose brands include Nature’s Finest and Sunrich Naturals, said interim CEO Katrina Houde would continue on the company’s board. Houde took on the role after Hendrik Jacobs resigned in November.

Brampton, Ontario-based SunOpta hired financial and legal advisers in June to explore strategic alternatives, bowing to pressure from top shareholder Tourbillon Capital Partners LP.

The company said in October it concluded the review with an $85 million investment from Oaktree Capital Management LP to pay off its second-lien debt.

Reporting by Komal Khettry in Bengaluru; Editing by Saumyadeb Chakrabarty

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