Freshii gets new CEO as founder Matt Corrin steps aside
BNN Bloomberg
Freshii, the Canadian fast-food brand that brought salad and bowls to the masses, is getting a new boss, potentially signalling a fresh start for the company whose stock rapidly fell out of favour after a high-profile IPO
Matt Corrin, Freshii's founder and chief executive, will transition to the role of executive chairman after Daniel Haroun, who currently serves as the company's chief financial officer, inherits the role of chief executive as of Thursday, the company said after markets closed Wednesday.
"In my role as executive chairman, I intend to maintain my significant shareholdings in Freshii, be our biggest brand champion, and our most loyal guest — for the long term. I am confident in Daniel’s ability to lead our brand and culture on a path that is accretive to the company’s share value," Corrin said in a release.
Freshii pulled off a glitzy initial public offering ceremony at the Toronto Stock Exchange broadcast centre in January 2017 — the stock peaked a few weeks later. As of the close of trading Wednesday, the company’s shares were down almost 87 per cent since their debut as investors were scared off by an ambitious growth strategy, rapidly intensifying competition, and a series of disappointing sales performances.
