Wendy Davison has served as president and CEO of the New Jersey-based group, which includes notable brands such as Linda McCartney’s, Ella’s Kitchen, Hartley’s, and New Covent Garden Soup Co, since January 2023. She will be replaced on an interim basis by Alison Lewis.
This leadership change coincides with a concerning announcement, as year-on-year net sales have fallen by 11% during Q3, resulting in a net loss of $135 million.
Lewis, who has been a board member since 2024, brings over 30 years of experience from leading consumer goods companies, including Kimberly-Clark Corporation and Johnson & Johnson, to her new role.
With Lewis already in her position, the board will now initiate its search for the company’s next permanent CEO.
Commenting on Davison’s departure, Hain Celestial chair Dawn Zier stated that the board recognized the importance of transitioning to new leadership at this time.
“We appreciate that Alison Lewis, a seasoned executive with vast industry and leadership experience, has agreed to serve as interim president and CEO while we execute our succession plan,” Zier added.
“Alison has a track record of driving superior in-market execution, delivering disciplined and profitable revenue growth, and leveraging innovation to create value. During this transition period, we will remain focused on maximizing the value of Hain.”
On her appointment, Lewis expressed her eagerness to lead Hain Celestial, emphasizing her commitment as if she were assuming the role permanently.
“We are fortunate to have a capable leadership team, and we will continue to focus on enhancing our earnings power, strengthening our balance sheet, and positioning the business for long-term success,” Lewis said.
Additionally, the board announced a comprehensive review of the company’s portfolio, conducted in collaboration with its independent financial advisor, Goldman Sachs & Co.
This review will explore a broad range of strategic options aimed at enhancing value; however, no specific timeline for its completion has been provided.
“In light of recent performance, the board has decided that a thorough evaluation of the company’s strategy and portfolio is warranted to determine the best approach to maximize shareholder value,” Zier remarked.
“With this review underway, we remain focused on operating our business effectively, ensuring we have a strong path to achieve sustainable growth and value creation.”
