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BROADVIEW, Ill. - Innovative Food Holdings, Inc. (OTCQB:IVFH), currently trading at $0.69 and down nearly 58% over the past six months, announced Monday that Chief Financial Officer Gary Schubert has been appointed as Chief Executive Officer and Director on the company’s Board, effective October 3, 2025.
The leadership change aligns with IVFH’s strategy to restore financial health, build a scalable platform, and accelerate long-term growth for the specialty food platform. The company maintains strong liquidity with a current ratio of 3.15, according to InvestingPro data.
Current CEO and Director Bill Bennett will step down from both roles and transition to a consulting position with the company through March 31, 2026, to ensure continuity during the transition period.
"I am honored to step into the CEO role at IVFH," said Schubert. "We see continued opportunities to expand our specialty food platform by growing our item portfolio, increasing points of distribution, and leveraging technology and data to scale more efficiently."
During Bennett’s tenure, the company achieved three consecutive years of positive adjusted EBITDA for the first time in over a decade, according to the press release. His leadership focused on streamlining operations, exiting non-core businesses, improving gross margins, and restoring focus on the foodservice business. Recent financial data shows revenue growth of 19.76% in the last twelve months, with gross margins at 22.3%. InvestingPro analysis reveals 8 additional key insights about IVFH’s performance and valuation.
The Board expressed confidence in Schubert’s leadership, citing his financial expertise, operational oversight, and track record of strengthening the company’s foundation.
Innovative Food Holdings operates as a platform of specialty food companies that delivers food products to professional chefs and consumers nationwide through direct-to-chef and e-commerce channels.
The announcement was made in a company press release issued Monday.
In other recent news, Innovative Food Holdings reported a robust second quarter for 2025, with revenues increasing by 26.9% year-over-year to $21.1 million. This growth was primarily driven by strategic acquisitions. Despite the revenue growth, the company’s gross margin fell to 21% from the previous year. Innovative Food Holdings continues to prioritize financial efficiency and operational improvements. These recent developments highlight the company’s focus on expanding its market presence and optimizing its operations. No analyst upgrades or downgrades were noted in the recent updates. The company’s strategic initiatives appear to be positively impacting its financial performance, as reflected in the reported revenue surge.
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