IVFHD Innovative Food Holdings Inc.

Innovative Food Holdings Announces Leadership Transition

Innovative Food Holdings Announces Leadership Transition

BROADVIEW, Ill., Oct. 06, 2025 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB: IVFH), a specialty food platform (the “Company” or “IVFH”), today announced a leadership transition aligned with its three-phased strategy to restore financial health, build a scalable platform, and accelerate long-term growth.

The Board of Directors of the Company (the “Board”) has appointed Gary Schubert, current Chief Financial Officer, as Chief Executive Officer and Director on the Board. Mr. Schubert’s leadership will guide the Company through the next stages of its transformation, with a focus on growth, operational excellence, and shareholder value creation.

“I am honored to step into the CEO role at IVFH,” said Gary Schubert. “Looking ahead, 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. At the same time, we remain firmly anchored in operational excellence — integrating our owned warehouse assets with our drop-ship vendor network to deliver reliable, best-in-class service for our customers. By balancing growth with disciplined execution, we will build on the stabilization achieved in recent years, strengthen our foundation for scalable expansion, and position IVFH to accelerate into its next chapter of growth — driving sustainable profitability, long-term shareholder value, and our ambition to grow into a specialty food leader.”

As part of the transition, current Chief Executive Officer and Director, Bill Bennett, will step down from both roles, and move into a consulting role with the Company effective October 3, 2025, ensuring continuity and sharing his expertise during the transition. He will continue supporting the leadership team in this new role through March 31, 2026.

“It has been a privilege to serve as CEO of IVFH and work alongside such a dedicated and capable Board and team,” said Bill Bennett. “During my tenure, we stabilized the Company by streamlining operations, exiting non-core businesses, improving gross margins, restoring focus on the foodservice business, and achieving three straight years of positive adjusted EBITDA for the first time in over a decade. Having positioned IVFH for its next chapter, the Board and I both felt that this was the right time for me to transition to an advisory role. I am proud of what we accomplished together, and am excited to support Gary and the team as they carry the strategy forward. His expertise in finance, strategy, and operations, supported by his many years of experience at the world’s largest companies, position him to make a tremendous impact during this next chapter of the Company’s growth.”

Board Statement on the Transition

“We are confident in IVFH’s ability to execute its strategy under Gary’s leadership,” the Board said in an announcement. The Board added, “Gary brings deep financial expertise, disciplined operational oversight, and a proven track record of strengthening the Company’s foundation. Under his leadership, IVFH is well positioned to move from stabilization into a focused platform for growth and, ultimately, into a scaled role as a technology-enabled redistributor serving chefs, retailers, and consumers nationwide.

We are grateful to Bill for his leadership during a period of transformation. He successfully stabilized the Company after a long period of losses by streamlining operations, exiting non-core businesses, and broadening specialty offerings. This transition reflects the Board’s confidence in the team and the foundation Bill helped create. His work set the stage for IVFH’s transition into growth and scaling, and we are pleased that he will continue to provide counsel during this important leadership change.”

About Innovative Food Holdings, Inc.

Innovative Food Holdings (OTCQB: IVFH) is a platform of specialty food companies with a focus on delivering high-quality, unique food products to both professional chefs and consumers nationwide. Through a combination of direct-to-chef and e-commerce channels, IVFH provides access to the highest quality ingredients, enhancing culinary experiences across the country. For more information, please visit 

Forward-Looking Statements

This press release contains certain forward-looking statements and information relating to the Company that are based on the current beliefs of the Company’s management, as well as assumptions made by, and information currently available to, the Company. Such statements, including those related to the Company’s growth plans, reflect the current views of the Company with respect to future events and are subject to certain assumptions, including those described in this press release. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein, which include words such as “should,” “could,” “will,” “anticipate,” “believe,” “intend,” “plan,” “might,” “potentially,” “targeting,” “expect,” or similar expressions. Additional factors that could also cause actual results to differ materially relate to current conditions and expected future developments, international crises, environmental and economic issues and other risk factors described in the Company’s filings with the Securities and Exchange Commission (“SEC”). As a result, readers are cautioned not to place undue reliance on these forward-looking statements and should understand that these statements are not guarantees of performance or results and that there are a number of risks, uncertainties and other important factors, many of which are beyond the Company’s control, that could cause the Company’s actual results to differ materially from those expressed in these statements, including, among others: economic factors affecting consumer confidence and discretionary spending; cost inflation/deflation and commodity volatility; competition; reliance on third party suppliers and interruption of product supply or increases in product costs; changes in the Company’s relationships with vendors and customers. The Company does not intend to update these forward-looking statements.

For a detailed discussion of these risks, uncertainties and other factors that could cause the Company’s actual results to differ materially from those anticipated or expressed in any forward-looking statements, see the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the SEC. Additional risks and uncertainties are discussed from time to time in current, quarterly and annual reports filed by the Company with the SEC, which are available on the SEC’s website at /.

Contact:

Gary Schubert

CEO



239-449-3249



EN
06/10/2025

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Innovative Food Holdings Inc.

 PRESS RELEASE

Innovative Food Holdings Announces Leadership Transition

Innovative Food Holdings Announces Leadership Transition BROADVIEW, Ill., Oct. 06, 2025 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB: IVFH), a specialty food platform (the “Company” or “IVFH”), today announced a leadership transition aligned with its three-phased strategy to restore financial health, build a scalable platform, and accelerate long-term growth. The Board of Directors of the Company (the “Board”) has appointed Gary Schubert, current Chief Financial Officer, as Chief Executive Officer and Director on the Board. Mr. Schubert’s leadership will guide the Company th...

 PRESS RELEASE

Innovative Food Holdings, Inc. Reports Financial Results for Second Qu...

Innovative Food Holdings, Inc. Reports Financial Results for Second Quarter of 2025 Key second quarter reported data points: Revenue of $21.1 million, +26.9% vs. Q2 2024GAAP net income (loss) from continuing operations* of $59 thousand vs. ($60) thousand in Q2 2024GAAP net income (loss) from continuing operations* per fully diluted share of $0.001 vs. ($0.001) in Q2 2024Non-GAAP adjusted EBITDA of $228 thousand vs. $859 thousand in Q2 2024, with declines driven by the cheese conversion businessSubsequent Events: Announced exit of cheese conversion business, and entered into agreement to se...

 PRESS RELEASE

Innovative Food Holdings, Inc. Announces Second Quarter 2025 Earnings ...

Innovative Food Holdings, Inc. Announces Second Quarter 2025 Earnings Call BROADVIEW, Ill., Aug. 06, 2025 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB: IVFH) (“IVFH” or the “Company”), a national seller of gourmet specialty foods, today announced the timing for a call with investors to discuss second quarter 2025 financial results. The Company’s management will hold an investor call on August 13, 2025 at 4:00 PM Eastern Time to discuss the Company's second fiscal quarter results for the quarter ended June 30, 2025. At the end of the meeting, the Company will host a question-...

 PRESS RELEASE

Innovative Food Holdings Announces it is Exiting the Cheese Conversion...

Innovative Food Holdings Announces it is Exiting the Cheese Conversion Business, Entering Agreement to Sell Pennsylvania Facility, and Relocating Remaining Profitable Operations to Chicago Facility BROADVIEW, Ill., Aug. 01, 2025 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB: IVFH) (“IVFH” or the “Company”), a national seller of gourmet specialty foods to professional chefs, today announced a strategic decision to exit its cheese conversion business, sell its Pennsylvania warehouse, and relocate its remaining profitable operations to Chicago. IVFH has entered into a definitive...

 PRESS RELEASE

Innovative Food Holdings, Inc. Reports Financial Results for First Qua...

Innovative Food Holdings, Inc. Reports Financial Results for First Quarter of 2025 Key First Quarter data points: Revenue of $19.5 million, +26.0% vs. Q1 2024Organic revenue growth (1) of +22.9% vs. Q1 2024Gross margin declined by 157 basis points vs. Q1 2024 to 22.9%GAAP net income (loss) from continuing operations of ($0.4) million vs. $1.4 million in Q1 2024GAAP net income (loss) from continuing operations per fully diluted share of ($0.008) vs. $0.028 in Q1 2024Non-GAAP adjusted net income (loss) from continuing operations of $49 thousand vs. $161 thousand in Q1 202...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch