Mission Produce Charts New Era with CEO Transition and Board Overhaul

OXNARD, CA – December 18, 2025 – Mission Produce, Inc., the global leader in the Hass avocado market, today announced a pivotal leadership succession plan that will see its founder step into a new role after more than four decades at the helm. The move, set to take effect in April 2026, is part of a broader strategic initiative that includes a significant refreshment of its Board of Directors, positioning the company for its next phase of growth.

Steve Barnard, who co-founded the company in 1983 and has served as its Chief Executive Officer since 1988, will transition to the role of Executive Chairman of the Board. John Pawlowski, the company’s current President and Chief Operating Officer, has been named as his successor and will assume the CEO position at the close of the company's Annual Meeting of Shareholders in April 2026.

This carefully orchestrated transition comes on the heels of two years of exceptional financial results and the completion of a transformative capital investment cycle, signaling a deliberate shift from a founder-led era to a new chapter of professional management focused on accelerating global growth.

A Founder's Legacy, A New Chapter

Under Steve Barnard's leadership, Mission Produce grew from a local California packer into a vertically integrated powerhouse with operations spanning four continents and a distribution network reaching over 25 countries. He is widely credited with professionalizing the avocado industry and establishing the year-round supply chain that consumers now take for granted.

“Over the past four decades, our team has built Mission into the global leader in avocados - expanding our world-class growing operations, strengthening our distribution network across four continents, and establishing Mission as the partner of choice for retailers and foodservice customers worldwide,” Barnard commented in the official announcement. He noted the company's recent strong performance and enhanced cash flow generation as key factors creating an opportune moment for the transition.

In his new capacity as Executive Chairman, Barnard will remain deeply involved. He will continue to serve as Board Chair, guiding the company's long-term strategic direction while working in an advisory capacity with Pawlowski and the executive team. This structure ensures that his invaluable institutional knowledge and industry relationships will continue to benefit the company, providing a seamless blend of continuity and fresh perspective.

The Incoming CEO: A Focus on Operational Growth

John Pawlowski, who will step into the CEO role, is a seasoned executive with over 25 years of experience in the global food and foodservice sectors. Since joining Mission Produce as President and COO in April 2024, he has been instrumental in shaping the company's operational strategy and has been a prominent voice in investor communications.

Prior to Mission, Pawlowski served as President and COO of Lipari Foods, a major independent distributor, and spent over 16 years in various leadership roles at J.M. Smucker, culminating as Vice President of International. His expertise lies in business development, system optimization, and M&A integration - skills directly applicable to Mission’s global ambitions.

“I am honored to take on the role of CEO and grateful to Steve and the Board for their confidence,” said Pawlowski. “Mission Produce is exceptionally well-positioned - our investments in world-class growing operations and global distribution infrastructure have created significant durable competitive advantages that are driving our strong performance.”

Since Pawlowski's arrival, the company has emphasized a “volume-centric approach” to secure market share, particularly in the burgeoning European and Asian markets. His focus is on leveraging the company's extensive infrastructure to drive efficiency and profitability as Mission pivots to a period of greater free cash flow generation. He inherits a company in a position of strength, poised to capitalize on the robust global demand for avocados.

A Strategically Refreshed Board

Concurrent with the CEO succession, Mission Produce has undertaken a strategic refreshment of its Board of Directors. Throughout 2025, the company appointed three new highly qualified independent directors, a move designed to enhance the board's expertise and align its oversight capabilities with future challenges.

The new appointees bring a wealth of experience from diverse sectors:
* Michael Sims, appointed in May, is a veteran financial executive with experience at Chiquita Brands International and The Hain Celestial Group. His deep financial acumen will be critical as he prepares to chair the Audit Committee.
* Laura Flanagan, appointed in June, is a food and beverage industry leader with CEO experience at Foster Farms and Ripple Foods. Her operational expertise will inform her roles on the Nominating and Corporate Governance and Audit Committees.
* Douglas Stone, appointed in November, brings decades of leadership in the agribusiness industry, including his tenure as President of AgriBusiness at J.R. Simplot Company. His direct agricultural insight will be invaluable to the Compensation Committee.

These appointments coincide with the planned retirements of two long-serving members at the 2026 Annual Meeting: Stephen Beebe, the current Board Chair, and Bonnie Lind, Chair of the Audit Committee. “I want to recognize Stephen Beebe’s contributions in building Mission into the industry leader it has become over the past four decades,” Barnard stated, also thanking Lind for her service. To ensure strong independent oversight, current board member Linda Segre has been appointed as the new Lead Independent Director.

Navigating a Ripe but Complex Market

The leadership and governance overhaul is a proactive response to the complexities of the modern global produce market. While avocado consumption continues to surge, driven by health and wellness trends, the industry faces significant headwinds. Supply chains are vulnerable to climate events, like the El Niño patterns that impacted Peruvian crops, and geopolitical instability. Furthermore, while demand is strong, increased industry volumes can create pricing pressure, and there is a growing consumer and regulatory focus on sustainable farming practices.

Mission Produce appears well-fortified for this environment. The company's financial health is robust, as evidenced by a perfect Piotroski Score of 9 - a top rating for financial stability - and strong revenue growth that pushed it past $1.4 billion in the last year. Analyst sentiment remains bullish, with many seeing significant upside potential in the stock.

By diversifying its portfolio with mangos and a growing blueberry program, and by strengthening its leadership team with targeted expertise, Mission Produce is strategically positioning itself to not only mitigate risks but also to capitalize on new opportunities. The carefully planned handover ensures that as the company embarks on its next chapter, it does so from a position of operational strength, financial stability, and strategic clarity, ready to cement its leadership in the dynamic global produce landscape.