<p><strong>Charlotte, NC</strong><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Chiquita Brands has announced the search for a new CEO as part of its comprehensive restructuring efforts. The leadership transition was announced in conjunction with the release of the company’s financial and operating results for the second quarter of 2012. According to a press release, the company is focusing its efforts on a new strategic vision to drive profits in its core businesses. In pursuance of this vision, Chiquita’s Board of Directors has formed a committee to oversee the selection of a new CEO as current Chairman and CEO Fernando Aguirre steps down.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">The company reported net income of $6 million on net sales of $833 million and comparable net income of $12 million. For the same period in 2011, the company reported GAAP net income of $78 million on net sales of $870 million and comparable net income of $34 million.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">"It has been an honor to lead Chiquita for almost nine years," Mr. Aguirre states. “Although the current economic times have been tough, I am confident that the company is well positioned to increase its financial performance and drive shareholder value… The future is bright and the time has come to bring in new talent who can lead the company forward."<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Kerri B. Anderson, Chiquita’s Lead Independent Director, states, "On behalf of the Board, we want to thank Fernando for his leadership, dedication and commitment over his almost nine years of service. Given our change in strategy, Fernando and the Board decided to conduct a thorough search to identify the best candidate to serve as Chiquita's next CEO and to jointly execute an effective and smooth leadership transition."</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href="http://www.chiquita.com/Home.aspx" target="_new"> Chiquita</a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">
