LOS ANGELES, CA - An executive transition is in the works as ProducePay announced a new Chief Executive Officer. Patrick McCullough, a global corporate veteran, has stepped up to take on the mantle as Pablo Borquez Schwarzbeck transitions to Executive Director of the Board of Directors. Additionally, Co-Founder Ben Dusastre will step down as ProducePay’s President to continue his passion for supporting startup companies.
“I’ve been incredibly fortunate to work closely with the talented team at ProducePay and witness firsthand how this online marketplace profoundly benefits produce sellers and buyers,” said McCullough. “I’m proud to take on this role and to extend the company’s growth pathway as we enter new markets and continue providing the produce industry with high-impact services that directly improve their businesses.”
Prior to being appointed CEO, McCullough served as a Board member and advisor to ProducePay for two years. An esteemed global business leader, McCullough brings to this role more than 25 years of corporate experience and deep expertise in international business development, structuring, and joint ventures from leadership positions held at startups and Fortune 500 companies.
This appointment follows a breakout year of accelerated growth and commercial milestones for ProducePay. As a Board member and advisor, McCullough has played a vital role in ProducePay's capital raising and more than quadrupling the platform’s Gross Merchandise Value to nearly $4 billion over the past two years. As CEO, he will continue to scale the business, while partnering with Borquez Schwarzbeck and the Board to deliver customer and shareholder value.
“Patrick’s prior experience as CEO; his expertise in customer acquisition; and his intimate knowledge of our business, products, and mission make the perfect combination of skills to take ProducePay to new heights,” said Borquez Schwarzbeck, now the Executive Director of the Board. “With Patrick helming the leadership team, ProducePay will accelerate its expansion exponentially in current and new markets and advance its mission to further transform the global produce industry.”
According to the release, Borquez Schwarzbeck has served as CEO since founding the company in 2014. Since ProducePay’s founding, he has raised $500 million in equity and debt capital while being a staunch advocate for empowering farmers by giving them direct access to market and financial solutions. In his new role, Borquez Schwarzbeck will continue to help guide the company’s vision and spend more time listening to customers and advising ProducePay on its services and offerings.
Amid the CEO transition, Dusastre will be stepping down as President of the company. He will, however, maintain a close relationship with ProducePay as a member of the Board and part of the company’s Credit Committee.
“Ben has been an amazing partner from ProducePay’s inception and has been a driving force behind the company’s growth. It has been an incredible journey for us to get to where we are now, and he will continue to be instrumental to the company’s future success,” Borquez Schwarzbeck continued.
Check out the full press release here to learn more about these vital leaders and the innovative company. And keep a tab open for ANUK to report on the latest.
