CEO of Meal Delivery Company Goodfood Abruptly Departs AMID Recent Losses | Betakit

Jonathan Ferrari, The Co-Founder of the Online Grocer and Meal Delivery Company Goodfood, Stepped Down as CEO and Board Chair Last Week.

The move is immediati and will see President, COO, and Fellow Co-Founder Neil Cuggy Handle ”Day-to-Day Operations,” According to a company release. The montréal-based firm has also launched a “formal operating review” that it said will help keep goodfood competition and get through “Next Critical Phase.”

“While [Goodfood] Has Faced Headwinds, it also also holds significant potential. “

SELIM Bassoul, Chair

In a statement, Ferrari said He Had “Complete Confidence” in Cuggy and was happy with what he had accounted in 11 years in 11 years leading the company.

“Goodfood has been an incredible journey and, starting from zero, I am extramely proud to have scled into a National Brand Powered Powered by Our Talented Team,” Ferrari Said.

Ferrari will remain on the board as a director. Goodfood has appointed SELIM BASSUL, The Executive Chair of American Theme Park Operator Six Flags, as its new Board Leader. He Claimed That Running Over 1,200 Six Flags restaurants offered “Valuable Insight” into Custo Customer Desires, and that he saw an opptunity in the cannadian brand.

“While [Goodfood] Has Faced Headwinds, it also alls allds significant potential, “Bassoul said.

Betakit has asked goodfood for details Regarding the departure and review, but did not receive a response by publication time.

Goodfood Achieved Record Revenue of $ 100.7 Million in Its Second Fiscal Quarter of 2021, When the Covid-19 Pandemic Drove Demand for Home Delivery of Groceries and Meals. The company was also trading at an all-time high of over $ 13 per share on the toronto stock exchange (TSX).

Related: After a tough year, goodfood switches up cfo, promoting vp roslane aouameur

Performance Fell Sharply during the Pandemic Recovery as People Returned to in-Person Shopping and Work, Prompting Losses, Layoffs, and a March 2023 Change of Cfos. Goodfood has Seen a String of Recent Quarters with Net Losses (Including $ 2 Million Per Quarter Between Q4 2024 and Q2 2025) And Net Sales Between $ 31 Million and $ 34 Million. Its shares currently trade at 20 cents on the tsx.

Goodfood Acquired A 81-Percent Controlling Stake in Tea Brand Genuine Tea in November 2024. The account is “Continuing to Outperform Expectations” Goodfood said in a July earnings release. The company is also also Raising Money Through a Bitcoin-Based Exchange-TRADED Fund, where it not holds $ 3.2 million after making a $ 3-million initial investment.

The news comes as another québec meal kit provider, Saint-Hyacinthe-Based WeCook, is launching a program that delivers ready-to-set meals to workplaces. Wecook claims this brings the advantages of direct-to-consumer meal services to businesses as they help “modernize” their wellness strategies.

Feature Image Courtesy Goodfood.