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Arcadia Biosciences Announces CFO Transition

Arcadia Biosciences, Inc. announced that CFO Pam Haley will be leaving the company and will be replaced by Thomas J. Schaefer, effective January 3, 2023, according to a release. Schaefer is currently Arcadia’s vice president of finance and investor relations. Haley will remain in an advisory role to support the transition.

“On behalf of Arcadia, I would like to thank Pam for her many contributions over the past 17 years,” said Kevin Comcowich, the board of directors chairman. “She has been instrumental in guiding the company through numerous changes and challenges, and while we are sad to see her go, we wish her all the best in the next phase of her career.”

Schaefer is an accomplished finance executive with more than 20 years of experience in investments and corporate finance. He began his career as an equity research analyst and later joined a Fortune 500 company where he helped lead several acquisitions and divestitures. In 2013, Schaefer moved into consumer products where he led teams, developed long-range strategies and helped launch new products across a variety of industries including vitamins and apparel. He later served as director of finance at Flavor Producers, a portfolio company owned by private equity firm GTCR that specialized in beverages and snacks, before joining Arcadia in 2020.

Schaefer earned a bachelor of business administration in economics and finance from McKendree University and a master of business administration from the Marshall School of Business at the University of Southern California. He also holds the Chartered Financial Analyst (CFA) designation.

“T.J. has played a lead role in the commercial launch of GoodWheat as well as the development of our long-term strategy known as Project Greenfield,” said Stan Jacot, CEO. “With his industry knowledge and solid relationships throughout the organization, he has already had a huge impact as we transitioned from ag research to consumer goods, and I welcome his leadership in building the financial organization to support our future growth.”

“Arcadia is in the early stage of commercial product launch with many exciting opportunities on the horizon,” said Schaefer. “I look forward to working closely with the team to make these products successful.”