United Natural Foods Inc (NYSE: UNFI) said this week it had appointed Giorgio “Matteo” Tarditi as President and Chief Financial Officer, effective April 15th.
He is to succeed John W. Howard, who will part ways with the company after a transition period.
As CFO, Tarditi will oversee corporate finance, treasury, strategy, financial planning and analysis, tax, accounting, investor relations, risk management and shared services.
Tarditi started his career with GE in 1997 and assumed roles of increasing responsibility.
”Matteo is a proven executive who, over the course of his more than 26 years at GE, served as CFO for seven business units, including Renewable Energy and Energy Connections as externally reported segments, and large divisions of the Power, Oil & Gas, Aerospace, and Healthcare businesses,” Sandy Douglas, CEO of United Natural Foods Inc, said in a press release.
”His deep financial expertise and knowledge of these businesses enabled him to successfully drive operational excellence, efficiency, and increased productivity in complex transformations and M&A integrations. A certified Lean Six Sigma Black Belt, he also led the development and implementation of processes that have increased forecast accuracy, accountability, and continuous improvement. We are pleased to welcome Matteo to our team and look forward to his contributions.”
Stock Performance
The shares of United Natural Foods Inc (UNFI) closed 1.67% ($0.20) lower at $11.76 in New York on Friday, as they extended the losses from the previous seven market sessions.
The company’s total market cap now stands at $698.977 million.
The shares of United Natural Foods Inc (UNFI) went down 58.07% in 2023, compared with a 10.99% gain for the benchmark index, NYSE Composite (NYA).
The company’s shares have retreated 27.54% so far this year.
Analyst stock price forecast and recommendation
According to TipRanks, at least 3 out of 4 surveyed investment analysts had rated United Natural Foods’ stock as “Hold”, while 1 – as “Sell”. The median price target on the stock stands at $13.25, which translates into a 12.67% upside compared to the closing price on Friday.
The high point of the analyst forecast range stands at $14.00.
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