Indoor agriculture company Local Bounti has promoted Chief Financial Officer Kathleen Valiasek to president and chief financial officer, effective June 24.
The company said this new role reflects Valiasek’s impact on its improved operating efficiency. Valiasek joined Local Bounti as its CFO in April 2021.
In her new role as president and CFO, Valiasek will take on additional responsibilities including expanded oversight of its operations, innovation and commercial and marketing activities, while retaining her existing leadership of the financial organization, among others, according to a news release. She will continue to report directly to CEO Craig Hurlbert, who will maintain his position.
“Kathy has been instrumental in driving operational efficiencies across our network of growing facilities, building trust with large commercial customers, and developing key financing relationships to advance our capacity expansion efforts,” Hurlbert said in the release. “Together, we look forward to leading our organization through our next phase of growth and toward our near-term goal of achieving positive adjusted EBITDA in early 2025.”
Valiasek previously served as CFO from January 2017 to June 2019 and as chief business officer from June 2019 to March 2021 for Amyris, a biotechnology and renewable chemical company. She also served as CEO of Lenox Group, a finance and strategic consulting firm she founded in 1994, the release said. Valiasek holds a bachelor’s degree in business administration from the University of Massachusetts at Amherst.
“Since Kathy joined our leadership team over three years ago, her contributions have been extensive, reaching far beyond that of her role as CFO,” Hurlbert said. “This appointment recognizes her expanded influence, responsibilities and unwavering commitment to scaling up our business.”
