MENLO PARK, Calif., Sept. 3, 2014 (GLOBE NEWSWIRE) — Landec Corporation (Nasdaq:LNDC) announced today that its Chairman and CEO, Gary T. Steele, plans to retire on May 31, 2015 at the end of Landec’s fiscal year. Mr. Steele has agreed to remain on the Board of Directors as a director, but not as Chairman after his retirement.
Mr. Steele has served as Landec’s President and CEO since September 1991 and was named Chairman of the Board in January 1996. He spearheaded taking the Company public in 1996. Under his 23 years of leadership, Landec revenues have increased from $2.5 million in fiscal 1996 to $477 million in fiscal 2014 and are expected to exceed $500 million in fiscal 2015. The Company has been consistently profitable since 2003 and has recently been named one of the Fortune 100 fastest growing U.S. companies.