California-based multinational Limoneira (NASDAQ: LMNR) says it will name Mark Palamountain as its new chief financial officer, treasurer and corporate secretary, effective Jan. 8 next year. 

Mark Palamountain

Palamountain will replace Limoneira’s CFO, Joe Rumley, who announced his decision to pursue other opportunities on Sept. 26 after serving in this role since 2010.

Palamountain most recently served as Limoneira’s senior director of agriculture operations and has been with the company since 2012.

Limoneira says he has been "instrumental in building and managing a deep pipeline of acquisition activities", in addition to creating and implementing Limoneira’s “Net Zero” renewable energy portfolio expansion and managing capital growth strategies.

Prior to joining Limoneira, Palamountain was CEO and founder of Perpetual Power LLC, a leading solar integration company specializing in finance and product technology. From 2003 to 2008, he served as a managing director, head of NASDAQ trading for Broadpoint Securities where he was responsible for all trading desk management functions for a team of 25 traders.

“We are excited about Mark’s transition to the role of Chief Financial Officer and would like to thank Joe for his work in establishing a strong financial reporting infrastructure at Limoneira,” Limoneira president and CEO Harold Edwards said.

“Mark has been a valued member of our leadership team in his nearly six years with the Company, leading our business development efforts and renewable energy initiatives, as well as managing our agriculture operations.

"Combined with his background in capital markets, he will be well suited to execute the Company’s capital allocation framework and ensure we are maximizing value for shareholders.”

Palamountain said: “I look forward to leveraging my capital markets and operational experience to continue building upon Limoneira’s strong heritage in the citrus industry. 

"Over the past number of years our team has put the elements in place to significantly grow our agribusiness operations in the coming years following a series of investments in new orchards and infrastructure. I look forward to the opportunities that are ahead for Limoneira and our long-term shareholders.”

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