U.S.-based avocado company Calavo Growers has announced that its president and CEO Lecil E. Cole is stepping down.

Cole on Oct. 24 advised Santa Paula, California-based Calavo of his intention to retire during the first quarter of calendar year 2020.

Calavo’s Board of Directors is in the process of interviewing and evaluating several qualified CEO candidates, a statement said.

"Cole’s retirement will become effective on the date that his successor as Chief Executive Officer begins service in that capacity, following selection and appointment by the Board of Directors," the company said.

"Mr. Cole also advised Calavo that he intends to continue to serve as Calavo’s Chairman of the Board of Directors, with a focus on maintaining and enhancing Calavo’s business relationships with its investors and suppliers of avocados and other products."

Calavo Growers was established in 1924 as an agricultural cooperative and was instrumental in launching the California avocado industry.