DAVIS, CALIF. — Arcadia Biosciences, Inc. has initiated a search for a new chief executive officer, a move that coincides with the company’s expansion into the consumer packaged goods sector. Matthew Plavan, who has been CEO since 2019, will step down from the role once a successor is named.

Mr. Plavan joined Arcadia in 2016 as chief financial officer and later was named president of Arcadia Specialty Genomics in February 2019.

“The progress we have made in a remarkably short period of time after planting the flag as a CPG company has been extraordinary, and it’s a testament to the talent and commitment of our team,” Mr. Plavan said. “"With a portfolio of plant-based, better-for-you food and wellness products now in place and under development, Arcadia is well-positioned to leverage its innovation-oriented heritage, elevate its brands and further penetrate the consumer health and wellness categories. Having reached this pivotal point, the timing makes sense to begin the process of transitioning to a new leader with deep experience running successful CPG organizations who will be able to build on the company’s momentum, accelerate speed-to-market and capitalize on the tremendous growth opportunities ahead.”

Kevin Comcowich, chairman of Arcadia, lauded Mr. Plavan’s leadership over the past three years.

“Matt has deftly led Arcadia through a critical transformational phase, as we transitioned our focus from developing to commercializing a portfolio of specialty wheat ingredients, while, at the same time, acquiring and integrating additional food and wellness brands,” Mr. Comcowich said. “His talent, energy and dedication — particularly in the face of a global pandemic — have paved the way for significant long-term growth and value creation.  We look forward to his ongoing support as we work toward this leadership transition and the passing of the baton to a CPG-industry veteran for Arcadia’s next chapter.”