SOUTH SAN FRANCISCO, CALIF. — Apu Mody, former president of Mars Food America, has been named chief executive officer of TerraVia Holdings, Inc., a next generation food, nutrition and specialty ingredients company and pioneer in algae innovation, effective Aug. 22. He will succeed Jonathan Wolfson, who will assume the role of executive chairman on Aug. 22.
“TerraVia is lucky, and I am personally thrilled to have Apu lead our next phase of growth and to establish TerraVia as a leader in plant-based food and nutrition based on our groundbreaking algae ingredients,” said Mr. Wolfson, who co-founded the company. “His experience at both Fortune 50 companies and in early stage ventures, including leading strong growth at both Mars and Del Monte, make him the ideal choice to accelerate commercialization and growth of the movement around algae-based foods.”
Mr. Mody most recently was president of Mars Food America, where he was responsible for a turnaround of the business covering the United States, Canada, Brazil and the Middle East. While at Mars, he served on the executive committee and board of directors of the Grocery Manufacturers Association. Prior to Mars, Mr. Mody spent six years at Del Monte Foods in various strategy and general management roles, ultimately joining the executive team as the senior vice-president and general manager for the Consumer Products Division. Earlier, he was with Procter and Gamble
“I’ve been passionate about healthy living and have seen many substantial changes across the industry,” Mr. Mody said. “In my 25-plus years in the food and C.P.G. industry, nothing I have seen comes close to the exciting potential of TerraVia. I believe there are opportunities across the grocery store driven by accelerating demand for plant-based foods and nutrition.”
TerraVia’s product lineup includes AlgaVia Protein-Rich Whole Algae, AlgaVia Lipid-Rich Whole Algae, and AlgaWise Ultra Omega-9, and Thrive Culinary Algae Oil. In addition, TerraVia produces AlgaPrime DHA, for the aquaculture and animal nutrition markets, and AlgaPur oils, including a more sustainable alternative to palm oil for the specialty personal care market.Separately, TerraVia on Aug. 8 issued financial results for the second quarter ended June 30. The company sustained a loss of $27,438,000 in the quarter, which compared with a loss of $37,171,000 in the same period a year ago. Total revenues totaled $9,947,000, down from $11,740,000.