S&W Seed Co. (Nasdaq: SANW) has named Elizabeth “Betsy” Horton its CFO to replace Matthew Szot.
Szot resigned, a press release said. Horton’s appointment is effective Monday, Nov. 15; Horton will also be executive vice president.
Horton was most recently CFO for three years at Miller Milling Co., a flour miller in Minneapolis. It has five U.S. facilities and $500 million in annual revenue. Prior to Miller, Horton worked for 20 years with Cargill Inc., also in Minnesota, including in foreign markets.
Cargill is privately held and family-owned with about $120 billion in revenue. Its products include grain, vegetable oil, feed, livestock, ingredients and pet foods.
Szot was with S&W since March 2010. He’s been a board and audit committee member at several public companies, an accountant with KPMG, and worked in financial consulting and as CFO for a surf apparel and products company.
S&W develops proprietary seeds for forage and specialty crops including alfalfa, sorghum, pasture, wheat and sunflower seeds. It recently signed a deal to develop Stevia seeds.
It reported quarterly results last week. It’s been increasing revenue and whittling away at losses in its last couple quarters. S&W has about $80 million in annual revenue.
In addition to its Longmont base, S&W has two facilities in Texas, two in Idaho and one in Australia.
It traded recently at a $135 million market cap.
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