Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(c)
On March 2, 2022, Fresh Del Monte Inc. (the "Company") appointed Monica Vicente,
56, as the Company's Senior Vice President and Chief Financial Officer effective
April 1, 2022. In that role, Ms. Vicente will also serve as principal accounting
officer. Ms. Vicente has served as Vice President, Corporate Finance since 2003
and most recently led the Company's regional finance, global financial
planning & analysis, investor relations, and global procurement functions.
Ms. Vicente also led other finance functions in her 24-year tenure with the
Company, including SEC reporting & controlling, tax, and treasury. Prior to
joining the Company, Ms. Vicente spent 6 years at Ernst & Young in their
assurance services group.
In connection with her promotion to Senior Vice President and Chief Financial
Officer, the Compensation Committee has agreed to increase Ms. Vicente's base
salary to $485,000. Ms. Vicente will become eligible to participate in the
Senior Executive Annual Incentive Plan with a target opportunity of 50% of her
base salary, will receive, starting in 2023 concurrently with the award of
equity to each of the Company's other executive officers, time-based RSUs and
performance based RSUs, in each case with a value of 25% of her base salary and
a Long-Term Incentive Plan award set at 35% of her base salary.
There are no other arrangements or understandings between Ms. Vicente and any
other person pursuant to which Ms. Vicente was appointed as Chief Financial
Officer of the Company. There are also no family relationships between
Ms. Vicente and any director or executive officer of the Company, and
Ms. Vicente has no direct or indirect material interest in any transaction
required to be disclosed pursuant to Item 404(a) of Regulation S-K.
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