Americold Announces Leadership Updates

Marc Smernoff Departing as Chief Financial Officer, Effective January 12, 2024

Jay Wells Appointed Chief Financial Officer, Effective January 15, 2024

Realigns Leadership Team to Establish Further Performance Ownership Across Geographies

ATLANTA, GA., Jan. 03, 2024 (GLOBE NEWSWIRE) -- Americold Realty Trust, Inc. (NYSE: COLD) (the “Company”), a global leader in temperature-controlled logistics, real estate, and value-added services focused on the ownership, operation, acquisition, and development of temperature-controlled warehouses, today announced a series of leadership updates. As part of these changes, the Company and Marc J. Smernoff, Executive Vice President and Chief Financial Officer, have mutually agreed that Mr. Smernoff’s employment with the Company will terminate, effective January 12, 2024. Jay Wells has been appointed to succeed Mr. Smernoff as Executive Vice President and Chief Financial Officer, effective January 15, 2024.

“I would like to thank Marc for his considerable contributions to Americold’s evolution over the last nearly 20 years,” stated George Chappelle, Chief Executive Officer of Americold Realty Trust. “Marc played a key role in guiding us through our initial public offering, building a best-in-class finance organization and strengthening our financial structure to fuel our growth. On behalf of the Board and leadership team, I wish him all the best in his future endeavors.”

Mr. Wells is a veteran public company financial executive with more than 30 years of experience building and leading international teams, and considerable financial planning and transaction expertise. He joins Americold from Primo Water (NYSE: PRMW), a leading, publicly-traded water company focused on the US and Canada, where he served as Chief Financial Officer from 2012 to 2023. Prior to his time at Primo Water, he was the Chief Financial Officer of the Canada Division of Molson Coors Beverages. Earlier in his career, he spent 15 years as a partner at Deloitte, where he oversaw the development and implementation of complex tax strategies on behalf of his client base and developed significant expertise in cross-border financing.