Innovative Food Holdings Announces Leadership Transition

BROADVIEW, Ill., Oct. 06, 2025 (GLOBE NEWSWIRE) -- Innovative Food Holdings, Inc. (OTCQB: IVFH), a specialty food platform (the “Company” or “IVFH”), today announced a leadership transition aligned with its three-phased strategy to restore financial health, build a scalable platform, and accelerate long-term growth.

The Board of Directors of the Company (the “Board”) has appointed Gary Schubert, current Chief Financial Officer, as Chief Executive Officer and Director on the Board. Mr. Schubert’s leadership will guide the Company through the next stages of its transformation, with a focus on growth, operational excellence, and shareholder value creation.

“I am honored to step into the CEO role at IVFH,” said Gary Schubert. “Looking ahead, we see continued opportunities to expand our specialty food platform by growing our item portfolio, increasing points of distribution, and leveraging technology and data to scale more efficiently. At the same time, we remain firmly anchored in operational excellence — integrating our owned warehouse assets with our drop-ship vendor network to deliver reliable, best-in-class service for our customers. By balancing growth with disciplined execution, we will build on the stabilization achieved in recent years, strengthen our foundation for scalable expansion, and position IVFH to accelerate into its next chapter of growth — driving sustainable profitability, long-term shareholder value, and our ambition to grow into a specialty food leader.”

As part of the transition, current Chief Executive Officer and Director, Bill Bennett, will step down from both roles, and move into a consulting role with the Company effective October 3, 2025, ensuring continuity and sharing his expertise during the transition. He will continue supporting the leadership team in this new role through March 31, 2026.

“It has been a privilege to serve as CEO of IVFH and work alongside such a dedicated and capable Board and team,” said Bill Bennett. “During my tenure, we stabilized the Company by streamlining operations, exiting non-core businesses, improving gross margins, restoring focus on the foodservice business, and achieving three straight years of positive adjusted EBITDA for the first time in over a decade. Having positioned IVFH for its next chapter, the Board and I both felt that this was the right time for me to transition to an advisory role. I am proud of what we accomplished together, and am excited to support Gary and the team as they carry the strategy forward. His expertise in finance, strategy, and operations, supported by his many years of experience at the world’s largest companies, position him to make a tremendous impact during this next chapter of the Company’s growth.”