Local Bounti announced a leadership transition and a business update. Craig Hurlbert, the company’s Co-Founder and Chairman of the Board, is reprising the role of CEO, effective immediately. Hurlbert previously served as Local Bounti’s co-CEO from November 2021 to June 2023 and as Senior Vice President of Strategy from June 2023 to December 2023. Hurlbert succeeds Anna Fabrega, who is leaving the company as part of a broader restructuring to optimize the company’s organizational structure. The company expects to save approximately $3.2M on an annualized basis as a result of these actions.
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