East Coast Seafood starts search for new CEO

Published on
June 9, 2016

Massachusetts-based East Coast Seafood, one of the world’s largest distributors of of live and frozen American lobster, and also a seller of scallops and fin-fish, has commenced a search for a new chief executive officer.

Current CEO Michael Tourkistas said he will step down from his position once the new CEO is hired, he said in a press release, though he plans to remain with the company and continue to serve on its executive board.

“I am pleased to announce that we have initiated a search for a new CEO, who will bring supplemental experience and leadership to the organization as we move into the next step of our growth plans,” Tourkistas said. “My eventual stepping aside as CEO is something I have considered for a long time and it was I who initially suggested this strategic move.”

Forum Capital, East Coast Seafood’s primary investor, has been working with East Coast Seafood and its affiliates Seatrade International, Garbo Lobster, Paturel International and Worldwide Perishables to expand disbribution channels to include retail and wholesale value-added products and improve logistics in order to drive growth.

“An enhanced value proposition starts from the top and I believe we will find a dynamic and experienced leader for the next phase in our growth and development,” Tourkistas said. “We are placing our existing business under a microscope and taking an objective look at opportunities to become stronger suppliers and better partners. We’ve had an excellent first 35 years in business and we are incredibly grateful. With Forum Capital’s support, we feel the future is unlimited.”

East Coast Seafood also announced the creation of the position of vice president of sales and marketing and the hiring of Kelly Hill, formerly of Darden Restaurants, to fill that role. The creation of other management roles in order to ensure the company meets financial and growth targets is a possibility, the company said in its release.

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