Before joining Verde, Sabbag served 14 years as head of sales with Fertilizantes Heringer SA, one of Brazil’s three largest fertilizer companies.
At Herringer, Sabbag oversaw annual revenue of US$250 million as well as a support staff of more than 30 professionals and a network of 110 independent sales agents. Sabbag during his tenure opened seven new fertilizer plants and the introduced new product lines.
READ: Verde Agritech has cash flow, huge expansion plans, and a high quality product that is being lapped up by Brazilian farmers
Overall, Sabbag has some 30 years of sales experience in the agriculture sector, having for worked for major players such as Monsanto, Bequisa-Degesh and Cargill.
“We are proud that Mr. Sabbag has chosen to continue his career at Verde, given his many options in the Brazilian fertilizer sector,” said Verde President and CEO Cristiano Veloso. “He will oversee continued sales success in 2019 and, above all, position the company for planned market expansions in 2020 and beyond.”
Verde promotes sustainable agriculture through the development of its Cerrado Verde project, which is the source of a potassium-rich deposit.
Shares of Verde last traded at C$0.70 in Toronto, unchanged from Wednesday’s close, and were flat at US$0.52 in the US on the OTC Markets.
-- Patrick Graham contributed to this report --