Veteran Village Farms (VFF) CFO to shift from finance chief to M&A lead
Rhea-AI Filing Summary
Village Farms International, Inc. announced a CFO succession plan centered on longtime finance leader Stephen Ruffini. On March 30, 2026, Ruffini notified the company he will transition from his role as Chief Financial Officer as part of a planned leadership process once a new CFO is appointed.
Ruffini will remain CFO until his successor is in place and then move into a new executive position focused on mergers and acquisitions, helping execute the company’s growth strategy alongside ongoing organic investments. The company states his transition is not due to any dispute or disagreement over financial reporting, accounting, operations, policies, or practices.
The accompanying press release highlights Ruffini’s 17-year tenure since his hire as CFO in 2009, during which he helped transform Village Farms into a major cannabinoid-based consumer packaged goods operator, led its uplisting to Nasdaq, and supported multiple financings and strategic transactions. Village Farms also describes its broader cannabis, plant-based, and clean energy businesses, including more than 7 million square feet of greenhouse and indoor cultivation assets.
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Insights
Planned CFO transition with continuity and new M&A focus looks orderly and strategic.
The company outlines a structured succession plan in which longtime CFO Stephen Ruffini stays in place until a replacement is hired, then moves into a dedicated mergers and acquisitions role. This emphasizes continuity in financial leadership while reallocating his experience to deal-making.
The filing explicitly notes the transition is not due to disputes over financial reporting, accounting, or operations, which reduces concern about internal issues. Management commentary frames Village Farms as in its strongest financial position and pursuing accretive acquisition opportunities, though no specific targets or amounts are disclosed.
For investors, this is a governance and strategy update rather than a financial results event. The ultimate impact will depend on the quality of the new CFO hire and how effectively Ruffini’s M&A role supports the company’s global cannabis, consumer packaged goods, and clean energy ambitions over time.
8-K Event Classification
Key Figures
Key Terms
succession planning process financial
mergers and acquisitions financial
forward-looking statements regulatory
EU-GMP certified technical
Controlled Environment Agriculture technical
accretive acquisitive opportunities financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What CFO change did Village Farms (VFF) announce in this 8-K?
Will Stephen Ruffini remain with Village Farms (VFF) after leaving the CFO role?
How long has Stephen Ruffini served as CFO of Village Farms?
What growth strategy does Village Farms highlight alongside the CFO succession plan?
What businesses and assets does Village Farms International currently operate?
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 30, 2026, Stephen Ruffini, the Chief Financial Officer of Village Farms International, Inc. (the “Company”), notified the Company of his intent to transition away from the role of Chief Financial Officer as part of the Company’s succession planning process. The Company intends to immediately commence a search for a new Chief Financial Officer.
Mr. Ruffini is expected to continue in employment with the Company as Chief Financial Officer until a new Chief Financial Officer is appointed and thereafter he will ensure an orderly transition with his successor prior to moving into a new executive position focusing on mergers & acquisitions.
Mr. Ruffini’s transition is not the result of any dispute or disagreement with the Company, including with respect to any matters relating to the Company’s financial disclosures, accounting matters, operations, polices, or practices.
Item 7.01 Regulation FD Disclosure.
On April 3, 2026, the Company issued a press release announcing the succession plan for the Chief Financial Officer. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
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99.1 |
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Press Release dated April 3, 2026 |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Village Farms International, Inc. |
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April 3, 2026 |
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/s/ Stephen C. Ruffini |
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Name: Stephen C. Ruffini |
Exhibit 99.1
Village Farms Announces Succession Plan for Chief Financial Officer
Stephen Ruffini will transition from CFO after 17 years of service to assume responsibility for M&A activities
Mr. Ruffini will remain CFO until a permanent replacement is identified; Company will commence formal search process
LAKE MARY, Florida and VANCOUVER, British Columbia, April 3, 2026 – Village Farms International, Inc. (“Village Farms” or the “Company”) (NASDAQ: VFF) today announced that it has begun a succession planning process for its Chief Financial Officer Stephen (“Steve”) Ruffini. Mr. Ruffini will remain as CFO of the Company until a permanent replacement has been identified.
Mr. Ruffini will remain an employee of the Company, not only to help ensure a smooth transition of his prior responsibilities, but also because he is expected to be appointed to a new leadership position focused on potential mergers and acquisitions. The transition of Mr. Ruffini’s responsibilities reflects the Company’s commitment to growth, with a strategy focused on complementing continued organic growth investments with accretive acquisitive opportunities globally.
President and Chief Executive Officer Michael DeGiglio commented, “We’re proud to celebrate Steve’s tremendous career as CFO of Village Farms, and thrilled to retain his talents to lead our efforts surrounding strategic M&A activities. As a highly-skilled and trusted advisor to our leadership team and Board, he’s the perfect candidate to lead this function during such an important time for the Company, and we’re excited to continue working together for the foreseeable future.”
Mr. Ruffini commented, “After nearly two decades with Village Farms, I’m honored to be transitioning away from the CFO role with the Company in the strongest financial position of its history. The Company has a bright future, which I look forward to contributing to through my new role and responsibilities. It’s an exciting period of growth for the Company, and this new role is a great fit for my capabilities.”
Initially hired as CFO of Village Farms in 2009, Steve’s 17-year tenure with the Company was instrumental in transforming what was previously an income trust into one of the world’s foremost leaders in cannabinoid-based consumer packaged goods. Under Steve’s leadership, the Company uplisted to the NASDAQ stock exchange, completed numerous debt and equity financings which enabled expansion into the cannabis industry, and executed several strategic transactions which have delivered meaningful value for shareholders.
About Village Farms International, Inc.
Village Farms is a global leader in cannabis, plant-based consumer packaged goods, and sustainable innovation. With a legacy built on decades of Controlled Environment Agriculture expertise and Dutch farming practices, today the Company is one of the world’s largest and most profitable cannabis operators with an asset portfolio that spans over 7 million square feet of advanced greenhouse and indoor cultivation assets.
In Canada, Village Farms operates one of the largest EU-GMP certified cannabis facilities in the world from its production campus in Delta, British Columbia, and exports products to international medical markets. The Company is also a market share leader in dried flower formats and produces and distributes some of the country’s highest quality and best-selling strains, including its flagship Pure Sunfarms Pink Kush, one of the most widely consumed strains on the planet. Village Farms’ Canadian brand portfolio includes Pure Sunfarms, Fraser Valley Weed Co., Soar, Super Toast, Pure Laine, Tam Tams and Promenade.
In the Netherlands, the Company is one of only ten licensed operators in the country’s regulated cannabis program, and in the United States its CBDistillery brand is one of the country’s largest independent hemp-derived wellness platforms. Beyond cannabis, the Company’s Clean Energy division transforms landfill gas into renewable natural gas, and it also holds an equity interest in Vanguard Food LP, a private venture pursuing strategic acquisitions to build a premier branded food platform in North America.
Contact Information
Sam Gibbons Senior Vice President, Corporate Affairs Phone: (407) 936-1190 ext. 328 Email: sgibbons@villagefarms.com |
Cautionary Statement Regarding Forward-Looking Information
As used in this Press Release, the terms “Village Farms”, “Village Farms International”, the “Company”, “we”, “us”, “our” and similar references refer to Village Farms International, Inc. and our consolidated subsidiaries. This Press Release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the U.S. Securities Act of 1933, as amended, (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and is subject to the safe harbor created by those sections. This Press Release also contains "forward-looking information" within the meaning of applicable Canadian securities laws. We refer to such forward-looking statements and forward-looking information collectively as "forward-looking statements". Forward-looking statements may relate to the Company's future outlook or financial position and anticipated events or results and may include statements regarding the succession plan for the Chief Financial Officer, as well as the financial position, business strategy, budgets, expansion plans, litigation, projected production, projected costs, capital expenditures, financial results, tariffs, taxes, plans and objectives of or involving the Company. Particularly, statements regarding future results, performance, achievements, prospects or opportunities for the Company, the greenhouse vegetable or produce industry, the cannabis industry and market and our energy segment, are forward-looking statements. In some cases, forward-looking information can be identified by such terms as "can", "outlook", "may", "might", "will", "could", "should", "would", "occur", "expect", "plan", "anticipate", "believe", "intend", "try", "estimate", "predict", "potential", "continue", "likely", "schedule", "objectives", or the negative or grammatical variation thereof or other similar expressions concerning matters that are not historical facts.
The Company has based these forward-looking statements on factors and assumptions about future events and financial trends that it believes may affect its financial condition, results of operations, business strategy and financial needs. Although the forward-looking statements contained in this Press Release are based upon assumptions that management believes are reasonable based on information currently available to management, there can be no assurance that actual results will be consistent with these forward-looking statements. Forward-looking statements necessarily involve known and unknown risks and uncertainties, many of which are beyond the Company's control, which may cause the Company's or the industry's actual results, performance, achievements, prospects and opportunities in future periods to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, the factors contained in the Company's filings with securities regulators, including this Press Release and the Company’s most recently filed Annual Report on Form 10-K, which is available at www.sec.gov.
When relying on forward-looking statements to make decisions, the Company cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future results, performance, achievements, prospects and opportunities. The forward-looking statements made in this Press Release relate only to events or information as of the date on which the statements are made in this Press Release. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.