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Impossible Foods Names Insider Borecky As CFO Ahead Of Potential Listing

FILE PHOTO: Impossible Foods plant-based beef products are seen inside a refrigerator at the meat section of a chain supermarket in Hong Kong, China, October 20, 2020. REUTERS/Lam Yik

(Reuters) -Impossible Foods on Monday appointed insider David Borecky as its chief financial officer, ahead of a potential stock market listing that could value the Beyond Meat rival at about $10 billion.

Borecky, who had been serving as the interim finance chief, had earlier held positions at fintech giant Stripe and payments services company Square Inc. He had played a crucial role in Square’s initial public offering in 2015.

Reuters reported in April that Redwood City, California-based Impossible Foods was seeking to go public through an IPO or a merger with a special purpose acquisition company.

The company on Monday also announced the appointment of Leilani Gayles as its chief people officer. Gayles joins the company after a decade at baseball team the San Francisco Giants.

Founded in 2011, Impossible Foods is backed by high-profile names including Microsoft Corp co-founder Bill Gates, Google Ventures and UBS Group AG.

It has received nearly $1.5 billion in funding so far, thanks to the rising popularity of the plant-based meat industry due to environmental and ethical concerns among consumers.

(Reporting by Niket Nishant in Bengaluru; Editing by Aditya Soni)

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