Village Farms International, Inc. announced on September 10, 2026, that Hamid Shekarchi has been appointed as the company's Interim Chief Financial Officer, effective immediately. Mr. Shekarchi succeeds Stephen Ruffini, who will continue to serve as the company secretary and begin serving as Head of Mergers and Acquisitions, as well as an advisor to the Chief Executive Officer. Mr. Ruffini’s transition is not the result of any disagreement with management or the board of directors.
Mr. Shekarchi, 41, previously served as the CFO of the company’s Canadian Cannabis operations since February 1, 2024. He joined the company’s Pure Sunfarms subsidiary in 2021. Prior to that, he held senior roles at BDO Canada and PwC, where he advised numerous private and publicly traded companies. He also co-led BDO’s Western Canada Cannabis practice.
The company entered into an employment agreement with Mr. Shekarchi, detailing his compensation as Interim CFO. His annual base salary is set at C$567,000. He is also eligible for a target annual bonus of 50% of his base salary, a one-time stock option grant of 100,000 shares, and a one-time long-term incentive award of 20% of his annual base salary in Restricted Stock Units (RSUs). For the 2027 fiscal year, his long-term incentive award will be based on a target opportunity of up to 20% of base salary.
The employment agreement includes a termination clause. If Mr. Shekarchi is terminated without cause, the company will provide a 12-month notice period, either as a lump sum or continued employment. He is also subject to restrictive covenants, including non-compete and non-solicitation agreements for six and 12 months, respectively.
