date:Sep 03, 2013
Chiquita Brands International is reversing four quarters of cash depletion as the banana grower cuts costs, jettisons grape and avocado businesses, and boosts sales of packaged salads to shore up its balance sheet.
Chief Executive Officer Ed Lonergan, who took over in October, is reshaping the company as a high-volume, low-cost producer of bananas and packaged salads by abandoning product lines such as healthy snacks in Europe and winding down its smoothie joint venture with Danone SA. Lonergan