FRESH DEL MONTE PRODUCE INC 8-K

What Happened
Fresh Del Monte Produce Inc. announced in an 8-K filed January 7, 2026, that Mohammed Abbas (age 49) was promoted to President and Chief Operating Officer effective January 1, 2026. Mr. Abbas had served as Executive Vice President and Chief Operating Officer since February 2022 and previously held senior regional roles in Asia Pacific, the Middle East and North Africa.

Key Details

• Appointment effective: January 1, 2026; 8-K filed January 7, 2026.
• Compensation changes approved by the Compensation Committee: base salary increased from $850,000 to $1,000,000.
• Annual and long-term incentive changes: Senior Executive Annual Incentive target raised from 60% to 65% of base salary; Long-Term Incentive Plan cash target increased from 35% to 50% of base salary.
• Target equity award remains 100% of base salary.
• No other arrangements or understandings related to the appointment; no family relationships with company officers/directors and no reportable related-party transactions.

Why It Matters
This 8-K confirms a formal leadership promotion and related pay changes, signaling continuity in the company's executive team. For investors, the filing is material because it increases the company’s cash-based compensation commitments (higher salary and higher cash LTIP target) while keeping equity grants unchanged—factors that can affect short-term cash compensation expense and executive incentives. The disclosure also affirms there are no related-party issues tied to the appointment.