How Ian Smith Turned Around Struggling Clearwater by Selling Premium Seafood to High-End Customers
SEAFOODNEWS.COM [Atlantic Business Magazine] - November 22, 2016
A mere eight years ago, this iconic seafood processor was struggling. Today, it's netting higher profits with lower costs. Here's how they did it.
When Ian Smith was named chief executive officer of Clearwater Seafoods, in May 2010, the seafood harvester, processor, and exporter was struggling.
The Halifax-based company was heavily indebted and still struggling to repair its finances following a go-private effort that failed during the 2008 global financial crisis. Clearwater’s stock price was also way down — in the 80-cent range — and, despite being structured as an income trust, the company had stopped...
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