NEW YORK--(BUSINESS WIRE)--International Dispensing Corporation (IDC) (IDND) announced today that Ric Alvarez, Ph.D. has become the newest member of its Board of Directors. A highly accomplished, results-oriented executive with over 30 years experience in the food and beverage industry, Dr. Alvarez has a successful record of domestic and international experience leading publicly traded, family, and private equity companies to significant sales and EBIDTA growth. His experience covers both branded and private label food products in all distribution channels. He has held President & CEO positions at Overhill Farms, Spartan Foods, Frozen Specialties, Juanita’s Foods, and Country Pure Foods, among others, in each case having a powerful impact on improving processes, revenues, and the bottom line.
Dr. Alvarez (who in addition to his rich executive experience has a Ph.D. in Food Science and Human Nutrition) joins CEO Tom Shaver, Chairman Greg Abbott, and long-time IDC investor George Kriste on IDC’s Board of Directors. In addition, he will actively participate with the members of IDC’s Industry Advisory Board, comprised of Bill Hickey (former CEO of Sealed Air Corp), Markus Brettschneider (CEO of FrieslandCampina Germany and former CEO of SIG Combibloc North & Central America), Li Xin (former President of Sealed Air China), and Dr. Aaron Brody (member of the Packaging Hall of Fame).
“The more I looked into IDC the more the opportunity excited me,” said Dr. Alvarez. “In overcoming the daunting R&D and validation challenges inherent in any aseptic packaging innovation, the company has accomplished and created something very special: a disruptive innovation with no competition and extreme barriers to entry, one that addresses food safety and non-refrigerated distribution needs in the developing world. IDC’s current customer roadmap, strategic partners, and executive team are impressive. I look forward to helping IDC drive The Answer® to become a mainstream packaging format in the near term.”
“We are blessed to have an executive of Dr. Alvarez’s stature and caliber joining our Board of Directors,” said IDC’s CEO Tom Shaver. “In addition to assisting the company with sales and marketing efforts, Ric’s executive background combined with his high-level food safety and microbiology qualifications are ideal for IDC.”
Dr. Alvarez received a B.S. in Microbiology from the University of South Florida and a Ph.D. in Food Science and Human Nutrition from the University of Florida. Among his current and past Board of Directors positions are at Border Foods, Bush Brothers, Clear Springs Foods, Clement Pappas, Foodmarketplace Inc., Food Marketing Institute (private brands group), American Frozen Foods Institute, and National Frozen Pizza Institute.
About International Dispensing Corporation
IDC is a packaging research and development company that specializes and manufactures game-changing innovations for the food and beverage industry. To learn more, visit: www.idcinnovation.com.