Village Farms Announces Succession Plan for Chief Financial Officer

Stephen Ruffini to transition from CFO role after 17 years, will lead M&A efforts

Apr. 3, 2026 at 11:15am

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A minimalist studio still life photograph featuring a stack of financial reports, a calculator, and a pen arranged elegantly on a clean white background, conveying the abstract concepts of corporate finance and strategic growth.The transition of Village Farms' CFO to lead M&A efforts signals the company's strategic focus on growth through both organic and acquisitive means.Lake Mary Today

Village Farms International, Inc. announced that it has begun a succession planning process for its Chief Financial Officer Stephen ('Steve') Ruffini. Mr. Ruffini will remain as CFO of the Company until a permanent replacement has been identified, and will then transition to a new leadership position focused on potential mergers and acquisitions.

Why it matters

The transition of Mr. Ruffini's responsibilities reflects Village Farms' commitment to growth, with a strategy focused on complementing continued organic growth investments with accretive acquisitive opportunities globally. As a highly-skilled and trusted advisor, Mr. Ruffini is well-positioned to lead the company's M&A efforts during this important period of expansion.

The details

Mr. Ruffini will remain an employee of the Company to help ensure a smooth transition of his prior responsibilities as CFO. Under his leadership, Village Farms has transformed from an income trust into one of the world's foremost leaders in cannabinoid-based consumer packaged goods, including uplisting to the NASDAQ, completing numerous financings, and executing strategic transactions.

  • Mr. Ruffini will remain as CFO until a permanent replacement is identified.
  • Mr. Ruffini has served as CFO of Village Farms for 17 years, since being hired in 2009.

The players

Stephen Ruffini

The outgoing Chief Financial Officer of Village Farms International, Inc. who has served in that role for 17 years and will now transition to a new leadership position focused on mergers and acquisitions.

Michael DeGiglio

The President and Chief Executive Officer of Village Farms International, Inc. who commented on the company's plans for Mr. Ruffini's transition.

Village Farms International, Inc.

A global leader in cannabis, plant-based consumer packaged goods, and sustainable innovation, operating one of the largest EU-GMP certified cannabis facilities in the world.

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What they’re saying

“We're proud to celebrate Steve's tremendous career as CFO of Village Farms, and thrilled to retain his talents to lead our efforts surrounding strategic M&A activities. As a highly-skilled and trusted advisor to our leadership team and Board, he's the perfect candidate to lead this function during such an important time for the Company, and we're excited to continue working together for the foreseeable future.”

— Michael DeGiglio, President and Chief Executive Officer

“After nearly two decades with Village Farms, I'm honored to be transitioning away from the CFO role with the Company in the strongest financial position of its history. The Company has a bright future, which I look forward to contributing to through my new role and responsibilities. It's an exciting period of growth for the Company, and this new role is a great fit for my capabilities.”

— Stephen Ruffini, Outgoing Chief Financial Officer

What’s next

Village Farms will commence a formal search process to identify a permanent replacement for the CFO role.

The takeaway

This transition reflects Village Farms' strategic focus on growth, both through organic investments and targeted acquisitions, as the company looks to build on its position as a global leader in cannabis and plant-based consumer goods. The move to have the outgoing CFO lead M&A efforts underscores the company's confidence in his expertise and ability to identify and execute on value-creating opportunities.