Rick Parod, CEO and founder of AdeptAg, has announced his decision to retire from the company, effective Oct. 25, 2024.
“After retiring as CEO of Lindsay, a public company in the agricultural sector, my next passion was to create a platform of companies dedicated to serving the controlled environment agriculture (CEA) space. AdeptAg was formed in early 2022 with the financial support of LLR Partners. At that time, I agreed to take on the role of CEO for a period of two years, even though full-time employment was not originally in my plans," Parod said.
"As market conditions in the CEA industry shifted due to rising capital costs, I communicated to LLR in mid-2023 my willingness to extend my leadership to help guide AdeptAg through the market contraction. Now, after more than two and a half years, I feel it is the right time for new leadership to guide AdeptAg into its next phase of growth and innovation," Parod added.
Dave Stienes, partner at LLR Partners, will succeed Parod as CEO. Stienes has been a key figure at AdeptAg since its inception, supporting the company’s vision and strategy.
“I want to extend my deepest appreciation to the entire AdeptAg team for their commitment and unity in our mission to deliver exceptional products and services to the CEA industry," Parod said. "I also want to thank our supplier partners and customers for recognizing the value that AdeptAg brings to the market. It has been a privilege to work with such a talented group of individuals.”
