Alto Ingredients (ALTO) has issued an update.
Alto Ingredients, Inc. announced the resignation of Michael D. Kandris as Interim COO, effective April 1, 2024, with his employment continuing for a transition until his retirement on June 20, 2024. Todd E. Benton, with extensive experience in ethanol production and operations, has been appointed as the new COO as of April 1. Benton’s role comes with a $350,000 base salary and eligibility for the company’s short-term and long-term incentive plans. His employment agreement includes severance benefits under certain conditions, outlining the terms for termination with or without cause, and provisions for disability or death.
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