Frugl (ASX:FGL) appoint Kenny Woo as Executive Managing Director
August 1, 2023Well-funded and on the expansion path, Frugl is elevating current Non-Executive Director Kenny Woo to Executive Managing Director to concentrate his technological skills on enhancing the fundamental capabilities of the company’s retail intelligence platform.
An experienced start-up tech entrepreneur with a proven track record, Mr Woo has founded and served as Managing Director of multiple food tech companies and is currently a Director of a Farm Square, an indoor farming business innovating the sector with zero-mile pesticides and chemical free organic vegetables.
Frugl is confident the approach will yield faster-achieved research and development objectives and in turn, more efficiently deliver innovations to a fast-emerging market.
“We are delighted to have secured the services of Mr Woo in this executive role at an important time for the Company which will further support the Company’s expansion program,” Frugl Chairman Kit Weng Yip said.
Food tech market
Frugl aim to deliver innovations into a food tech market expected to see significant growth and reach a value of $US342.52 billion by 2027, with changing customer preferences and increased demand for convenience and efficiency accelerated by the impact of COVID-19.
Restrictions and lockdown measures during the pandemic led to increased reliance on delivery services and online grocery shopping which has not gone away, and soaring grocery costs have drawn more attention to the availability of price comparison technology.
And with a large population experiencing rapid digital penetration and surging investment in food tech startups across the continent, Frugl has focused its plans on growth into Asia, and signed a deal for development of its Integrated Retail Grocery Marketplace with a prominent retailer in the United Arab Emirates.
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