Sustainable agtech company Indigo Ag has named former Alibaba executive Pedro Langa to be its next chief financial officer as the company works to streamline operations after its valuation took a nosedive late last year.
Langa was CFO of Alibaba’s supermarkets division from 2017 to 2020, according to his LinkedIn, and he helped build up the China-based, e-commerce company’s high-tech grocery business Freshippo. Most recently, he was interim CFO for circular tech company Alchemy Global Solutions.
Pedro Langa brings over two decades of finance experience to Indigo built across a variety of industries including food and agriculture. His key accomplishments include securing substantial funding for rapid business growth, leading successful mergers and acquisitions, and driving financial transformations that enhanced profitability in global markets, according to a release.
“The appointment of Pedro Langa is another big step forward in Indigo’s development, path to profitability, and realization of the enormous potential of this company,” Indigo Ag CEO Dean Banks said in a statement. “He is a very experienced CFO with an outstanding record of accomplishment to help guide Indigo through our next phase of growth.”
Banks, former Tyson Foods President and CEO, became Indigo’s chief executive in May to help turnaround the company after reports surfaced that its valuation plummeted 94% in November 2023. In addition to revamping its leadership team, Indigo also announced it would split its business into two units.
