Juan A. Wiesner
Mission ProduceAbout Juan A. Wiesner
Juan A. Wiesner is Mission Produce’s President of Central and South America, age 70, serving in the role since 2018; he will retire effective November 1, 2025 after 14 years at the company. He holds a civil engineering degree from Universidad Nacional de Colombia, led Mission’s vertical integration in Peru, and expanded its international farming footprint into Guatemala, culminating in more than 6,500 plantable hectares across avocados, mangos, and blueberries. Company performance indicators tied to executive compensation show 2024 adjusted EBITDA achievement drove high bonus earnouts for eligible NEOs and multi-year PSUs (2023–2025, 2024–2026) were tracking between target and maximum as of October 31, 2024; AVO’s stock closed at $11.80 on October 31, 2024 and $11.74 on February 11, 2025.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Mission Produce, Inc. | President, Central & South America | 2018–2025 | Led vertical integration in Peru and expansion into Guatemala; scaled international farming operations to >6,500 plantable hectares across avocados, mangos, blueberries |
| Grupo Arato (Peru) | Executive | 2014–2018 | Avocado farming/services leadership in Peru |
| Camposol S.A. | Chief Executive Officer | 1998–2007 | CEO of one of South America’s largest agricultural companies |
Fixed Compensation
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Base Salary ($) | $435,000 | $435,000 (0% YoY) | $448,000 |
| Profit-Sharing (Peru labor regulation) ($) | — | $8,646 | — |
| Perquisites | Company car; health and supplemental disability premiums provided to senior executives | Company car; health and supplemental disability premiums provided to senior executives | Company car; health and supplemental disability premiums provided to senior executives |
Performance Compensation
Annual Cash Bonus
| Component | Metric | Target Opportunity | Actual FY 2024 Payout | Notes |
|---|---|---|---|---|
| Discretionary Bonus | CEO assessment of individual performance | Up to 25% of base salary | $108,750 (100% of bonus potential; 25% of $435,000 base) | Wiesner does not participate in the annual cash incentive plan; FY24 payout recognized navigation of supply-constrained Peru farms and cost optimization execution |
Long-Term Incentives (RSUs/PSUs)
| Award Year | RSU Value ($) | PSU Value ($) | Allocation | Vesting | Performance Metric | Payout Curve |
|---|---|---|---|---|---|---|
| 2024 | $100,000 (50% of total) | $100,000 (50% of total) | 50% RSU / 50% PSU | RSUs vest ratably over 3 years; PSUs cliff vest at period end | 3-year cumulative adjusted net income per share (Nov 1, 2023–Oct 31, 2026 for 2024-2026 PSUs) | Threshold 70% → 50% of target; Target 100% → 100%; Max 130% → 200% |
| 2025 | $100,000 | $100,000 | 50% RSU / 50% PSU | RSUs vest ratably over 3 years; PSUs cliff vest (Nov 1, 2024–Oct 31, 2027) | 3-year cumulative adjusted net income per share | Threshold/Target/Max as above |
- As of Oct 31, 2024, 2023–2025 and 2024–2026 PSUs would perform between target and maximum based on cumulative adjusted net income per share; all outstanding options were underwater at $11.80 stock price.
- Equity grant dates follow a formulaic approach in early January each year, using a trailing 30-day average stock price to determine share counts.
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total Beneficial Ownership | 1,187,920 shares (1.67% of outstanding as of Feb 11, 2025; shares outstanding 71,071,752) |
| Stock Ownership Guidelines | Other Section 16 Officers / SVPs: 1x annual base salary; executives expected to meet within 5 years and maintain thereafter |
| Compliance Status (as of Oct 31, 2024) | All then NEOs exceeded required holdings except Pawlowski (joined in April 2024) |
| Counting Toward Guidelines | Direct/indirect common stock; unvested time-based RSUs count; PSUs do not until earned |
| Hedging/Pledging | Company prohibits short sales and hedging; pledging disclosed for CEO trusts, no pledging disclosures for Wiesner in available excerpts |
| Options Status | All outstanding options were underwater at $11.80 on Oct 31, 2024 |
Employment Terms
| Provision | Terms (Wiesner) |
|---|---|
| Executive Severance Plan | Not a participant |
| Termination without Cause / Good Reason (non-CIC) | Equity award value: $203,198; no cash severance or health benefits (assumes event at Oct 31, 2024; equity valued at $11.80 stock price) |
| Termination within CIC Period (double trigger) | Equity award value: $426,313; no cash severance or health benefits (assumes event at Oct 31, 2024; equity valued at $11.80 stock price) |
| Death/Disability | Equity award value: $154,352; option exercise period extended 1 year for death/disability under standard award agreements |
| Equity Treatment (PSUs) | Death/Disability: pro-rated at target; Non-CIC Qualifying Termination: pro-rated based on actual performance; CIC where awards not assumed: earned on greater of actual or target, without pro-rating, measured to most recent fiscal quarter-end |
| COBRA/Multiples | CEO agreement and Severance Plan provide COBRA and 1.0x–1.5x cash multiples for participating NEOs; not applicable to Wiesner (non-participant) |
Performance & Track Record
- Mission’s 2024 performance resulted in adjusted EBITDA achievement at 136% and a Company performance earnout of 172% of target for eligible NEOs; Wiesner’s discretionary bonus framework is distinct and capped at 25% of base salary.
- Programmatically, PSUs instituted in 2022 are performance-based; the 2022–2024 PSUs paid zero due to below-threshold performance, evidencing pay-for-performance discipline.
- Operationally, Wiesner launched and scaled Peru operations, expanded into Guatemala, and helped build an integrated farming platform across >6,500 plantable hectares.
- Stock indicators: AVO closed at $11.80 on Oct 31, 2024; PSUs tracked between target and maximum at that date, while options were underwater—reducing near-term option exercise/selling pressure.
Compensation Structure Analysis
- Mix shifts: LTI allocation increased toward PSUs (50% PSUs/50% RSUs in 2024 vs 40%/60% in 2023; 30%/70% in 2022), raising performance linkage and risk of zero payout when thresholds are missed.
- Equity grant values: Wiesner’s total LTI grant reduced materially from $500,000 to $200,000 in 2024, sustained at $200,000 in 2025, signaling tighter equity calibration post-2023 performance review.
- Guaranteed pay: Base salary was flat in 2024 ($435k) and modestly increased in 2025 ($448k), while his annual cash bonus remains discretionary and capped at 25% of base.
- No cash severance: Non-participation in the Executive Severance Plan reduces guaranteed termination cash exposure; equity-only benefits apply under standard award agreements.
Risk Indicators & Red Flags
- Hedging prohibited; disclosed pledging pertains to CEO trusts, with no pledging noted for Wiesner in available proxy excerpts.
- No tax gross-ups other than relocation; limited perquisites (company car, premiums), reducing shareholder-unfriendly optics.
- 2022–2024 PSUs paid zero due to performance miss, indicating award discipline rather than repricing or modification.
- Retirement announced for Nov 1, 2025; succession named (SVP International Farming), mitigating transition risk in farming operations.
Investment Implications
- Alignment: Meaningful ownership (1.67%) and compliance with stock ownership guidelines, plus a higher share of performance-tied PSUs, align incentives with multi-year profitability targets; underwater options limit forced near-term selling.
- Retention/transition: Retirement effective Nov 1, 2025 with named successor reduces retention risk but introduces execution risk in maintaining momentum in Peru/Guatemala farming operations; continuity is aided by internal promotion.
- Pay-for-performance: Discretionary bonus structure (25% cap) and lower LTI sizing post-2023 review temper guaranteed pay; PSU outcomes will be sensitive to sustained adjusted net income per share delivery.
- Trading signals: With equity grants vesting over multi-year horizons and options underwater, insider selling pressure from exercises appears limited; monitor 8-Ks and proxies for post-retirement equity treatment updates and any changes to award assumptions or PSU tracking.