France-based insect protein company Ynsect is appointing Shankar Krishnamoorthy as its new CEO, replacing Antoine Hubert.
Hubert, who co-founded the company in 2011, will remain within Ynsect as executive vice-president, focusing on innovation, strategy, science, influence, and impact.
Krishnamoorthy joined Ynsect in 2021 to lead the group's international development and the construction of the company's site in Amiens, France.
Prior to Ynsect, he worked for energy company Engie, where his positions included head of business development in Asia and CEO of the Middle East and Africa divisions.
"Ynsect has reached a point that requires us to adapt our organization. Therefore, I am handing over the operational reins of the company to Shankar," Hubert said.
Ynsect is refocusing its business strategy away from animal feed following its latest capital increase, Hubert told Reuters in April.
The Robert Downey Jr.-backed company will pivot towards high-margin markets such as pet food after raising €160 million ($175.6 million) from investors.
The group will use the money from the raise to finance expansion of its flagship vertical insect farm in Amiens and for new projects.
