Del Monte Appoints New Independent Director

CORAL GABLES, Fla. (AP) — Fresh Del Monte Produce Inc. said Thursday it has appointed Madeleine L. Champion as an independent director.

Champion will replace Maher Abu-Ghazaleh, who resigned after 12 years. Abu-Ghazaleh's brothers Mohammed and Amir still work as directors.

Champion, an international management and trade consultant, worked as a managing director and senior vice president at JPMorgan Chase & Co. from 2004 to 2008.

Del Monte, a seller of prepared and fresh fruits and vegetables, said Tuesday its first-quarter net profit fell 45 percent to $34.9 million, or 55 cents per share, from $63.6 million, or $1 per share, a year earlier.

Del Monte shares dropped 36 cents, or 2.4 percent, to close at $14.52 on Thursday.