PARIS — Insect ingredient producer Ÿnsect announced the expansion of its board of directors on July 6 to support its growth plans. The company also shared that it has appointed a new chief executive officer.

Ÿnsect’s Co-Founder Antoine Hubert previously served as the company’s chief executive officer and will now assume the roles of executive vice president and CŸO, focusing on innovation, science and impact at the company. He will also help strengthen Ÿnsect’s leadership within the insect industry by refocusing efforts on company strategy, influence and IP. Hubert will serve as a representative and spokesperson for Ÿnsect and will support the new CEO Shankar Krishnamoorthy.

“In 12 years, together with our shareholders and our teams, we have risen to immense challenges to make Ÿnsect a leading company in the production of insect proteins for food, pets and plants,” Hubert said. “Today, and while our flagship site in Amiens is achieving a major milestone in its start-up phase, Ÿnsect has reached a point that requires us to adapt our organization. Therefore, I am handing over the operational reins of the company to Shankar, a seasoned professional that I fully trust and who has demonstrated his great qualities within Ÿnsect over the past two years, thus ensuring the best possible continuity for our teams and our stakeholders.”

Krishnamoorthy is a former member of Engie's executive committee and joined Ÿnsect in 2021, leading the company’s international expansion and construction of its facility in Amiens, France.

“I am honored by the trust the board has placed in me and am thrilled to lead Ÿnsect into its next stage of growth,” Krishnamoorthy said. “I wish to thank Antoine for his dedication and commend his vision in launching Ÿnsect and in leading the company through its formative years. I look forward to working with all Ÿnsectors to tackle our challenges collectively and to relentlessly work to accomplish our mission.”

Following the closing of the first part of its Series D funding round, Ÿnsect has also expanded its board of directors to include Eugenio Minvielle, Jean-Christophe Quémard, Hans Wackwitz, Jean-Paul Lemonnier, Eric Archambeau, Gilles Schang, and François-Xavier de Thieulloy.

Minvielle is the president and founder of INNIT International. He has more than 30 years of experience in the consumer goods industries within Europe, North and South America, and Asia. Minvielle previously served as president and CEO of Unilever North America, Nestlé France, Nestlé Mexico, Nestlé Venezuela, and COO of Sara-Lee’s DEMB.

Quémard has 36 years of experience in the automotive industry. During his career, he has worked at PSA/Stellantis and EXCOM, holding various positions throughout the value chain.

Wackwitz is the founder of Partners in Equity. He has 13 years of experience working for Bankers Trust Company, Paribas Capital Markets and Cobepa/PAI. Wackwitz founded Partners in Equity in 2003, focusing on investments in agri-tech, healthcare and education.

Lemonnier currently serves as chief executive officer and head of growth investments at Peugeot Invest UK, a long-term investment firm. During his career, Lemonnier has worked at PAI and Goldman Sachs.

Archambeau is co-founder and partner at Astanor Ventures, a global-impact investor in the agri-food space. He has founded several venture capital firms and supported various impact-driven companies during his career. Archambeau also served as global chairman of the Jamie Oliver Food Foundation and founded the Social Entrepreneurship Department at INSEAD.

Schang currently serves as deputy managing director of Bpifrance’s Ecotechnologies. Schang has served as a technology venture capitalist for more than 20 years. He has been a partner at Société Asset Management and BpiFrance since 2012. He also serves as a director at Axeleo, Ayro, Fermentalg, Vulog, Stanley Robotics, EasyMile, Sabella, Naïo Technologies and Tallano Technologies.

de Thieulloy is the director of expertise at Bpifrance. He has 15 years of experience in consulting and startups. de Thieulloy joined Bpifrance in 2019, serving as an industry of the future expert before focusing on support expertise.

“Ÿnsect is on the cusp of transitioning from a late-stage startup to a commercially viable company scaling up to meet its strategic objectives,” Wackwitz said. “At this important juncture of the company’s transition, the board of directors is pleased to appoint Shankar Krishnamoorthy as the CEO of Ynsect. Shankar has a proven track record as a CEO leading sustained, profitable growth in the competitive and challenging energy sector, has led culturally diverse teams across business development, technology and plant operations, finance and human resources, and prior to Ÿnsect, was on the executive committee of ENGIE, a CAC 40 company.

“Shankar will take over from Antoine Hubert, who will continue at Ÿnsect lending his vision, abundant passion, expertise and experience to focus on advancing and advocating for Ÿnsect’s science, impact and influence,” he added. “The board counts on Antoine to be the face of Ÿnsect and continuing to represent its strong values.”

Read more about personnel changes throughout the industry.