Najib Maalouf is the new president and chief operating officer of Goodfood (FOOD-T), effective immediately and will work on “resetting” the meal-delivery firm’s operation and “streamlining” the faltering organization.

“Goodfood has built a strong platform delivering convenience, quality and value to customers across Canada, and I look forward to helping drive the company’s performance and growth while enhancing our operational capabilities and customer experience,” Maalouf said in a March 17 press release from the Montreal-based company.

The firm began operations in 2014 when Jonathan Ferrari and Neil Cuggy started Goodfood. It became much more prominent during COVID lockdowns, as consumers were looking for ways to cook food at home while grocery stores were limited in the numbers of persons who could shop at any time. 

The firm today employs more than 1,500 and delivers to more than 300,000 homes, it said on LinkedIn.

Once high-flying company tumbling

Goodfood was previously valued around $1 billion, as its value soared in 2021, according to the company. However, it has faced a severe downturn in business more recently and today its market cap sits around $23 million. 

On Dec. 30, its federal Safe Food for Canadians license was suspended by the Canadian Food Inspection Agency (CFIA) for concerns regarding preventive controls. It was reinstated on Jan. 8. 

Previously, Maalouf held senior positions in manufacturing and consumer businesses. He holds bachelor’s and master’s degrees in electrical engineering from the Georgia Institute of Technology in Atlanta, and a master of business administration degree from the University of Chicago Booth School of Business.

“Najib brings a proven track record of operational leadership and deep experience. Most recently, he led a billion-dollar global manufacturing business in the high-end residential appliance sector, overseeing a portfolio of premium brands and complex international operations,” Selim Bassoul, Goodfood chief executive officer and chairman of the board said in the same press release.

Co-founders step down

The company last year announced its cofounders, Ferrari and Cuggy, were stepping down, and it subsequently brought on Bassoul in August.

In its Q1 results, the company said its net loss rose to $3 million in 2025, which was up from $2 million from the same period last year. Its net sales were also down, almost $28 million versus nearly $35 million in the same period.

“We are managing the business with a clear-eyed view of the market. The meal-solutions category, particularly meal kits, remains under pressure, and we are not assuming a near-term recovery,” Bassoul said in a statement.

The company also announced that chief financial officer Roslane Aouameur will depart the company effective April 22, after the release of its quarterly earnings. Vanessa Hadida, current vice-president of finance, will assume responsibility for finance. Aouameur will remain for the transition, according to a press release. 

Earlier in March, Goodfood also appointed Alberto Haddad and Omar Omran as independent members of its board.

Goodfood is also facing a possible class-action lawsuit over alleged non-disclosure of delivery fees, affecting all Quebec residents who paid the fees, according to Lambert Avocats. It has not yet been approved by the court, according to Lambert.

The company operates production facilities in Quebec and Alberta.