HF Foods Group Announces New Board Member Amid Resignations and Compensation Changes

HF Foods Group has appointed new board member Dennis Lam, a certified public accountant, effective June 4, 2025. Lam will serve as Chair of the Audit Committee and member of the Compensation and Nominating and Governance Committees. The company also approved increases in cash and equity compensation for independent directors. The latest analyst rating on HFFG stock is a Buy with a $7.00 price target.

HF Foods Group Inc. (NASDAQ:HFFG) has taken significant steps to bolster its governance and compensation structures. The company announced the appointment of Dennis Lam as a new board member, effective June 4, 2025. Lam, a certified public accountant and owner of Lam Advisory, LLC, will serve as the Chair of the Audit Committee and a member of the Compensation and Nominating and Governance Committees [1].

The appointment of Dennis Lam comes at a crucial time as HF Foods Group is expected to return to profitability this year, according to InvestingPro analysis. Lam brings over 20 years of experience in audit and advisory services, including a tenure as an audit partner at BDO USA, P.C. His expertise spans various industries, including retail, consumer products, manufacturing, distribution, and foodservice [2].

In addition to the new board member, HF Foods Group has also approved increases in cash and equity compensation for independent directors. The changes, effective July 1, 2025, will see the annual cash retainer increase from $30,000 to $40,000 and the annual equity grant rise from a fair value of $30,000 to $40,000 [1].

The latest analyst rating on HF Foods Group stock is a Buy with a $7.00 price target, suggesting significant upside potential from current levels [3].

References:
[1] https://www.investing.com/news/sec-filings/hf-foods-group-announces-board-changes-and-director-compensation-update-93CH-4084120
[2] https://www.marketscreener.com/quote/stock/HF-FOODS-GROUP-INC-37770969/news/HF-Foods-Group-Inc-Announces-Board-and-Committee-Changes-50176025/
[3] https://www.investing.com/news/sec-filings/hf-foods-group-inc-announces-results-of-annual-stockholders-meeting-93CH-4085776