Marrone Bio Innovations Announces Plans for CFO Succession
September 22 2020 - 8:31AM
Marrone Bio Innovations, Inc. (NASDAQ: MBII) (“Marrone Bio”), an
international leader in providing growers with sustainable
bioprotection and plant health solutions to support global
agricultural needs, announced today that company President
and Chief Financial Officer James
Boyd will retire from his positions.
A national search process for the new Chief
Financial Officer is underway, and Mr. Boyd will
continue as President and CFO during the search process.
“Jim has been a key member of the
senior management team and a highly-regarded leader for
the company over the last seven years” said Chief
Executive Officer Kevin Helash. “He has helped guide
the company through its successful transition as a
market leader in the agricultural biologicals space. On behalf of
myself, the board of directors and the entire team at
Marrone Bio Innovations, we want to thank Jim for his numerous
contributions to the strength of the company and wish him
the very best in his retirement.”
“The search for a new CFO is underway, and
we are looking for an exceptional individual to help lead the
company during its
next phase of accelerated growth while
ensuring we are brilliant at the basics that drive operational and
financial excellence,” added Helash. “We have a
solid financial team in place and expect the new CFO to be able to
make a rapid transition and add immediate value.”
“I am proud to have helped build the company
into a world-class organization with an unmatched product
portfolio in sustainable biological products. Given
our recent revenue growth and margin expansion, I am
confident the company is poised to
deliver meaningful shareholder value. I look forward to
working with our finance team as we make this transition and ensure
the company’s continuing success,” said Boyd.
About Marrone
Bio InnovationsMarrone Bio Innovations Inc.
(NASDAQ: MBII) is a growth-oriented company leading the movement to
a more sustainable world through the discovery, development and
sale of innovative biological products for crop protection, plant
health and waterway systems treatment that help customers operate
more sustainably while increasing their return on investment. MBI
has screened over 18,000 microorganisms and 350 plant extracts,
leveraging its in-depth knowledge of plant and soil microbiomes
enhanced by advanced molecular technologies and natural product
chemistry to rapidly develop seven product lines. Supported by a
robust portfolio of over 400 issued and pending patents, MBI’s
currently available commercial products are Regalia®, Stargus®,
Grandevo®, Venerate®, Majestene®, Haven®, Pacesetter™, Zelto® Jet
Oxide® and Jet Ag® and Zequanox®, with a next-generation
insecticide-nematicide, a breakthrough bioherbicide and a
biofumigant in the Company’s product pipeline. MBI’s Pro Farm
Finland-based subsidiary employs a proprietary technology derived
from wood waste to stimulate plant growth and improve plant health,
resulting in improved yields and crop quality. Products include
UBP™ 110, Foramin®, UBP™ Seed Treatment, Foramin® ST.Learn more
about Marrone Bio Innovations at www.marronebio.com. We also use
our investor relations website, https://investors.marronebio.com,
as well as our corporate Twitter account, @Marronebio, as means of
disclosing material non-public information, and encourage our
investors and others to monitor and review the information we make
public in these locations. Follow us on social media: Twitter,
LinkedIn and Instagram.
Marrone Bio Innovations
Forward Looking StatementsThis press release contains
forward-looking statements that involve substantial risks and
uncertainties. All statements, other than statements of historical
facts, included in this press release regarding strategy, future
operations and plans, including assumptions underlying such
statements, are forward-looking statements, and should not be
relied upon as representing MBI’s views as of any subsequent
date. Examples of such statements include statements regarding
the search process for a new CFO and the timing of Mr. Boyd’s
retirement . Such forward-looking statements are based on
information available to the Company as of the date of this release
and involve a number of risks and uncertainties, some beyond the
Company’s control, that could cause actual results to differ
materially from those anticipated by these forward-looking
statements, including the recent uncertainty in the global economy
and industry-specific economy caused by the COVID-19 pandemic,
consumer, regulatory and other factors affecting demand for the
Company’s products, weather, regulatory and other factors affecting
demand for the MBI’s products, any difficulty in marketing MBI’s
products in its target markets, competition in the market for pest
management products, lack of understanding of bio-based pest
management products by customers and growers, and adverse decisions
by regulatory agencies and other relevant third parties. Additional
information that could lead to material changes in MBI’s
performance is contained in its filings with the SEC. MBI is under
no obligation to, and expressly disclaims any responsibility to,
update or alter forward-looking statements contained in this
release, whether as a result of current information, future events
or otherwise.
Company Contact:Kevin Helash,
Chief Executive OfficerPhone: 530-750-2800info@marronebio.com
Investor Relations Contact:Greg Falesnik or
Luke ZimmermanMZ Group – MZ North AmericaPhone:
949-385-6449MBII@mzgroup.us
Marrone Bio Innovations (NASDAQ:MBII)
Historical Stock Chart
From Mar 2024 to Apr 2024
Marrone Bio Innovations (NASDAQ:MBII)
Historical Stock Chart
From Apr 2023 to Apr 2024