AgroFresh Announces Leadership Changes
March 11 2016 - 6:08AM
Business Wire
The Board of Directors of AgroFresh Solutions, Inc. (“AgroFresh”
or the “Company”) (NASDAQ:AGFS,AGFSW), a global leader in produce
freshness solutions, announced today that Thomas Macphee, Chief
Executive Officer, has stepped down from his position, effective as
of March 10, 2016. In addition, Stan Howell will step down from his
position as President at the end of April 2016. The Board has
formed a search committee to evaluate candidates to serve as the
Company’s next leader, in which the chief executive officer and
president roles will be consolidated.
On an interim basis, the responsibilities of chief executive
officer and president will be assumed by an Office of the Chair,
which will be comprised of Nance Dicciani, Chair of the Board, and
Stephen Trevor, a Director of AgroFresh and the former CEO of
Boulevard, which acquired the AgroFresh business in July 2015. Ms.
Dicciani and Mr. Trevor will partner to lead the Company, with Ms.
Dicciani focusing on business operations and Mr. Trevor focusing on
financial matters and investor relations.
Ms. Dicciani said: “On behalf of the Board of Directors of
AgroFresh, we want to thank Tom Macphee and Stan Howell for their
dedication and contributions to AgroFresh as we launched as an
independent company and we wish them well as they pursue new
endeavors.
“The Board is committed to AgroFresh’s growth strategy, and
Steve and I will work closely with the AgroFresh management team to
ensure we are focused on all key priorities, our customers and
employees and continuing to deliver products and services that
maintain the freshness of fruits and vegetables consumed across the
globe,” continued Ms. Dicciani.”
About AgroFresh
AgroFresh Solutions, Inc. (NASDAQ: AGFS) is a global industry
leader in providing innovative data-driven specialty solutions
aimed at enabling growers and packers of fresh produce to preserve
and enhance the freshness, quality and value of fresh produce and
to maximize the percentage of produce supplied to the market
relative to the amount of produce grown. Its flagship product is
the SmartFresh™ Quality System, a freshness protection technology
proven to maintain firmness, texture and appearance of fruits
during storage and transport. SmartFresh is currently
commercialized in over 40 countries worldwide. For more
information, please visit www.agrofresh.com.
Forward-Looking Statements
In addition to historical information, this release may contain
“forward-looking statements” within the meaning of the “safe
harbor” provisions of the United States Private Securities
Litigation Reform Act of 1995. All statements, other than
statements of historical facts, included in this release that
address activities, events or developments that the Company expects
or anticipates will or may occur in the future are forward-looking
statements and are identified with, but not limited to, words such
as “anticipate”, “believe”, “expect”, “estimate”, “plan”,
“outlook”, and “project” and other similar expressions (or the
negative versions of such words or expressions). Forward-looking
statements include, without limitation, information concerning the
Company’s possible or assumed future results of operations,
including all statements regarding financial guidance, anticipated
future growth, business strategies, competitive position, industry
environment, potential growth opportunities and the effects of
regulation. These statements are based on management’s current
expectations and beliefs, as well as a number of assumptions
concerning future events. Such forward-looking statements are
subject to known and unknown risks, uncertainties, assumptions and
other important factors, many of which are outside the Company’s
management’s control that could cause actual results to differ
materially from the results discussed in the forward-looking
statements. These risks include, without limitation, the risk of
increased competition; the ability of the business to grow and
manage growth profitably; costs related to the Company’s business
combination with The Dow Chemical Company and/or related to
operating AgroFresh as a stand-alone public company; changes in
applicable laws or regulations, and the possibility that the
Company may be adversely affected by other economic, business,
and/or competitive factors. Additional risks and uncertainties are
identified and discussed in the Company’s filings with the SEC,
which are available at the SEC’s website at www.sec.gov.
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version on businesswire.com: http://www.businesswire.com/news/home/20160311005242/en/
Investors:AgroFresh Solutions, Inc.Margaret M. Loebl,
+1-215-592-3323Executive Vice President and Chief Financial
Officercmolino@agrofresh.com
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