AquaBounty appoints Sylvia Wulf as Chief Executive Officer
November 28 2018 - 7:30AM
AquaBounty Technologies, Inc. (NASDAQ: AQB) (“AquaBounty” or the
“Company”), a biotechnology company focused on enhancing
productivity in the aquaculture market and a majority-owned
subsidiary of Intrexon Corporation (NASDAQ: XON), is pleased to
announce the appointment of Sylvia Wulf as Chief Executive Officer
and Executive Director effective on January 1, 2019.
Sylvia Wulf joins AquaBounty from US Foods,
Inc., one of the country’s leading food distributors, where she is
currently a Senior Vice President and has been President of the
Manufacturing Division since 2011. Prior to US Foods, Ms.
Wulf has held senior positions at Tyson Foods Inc, Sara Lee
Corporation, and Bunge Corp., among others. Additionally, she
is currently on the Board of Directors and the Executive Committee
of the National Fisheries Institute. Her appointment has been
planned to coincide with the Company’s developing emphasis on the
commercialization of AquAdvantage Salmon, as the majority of the
required regulatory hurdles have been passed.
Dr. Ronald Stotish will remain with the Company
as an Executive Director with responsibility for research and
regulatory affairs. He will continue to work closely with the
regulatory authorities involved in food and biotechnology in the
United States, Canada, and other countries. He will also lead
the continued technical development of new products and will work
closely with Ms. Wulf in the planned expansion of the production
organization both within North America and abroad.
According to Richard Clothier, Chairman of the
Board of Directors, “We are delighted to appoint Sylvia Wulf as the
Chief Executive Officer of AquaBounty. Her wide and deep
experience in the food industry in North America and its fish
sector will be a vital asset in the production and marketing of
AquAdvantage Salmon and in the development of additional
products. This appointment greatly strengthens AquaBounty’s
executive team at a crucial stage in the Company’s development, and
the Board looks forward to a period of rapid growth under Sylvia’s
leadership.
The Board would also like to take this
opportunity to thank Dr. Stotish for the tireless work and effort
he has put into successfully navigating the Company through the
rigorous regulatory channels in the United States and Canada that
culminated in approvals for AquAdvantage Salmon by both the U.S.
Food and Drug Administration and Health Canada.”
Sylvia Wulf added “AquAdvantage Salmon is the
type of innovation necessary to meet the rising consumer demand for
a healthy source of protein, and salmon in particular, without
placing further pressure on the sea and coastal environments.
I look forward to working with Dr. Stotish and the team to
successfully commercialize it both in North America and
abroad.”
About AquAdvantage Salmon – AquAdvantage Salmon
is an Atlantic salmon that has been bioengineered to grow to market
size in about half the time of a traditional farmed Atlantic
salmon. It significantly improves the economics of producing
salmon in land-based contained facilities. AquAdvantage
Salmon is a healthy, environmentally sustainable alternative to
imported farmed Atlantic salmon.
For further information, please contact:
Dave Conley, Director of CommunicationsAquaBounty Technologies,
Inc.613 294 3078
Forward-Looking Statements:
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. All statements other than
statements of historical fact contained in this press release are
forward-looking statements, including statements regarding the
potential for clearance of all regulatory hurdles to allow for
commercialization, the potential for increased commercialization,
the expansion of the production organization, the development of
additional products, and the potential for growth of the Company.
Forward-looking statements may be identified with words such as
“will,” “may,” “expect,” “plan,” “anticipate,” “upcoming,”
“believe,” “estimate,” or similar terminology, and the negative of
these terms. Forward-looking statements are not promises or
guarantees of future performance and are subject to a variety of
risks and uncertainties, many of which are beyond our control,
which could cause actual results to differ materially from those
contemplated in these forward-looking statements. Forward-looking
statements speak only as of the date hereof, and, except as
required by law, we undertake no obligation to update or revise
these forward-looking statements. For additional information
regarding these and other risks faced by us, please refer to our
public filings with the Securities and Exchange Commission (“SEC”),
available on the Investors section of our website at
www.aquabounty.com and on the SEC’s website at www.sec.gov.
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