New directors bring wealth of experience in
operations, strategy, corporate finance, and M&A across the
chemicals and materials science industries
Origin Materials (“Origin”) (NASDAQ: ORGN ORGNW), the world’s
leading carbon negative materials company with a mission to enable
the world’s transition to sustainable materials, today announced
the appointments of Craig Rogerson and R. Tony Tripeny to the
Origin Board of Directors. Mr. Rogerson will also serve as a member
of the Board's Audit and Compensation Committees, and Mr. Tripeny
will be joining the Audit and Nominating & Corporate Governance
Committees, effective May 1.
The new directors’ wealth of experience in operations, strategy,
corporate finance, and M&A across the chemicals and materials
science industries will support Origin’s mission to enable the
world’s transition to sustainable materials.
"We are pleased to add two accomplished, seasoned business
leaders with deep expertise leading world-class chemicals and
materials science companies to the Origin Board,” said John
Bissell, Co-Founder and Co-CEO of Origin Materials. “I look forward
to working with Craig and Tony as we advance in our journey to
decarbonize the world’s materials.”
“We believe Craig and Tony will bring valuable and highly
relevant operating expertise to Origin and will be a tremendous
benefit as we start commercial production and begin to satisfy over
$9.3 billion in total customer demand,” said Rich Riley, Co-CEO of
Origin Materials. “They will be outstanding additions to our
Board.”
Mr. Rogerson has four decades of executive experience leading
private and publicly held specialty chemical companies. He served
as Chairman, President and Chief Executive Officer of Hexion Inc.,
a leading global producer of adhesives and performance materials,
from July 2017 until his retirement in January 2023. Previously, he
served from December 2008 to April 2017 as Chairman, President and
Chief Executive Officer at Chemtura Corporation, a global
developer, manufacturer and marketer of engineered industrial
specialty chemicals. Mr. Rogerson also served as President, Chief
Executive Officer and Director of Hercules Incorporated from
December 2003 until November 2008. He currently serves as
independent board chair of PPL Corporation and on the boards of the
Pancreatic Cancer Action Network and McLaren Northern Michigan
Hospital. He also previously served on the boards of Ashland Global
Holdings Inc., the Society of Chemical Industry and the American
Chemistry Council. Mr. Rogerson holds a chemical engineering degree
from Michigan State University, and continues to serve on the
Michigan State University College of Engineering Alumni board and
on the advisory board of the Michigan State University Chemical
Engineering & Materials Science Department.
Mr. Tripeny brings over three decades of significant
operational, strategy, and M&A experience, extensive knowledge
of the manufacturing, technology, and materials science industries,
and a background in international corporate finance. Since 2022, he
has served as a director at Mesa Laboratories, Inc., a global
leader in the design and manufacturing of life science tools and
critical quality control solutions. During his 36-year career with
Corning, Incorporated, a global leading innovator in materials
science, Mr. Tripeny held various, progressive leadership roles in
the areas of corporate accounting and finance, including Executive
Vice President, Chief Financial Officer and Senior Vice President,
Corporate Controller and Principal Accounting Officer. He also
served on the board of Hardinge Inc. from 2012 to 2018 and as a
Financial Analyst for GKN Automotive Inc. from 1981 to 1985. Mr.
Tripeny holds an economics degree from the University of
Pennsylvania’s Wharton School of Business and is a member of the
Financial Executives Institute and the Institute of Management
Accounting.
“Origin Materials is an exceptional company, and I am honored to
join the Board of Directors to help accelerate their growth and
their customers’ transition to net zero,” said Mr. Rogerson. “The
company’s patented breakthrough platform technology for producing
recyclable and sustainable materials makes climate action possible,
and I look forward to the opportunity to join the talented Origin
team as we work to execute the company’s growth strategy and scale
its transformative technology.”
“I am very excited to join Origin’s Board at such a pivotal time
for the Company,” said Mr. Tripeny. “I am energized to work
alongside this top-notch group of individuals united by the same
mission to accelerate the shift to low- and negative-emission
materials, and I look forward to bringing my finance, operational
and management experience into play as Origin continues to execute
on its global growth strategy.”
About Origin Materials
Headquartered in West Sacramento, Origin Materials is the
world's leading carbon negative materials company. Origin’s mission
is to enable the world’s transition to sustainable materials. For
over a decade, Origin has developed a platform for turning the
carbon found in inexpensive, plentiful, non-food biomass such as
sustainable wood residues into useful materials while capturing
carbon in the process. Origin’s patented technology platform can
help revolutionize the production of a wide range of end products,
including clothing, textiles, plastics, packaging, car parts,
tires, carpeting, toys, fuels, and more with a ~$1 trillion
addressable market. In addition, Origin’s technology platform is
expected to provide stable pricing largely decoupled from the
petroleum supply chain, which is exposed to more volatility than
supply chains based on sustainable wood residues. Origin’s patented
drop-in core technology, economics and carbon impact are supported
by a growing list of major global customers and investors.
For more information, visit www.originmaterials.com.
Cautionary Note on Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws. Forward-looking
statements generally are accompanied by words such as “believe,”
“may,” “will,” “estimate,” “continue,” “anticipate,” “intend,”
“expect,” “should,” “would,” “plan,” “predict,” “potential,”
“seem,” “seek,” “future,” “outlook,” and similar expressions that
predict or indicate future events or trends or that are not
statements of historical matters. These forward-looking statements
include, but are not limited to, statements regarding Origin
Materials’ business strategy, estimated total addressable market,
timelines to begin commercial production, ability to convert
capacity reservations and offtake agreements into revenue and
satisfy total customer demand, ability to enter new end-markets,
ability to develop new product categories, commercial and operating
plans, product development plans, and anticipated growth and
projected financial information. These statements are based on
various assumptions, whether or not identified in this press
release, and on the current expectations of the management of
Origin Materials and are not predictions of actual performance.
These forward-looking statements are provided for illustrative
purposes only and are not intended to serve as, and must not be
relied on as, a guarantee, an assurance, a prediction, or a
definitive statement of fact or probability. Actual events and
circumstances are difficult or impossible to predict and will
differ from assumptions. Many actual events and circumstances are
beyond the control of Origin Materials. These forward-looking
statements are subject to a number of risks and uncertainties,
including that Origin Materials may be unable to successfully
commercialize its products; the effects of competition on Origin
Materials’ business; the uncertainty of the projected financial
information with respect to Origin; disruptions and other impacts
to Origin’s business as a result of outbreaks such as the COVID-19
pandemic, Russia’s military intervention in Ukraine, the impact of
severe weather events, and other global health or economic crises;
changes in customer demand; and those factors discussed in the
Annual Report on Form 10-K filed with the U.S. Securities and
Exchange Commission on February 23, 2023 under the heading “Risk
Factors,” and other documents Origin Materials has filed, or will
file, with the SEC. If any of these risks materialize or our
assumptions prove incorrect, actual results could differ materially
from the results implied by these forward-looking statements. There
may be additional risks that Origin Materials presently does not
know, or that Origin Materials currently believes are immaterial,
that could also cause actual results to differ from those contained
in the forward-looking statements. In addition, forward-looking
statements reflect Origin Materials’ expectations, plans, or
forecasts of future events and views as of the date of this press
release. Origin Materials anticipates that subsequent events and
developments will cause its assessments to change. However, while
Origin Materials may elect to update these forward-looking
statements at some point in the future, Origin Materials
specifically disclaim any obligation to do so. These
forward-looking statements should not be relied upon as
representing Origin Materials’ assessments of any date subsequent
to the date of this press release. Accordingly, undue reliance
should not be placed upon the forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230403005250/en/
Investors: ir@originmaterials.com Media:
media@originmaterials.com
Origin Materials (NASDAQ:ORGNW)
Historical Stock Chart
From Jun 2024 to Jul 2024
Origin Materials (NASDAQ:ORGNW)
Historical Stock Chart
From Jul 2023 to Jul 2024