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– CEO John van Leeuwen taking leave of absence –
– Company Appoints COO Jeff MacDonald as Interim CEO –
BURLINGTON, ON, Feb. 18, 2015 /CNW/ – EcoSynthetix Inc. (TSX:ECO) ("EcoSynthetix" or the "Company"), a renewable chemicals company that produces a family of commercially proven bio-based products, announced today that effective immediately, John van Leeuwen, Co-Founder and Chief Executive Officer, is taking a leave of absence due to personal reasons.
The Board has appointed Jeff MacDonald, Chief Operating Officer (COO), to serve as interim CEO.
"The Board respects and supports John's need for this leave of absence," said David Colcleugh, Chairman of EcoSynthetix. "We place our full confidence and support behind Jeff in leading EcoSynthetix during this important period for the Company."
Since his appointment in April 2014, Mr. MacDonald has worked closely with EcoSynthetix' senior leadership team and Board of Directors to execute the Company's strategic vision and objectives. This will help ensure a seamless transition for Mr. MacDonald to effectively lead EcoSynthetix.
Mr. MacDonald has more than 15 years of experience in executive leadership. Prior to EcoSynthetix, Mr. MacDonald was Vice-President of Marketing and Business Development at Husky Injection Molding Systems. Previously, he held leadership roles in sales and operations, and led the establishment of Husky's Asia-Pacific business. Mr. MacDonald holds a Master of Business Administration degree from McMaster University and a Bachelor of Science degree from the University of Western Ontario.
About EcoSynthetix Inc. (www.ecosynthetix.com)
EcoSynthetix Inc. is a renewable chemicals company specializing in bio-based products that can be used as inputs in industrial manufacturing for a wide range of consumer products. The Company's products offer a reduced carbon footprint and are marketed primarily on the basis of lower cost, stable pricing and equal or superior performance. EcoSynthetix's lead product, EcoSphere® biolatex® binders, is used commercially by a number of the global top 20 manufacturers in the coated paper and paperboard industry.
Forward Looking Statements
Certain statements in this Press Release constitute "forward looking" statements, including statements relating to Mr.van Leeuwen's leave of absence and the transition for Mr. MacDonald to effectively lead EcoSynthetix. Forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, objectives or achievements of the Company, or industry results, to be materially different from any future results, performance, objectives or achievements expressed or implied by such forward looking statements. These statements reflect our current views regarding future events and operating performance and are based on information currently available to us, and speak only as of the date of this Press Release. These forward looking statements involve a number of risks, uncertainties and assumptions and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such performance or results will be achieved. Those assumptions and risks include, but are not limited to, the fact that our results of operations and business outlook are subject to significant risk, volatility and uncertainty. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward looking statements, including the factors identified in the "Risk Factors" section of the Company's Annual Information Form dated March 31, 2014. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described in this Press Release as intended, planned, anticipated, believed, estimated or expected. Unless required by applicable securities law, we do not intend and do not assume any obligation to update these forward looking statements.
Jeff MacDonald, Interim CEO
Phone: (289) 245-4011
Phone: (416) 815-0700 (ext. 288)