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Burlington, Ontario, March 19, 2015 – 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 it has appointed Interim CEO Jeff MacDonald as Chief Executive Officer of EcoSynthetix effective May 1, 2015. Mr. MacDonald replaces the Company’s previous Chief Executive Officer, John van Leeuwen, whose departure will be effective May 1, 2015.
“As co-founder, John’s vision and entrepreneurial acumen propelled EcoSynthetix from a start-up to the high-potential company we are today,” stated David Colcleugh, Chairman of the Board of Directors. “The Board’s decision was the result of an ongoing deliberative process. With strong fundamentals in place, we believe the time is right to drive changes across the business that will help us achieve rapid, sustainable growth.”
Mr. MacDonald joined EcoSynthetix as Chief Operating Officer in April 2014 and was appointed as the Company’s Interim Chief Executive Officer on February 19, 2015.
Mr. MacDonald came to EcoSynthetix with more than 15 years of executive leadership experience in a variety of roles, including operations, business development, and marketing. He spent the majority of his career at Husky Injection Molding Systems, a leading manufacturer of equipment and services for the plastics industry, with more than $1 billion in annual sales. At Husky, Mr. MacDonald led the establishment of new businesses, introduced a number of new products to market and led key initiatives that had a transformational impact on overall business performance.
Mr. MacDonald holds a Master of Business Administration degree from McMaster University and a Bachelor of Science degree from the University of Western Ontario.
Mr. Colcleugh further commented, “Jeff has proven himself as both an implementer and operator. We are confident that under his leadership our Company will return to its expected growth trajectory.”
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
This press release contains certain forward-looking statements about the Company’s future plans and intentions, including statements relating to the Company’s intention to implement changes across it business to achieve growth. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “scheduled” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect Management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Corporation cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Corporation assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
For further information, please contact:
Phone: (289) 245-4017
Investor Relations | TMX Equicom
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