BURLINGTON, ON, March 19, 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 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
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.
SOURCE EcoSynthetix Inc.
For further information:
Phone: (289) 245-4017
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