- 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
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.
SOURCE EcoSynthetix Inc.
For further information:
Jeff MacDonald, Interim CEO
Phone: (289) 878-0286
TMX Equicom | Investor Relations
Phone: (416) 815-0700 ext. 288