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 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.
SOURCE EcoSynthetix Inc.