Danimer Scientific Announces Steve Croskrey Retirement and Related Changes to the Company’s Board of Directors
2024年5月20日 - 10:10PM
ビジネスワイヤ(英語)
Danimer Scientific, Inc. (NYSE: DNMR) (“Danimer” or the
“Company”), a leading next generation bioplastics company focused
on the development and production of biodegradable materials,
announced today that Stephen E. Croskrey has informed the Board of
Directors that he will retire as Chief Executive Officer not later
than the end of this calendar year. Mr. Croskrey’s employment
contract expires at the end of 2024 following nine years leading
Danimer’s mission to commercialize its innovative biodegradable
plastic resin, Nodax® PHA. Mr. Croskrey has led Danimer through the
process of becoming a public company by merging with Live Oak
Acquisition Corp in 2020. During Mr. Croskrey’s tenure, Danimer has
acquired and expanded its Winchester, KY plant, which is now
capable of producing over 32.5 million pounds of neat PHA or about
65 million pounds of finished product. Danimer currently supplies
the resin for biodegradable and compostable drinking straws used by
leading brands including Starbucks as well as the broadly
distributed Phade brand of straws made by Wincup. Recently, the
Company has also begun supplying resin for use in compostable
plastic cutlery for a leading quick serve restaurant chain and for
coffee pods sold in Europe.
In connection with his retirement announcement, Mr. Croskrey has
resigned from his position as Chairman of the Board, effective May
20, 2024, though he will continue to serve on the Board through his
current term and will be a nominee for reelection at this year’s
annual meeting of stockholders. The Board has appointed Richard J.
Hendrix as Chairman, serving in that role upon Mr. Croskrey’s
resignation as Chairman. Mr. Hendrix also will serve as Interim
Executive Chairman during the period of transition to identify a
CEO to succeed Mr. Croskrey. Additionally, the Board has formed an
Executive Committee comprised of Mr. Hendrix, John Amboian, David
Moody, and Mr. Croskrey. The Executive Committee will be charged
with leading the search process for a new CEO, along with oversight
of strategy and shareholder engagement during the transition
period. More detail regarding Mr. Croskrey’s retirement can be
found in the 8-K filed by the Company today.
Mr. Hendrix commented, “We thank Steve for his tireless efforts
over the past several years to lead the development of Danimer’s
transformative technology and to build a strong pipeline of
opportunities to commercialize and scale Nodax®. Taking our
business to the next level will require a strong leader who can
build enduring relationships with our customers and shareholders.
We’re excited about our prospects for identifying a world-class CEO
who can build on the progress made during Steve’s tenure.”
Mr. Croskrey added, “I’m grateful for the opportunity to have
led Danimer to a leadership position in biodegradable polymers and
to the verge of a substantial scaling process and a path to
positive earnings and cash flow. I thank the entire Danimer team
for your great work and dedication. I love your commitment to our
mission, and I know that you will continue to do great things. I
look forward to supporting a new CEO and seeing our customers, our
employees, our shareholders, and our communities in Winchester, KY
and Bainbridge, GA rewarded for their belief in our amazing PHA
technology.”
About Danimer Scientific
Danimer is a pioneer in creating more sustainable, more natural
ways to make plastic products. For more than a decade, its
renewable and sustainable biopolymers have helped create plastic
products that are biodegradable and compostable and return to
nature instead of polluting our lands and waters. Danimer’s
technology can be found in a vast array of plastic end products
that people use every day. Applications for its biopolymers include
additives, aqueous coatings, fibers, filaments, films and
injection-molded articles, among others. Danimer holds more than
480 granted patents and pending patent applications in more than 20
countries for a range of manufacturing processes and biopolymer
formulations. For more information, visit
https://danimerscientific.com.
Forward‐Looking Statements
Please note that in this press release we may use words such as
“appears,” “anticipates,” “believes,” “plans,” “expects,”
“intends,” “future,” and similar expressions which constitute
forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include, without limitation, statements
regarding our expectations for the full year 2024 capital
expenditures, Adjusted EBITDA and liquidity, and statements
regarding the outcome of stockholder votes on proposals at the
Company’s annual meeting of stockholders. Forward-looking
statements are made based on our expectations and beliefs
concerning future events impacting the Company and therefore
involve a number of risks and uncertainties. We caution that
forward-looking statements are not guarantees and that actual
results could differ materially from those expressed or implied in
the forward-looking statements. Potential risks and uncertainties
that could cause the actual results of operations or financial
condition of the Company to differ materially from those expressed
or implied by forward-looking statements in this release include,
but are not limited to, the overall level of consumer demand on our
products; general economic conditions and other factors affecting
consumer confidence, preferences, and behavior; disruption and
volatility in the global currency, capital, and credit markets; the
financial strength of the Company's customers; the Company's
ability to implement its business strategy, including, but not
limited to, its ability to expand its production facilities and
plants to meet customer demand for its products and the timing
thereof; risks relating to the uncertainty of the projected
financial information with respect to the Company; the ability of
the Company to execute and integrate acquisitions; changes in
governmental regulation, legislation or public opinion relating to
our products; the Company’s exposure to product liability or
product warranty claims and other loss contingencies; the impact on
our business, operations and financial results from the ongoing
conflicts in Ukraine and the Middle East; the impact that global
climate change trends may have on the Company and its suppliers and
customers; the Company's ability to protect patents, trademarks and
other intellectual property rights; any breaches of, or
interruptions in, our information systems; the ability of our
information technology systems or information security systems to
operate effectively, including as a result of security breaches,
viruses, hackers, malware, natural disasters, vendor business
interruptions or other causes; our ability to properly maintain,
protect, repair or upgrade our information technology systems or
information security systems, or problems with our transitioning to
upgraded or replacement systems; the impact of adverse publicity
about the Company and/or its brands, including without limitation,
through social media or in connection with brand damaging events
and/or public perception; fluctuations in the price, availability
and quality of raw materials and contracted products as well as
foreign currency fluctuations; our ability to utilize potential net
operating loss carryforwards; and changes in tax laws and
liabilities, tariffs, legal, regulatory, political and economic
risks. More information on potential factors that could affect the
Company's financial results is included from time to time in the
Company's public reports filed with the Securities and Exchange
Commission, including the Company's Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.
All forward-looking statements included in this press release are
based upon information available to the Company as of the date of
this press release and speak only as of the date hereof. We assume
no obligation to update any forward-looking statements to reflect
events or circumstances after the date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20240520668322/en/
Investors Blake Chamblee Phone: 770-337-6570
ir@danimer.com
Media Richard Ivey Phone: 229-254-7688
rivey@danimer.com
Danimer Scientific (NYSE:DNMR)
過去 株価チャート
から 8 2024 まで 9 2024
Danimer Scientific (NYSE:DNMR)
過去 株価チャート
から 9 2023 まで 9 2024