DAVIS, Calif.--(BUSINESS WIRE)--Jan. 13, 2016--
Arcadia Biosciences, Inc. (Nasdaq: RKDA) announced today that President
and Chief Executive Officer Eric Rey will be taking a short-term medical
leave of absence from the company. He is undergoing an elective medical
procedure to install a stent in a coronary artery. A full recovery is
expected, and it is anticipated that he will return to his normal duties
after clearance from his physician.
Arcadia board member Mark Wong will serve as acting president and CEO
during Mr. Rey’s medical leave, working in tandem with Arcadia’s
experienced senior management team. Mr. Wong has been a member of the
board since May 2006, and has an extensive background as an executive in
the biotechnology and agriculture industries.
“We wish Eric a quick and full recovery,” said Darby Shupp, chair of the
board of directors. “The company is fortunate to have a strong executive
management team that has worked together for more than a decade, and I
am confident that we will continue to advance Arcadia’s operational and
strategic objectives while we allow Eric time to focus on his health.”
Mr. Wong has more than 35 years of experience in agribusiness, with
particular expertise in technology integration and commercialization. He
has founded and managed a series of agricultural and biotechnology
companies, including Agrivida, Renewable Agricultural Energy Corporation
and Emergent Genetics.
About Arcadia Biosciences, Inc.
Based in Davis, Calif., with additional facilities in Seattle, Wash. and
Phoenix, Ariz., Arcadia Biosciences (Nasdaq: RKDA) develops agricultural
products that create added value for farmers while benefitting the
environment and enhancing human health. Arcadia’s agronomic performance
traits, including Nitrogen Use Efficiency, Water Use Efficiency,
Salinity Tolerance, Heat Tolerance and Herbicide Tolerance, are all
aimed at making agricultural production more economically efficient and
environmentally sound. Arcadia’s nutrition traits and products are aimed
at creating healthier ingredients and whole foods with lower production
costs. The company was recently listed in the Global Cleantech 100 and
was previously named one of MIT Technology Review's 50 Smartest
Companies. For more information, visit www.arcadiabio.com.
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are subject to risks and uncertainties that
could cause actual results to differ materially, and reported results
should not be considered as an indication of future performance. These
risks and uncertainties include, but are not limited to: the company’s
and its partners’ and affiliates’ ability to identify and isolate
desired traits; the company’s and its partners’ ability to develop
commercial products incorporating its traits; the company’s compliance
with laws and regulations that impact the company’s business, and
changes to such laws and regulations; the company’s future capital
requirements and ability to satisfy its capital needs; and the other
risks set forth in the company’s filings with the Securities and
Exchange Commission from time to time, including the risks set forth in
the company's Quarterly Report on Form 10-Q for the quarter ended
September 30, 2015 and other filings. These forward-looking statements
speak only as of the date hereof, and Arcadia Biosciences, Inc.
disclaims any obligation to update these forward-looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160113005356/en/
Source: Arcadia Biosciences, Inc.
Arcadia Biosciences, Inc.