-- Experienced Biotechnology Executive Will Help Advance Innovative
Agricultural Traits --
DAVIS, Calif.--(BUSINESS WIRE)--May 10, 2016--
Arcadia Biosciences, Inc. (Nasdaq: RKDA), an agricultural technology
company that creates value for farmers while benefitting the environment
and enhancing human health, announced today that Raj Ketkar will join
the company as president and chief executive officer later this month.
Ketkar will replace Roger Salameh, who has served as interim president
and CEO since February. Salameh will take on a new role as chief
operating officer for the company, reporting to the CEO.
Ketkar brings nearly 35 years of agriculture and agricultural
biotechnology business experience in the U.S. and internationally. He
spent more than 30 years in a variety of business, operations, and
strategy roles for Monsanto Company, during which time he demonstrated
successes in agricultural trait commercialization and growth around the
globe. As managing director of the Mahyco-Monsanto joint venture in
India, Ketkar led the launch of Bt cotton, the country’s first
agricultural biotechnology product. In addition to his operations and
trait commercialization experience, Ketkar was also director of
biotechnology strategy for Monsanto, where he led the development of the
company’s trait stacking technology.
“With a number of breakthrough yield and stress traits in the late
stages of development, Arcadia is at an exciting stage as a company,”
said Ketkar. “I look forward to working with Roger and the team to build
upon the company’s achievements and improve the productivity and
environmental sustainability of agriculture,” he said.
Darby Shupp, chair of Arcadia’s board of directors, remarked, “Raj has a
well-established track record of building strategic partnerships and
launching innovative agricultural technologies in multiple geographies.
He is a proven leader with the unique set of skills and experience
Arcadia needs to grow the business and commercialize the company’s rich
and robust trait pipeline.”
Shupp added, “The Board would like to thank Roger for guiding the
company through this important transition. We are fortunate that we will
have the benefit of his continued contributions as chief operating
officer of Arcadia. He, Raj, and the rest of the executive management
team provide a solid foundation to help deliver on our shared vision for
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,
including statements relating to the company’s agricultural traits,
stage of development and pipeline. 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 agricultural traits; the
company’s and its partners’ ability to develop commercial products
incorporating its traits, and complete the regulatory review process for
such products; 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 March 31, 2016 and other filings. These
forward-looking statements speak only as of the date hereof, and Arcadia
Biosciences, Inc. disclaims any obligation to update these
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Source: Arcadia Biosciences, Inc.
Arcadia Biosciences, Inc.