Alto Ingredients, Inc. Elects Maria G. Gray to the Board
24 June 2022 - 09:05PM
Alto Ingredients, Inc. (NASDAQ: ALTO), a leading
producer and distributor of specialty alcohols and essential
ingredients, announced the shareholders approved all of the
proposals in the proxy at the Annual General Meeting of
Shareholders, including electing Maria G. “Gabby” Gray, 45, as an
independent director of the board, effectively immediately. The
board membership remains at seven, and Gray replaces John L.
Prince, 79, who retired [with no malice toward the company] as part
of a Board refreshment and focus on increasing board diversity.
“Maria has served as an advisor to the board for approximately a
year and provided excellent counsel,” said William L. Jones, Alto
Ingredients’ Chairperson. “We expect to benefit from Maria’s depth
and breadth of experience in refining, industrial and chemical
processes and operations. She has deep understanding of production,
including plant operations and optimization, as well as in
supporting capital investments for projects up to $400 million.
Additionally, her work driving Process Safety Management
initiatives and developing management systems to energize
organizations around safety and regulatory compliance aligns well
with our increased emphasis on Quality and Sustainability.”
Jones added, “We thank John for his service to Alto Ingredients.
We appreciate his leadership as the company evolved to become a
leading producer and distributor of specialty alcohols and
essential ingredients, and his support of greater diversity on the
Board.”
About Maria G. GrayMaria G. “Gabby” Gray has
been an advisor to the Alto Ingredients board since June 2021. From
2012 to 2021, Ms. Gray served in several capacities, including as a
Senior Health, Safety, and Environmental Professional and as a
Project Process Engineering Lead, at Marathon Petroleum Company, an
petroleum refining, marketing, and transportation company. From
2001 to 2012, she held various engineering and supervisory roles at
Motiva Enterprises LLC, which operates North America’s largest
refinery in Port Arthur, Texas, producing and distributing fuels
and specialty chemicals. Ms. Gray also served as a Process Engineer
for Union Carbide Corporation, a wholly owned subsidiary of Dow
Chemical Company, that produces specialty chemicals and
polymers.
Ms. Gray has a B.S. degree in Chemical Engineering, Minor in
Business and Minor in Architecture from Tulane University.
About Alto Ingredients, Inc.Alto Ingredients,
Inc. (ALTO) is a leading producer and distributor of specialty
alcohols and essential ingredients. The company is focused on
products for four key markets: Health, Home & Beauty; Food
& Beverage; Essential Ingredients; and Renewable Fuels. The
company’s customers include major food and beverage companies and
consumer products companies. For more information, please visit
www.altoingredients.com.
Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995Statements and information
contained in this communication that refer to or include Alto
Ingredients’ estimated or anticipated future results or other
non-historical expressions of fact are forward-looking statements
that reflect Alto Ingredients’ current perspective of existing
trends and information as of the date of the communication. Forward
looking statements generally will be accompanied by words such as
“anticipate,” “believe,” “plan,” “could,” “should,” “estimate,”
“expect,” “forecast,” “outlook,” “guidance,” “intend,” “may,”
“might,” “will,” “possible,” “potential,” “predict,” “project,” or
other similar words, phrases or expressions. Such forward-looking
statements include, but are not limited to, statements concerning
Alto Ingredients’ expected uses of funds received under the USDA’s
Biofuel Producer Program and the effects of, including the
financial results deriving from, Alto Ingredients’ capital
improvement projects; and Alto Ingredients’ other plans,
objectives, expectations and intentions. It is important to note
that Alto Ingredients’ plans, objectives, expectations and
intentions are not predictions of actual performance. Actual
results may differ materially from Alto Ingredients’ current
expectations depending upon a number of factors affecting Alto
Ingredients’ business. These factors include, among others, Alto
Ingredients’ ability to timely and effectively complete its capital
improvement and other projects and initiatives, and to operate them
as expected; adverse economic and market conditions, including for
specialty alcohols and essential ingredients; export conditions and
international demand for the company’s products; fluctuations in
the price of and demand for oil and gasoline; raw material costs,
including production input costs, such as corn and natural gas; and
the effects – both positive and negative – of the coronavirus
pandemic and its resurgence or abatement. These factors also
include, among others, the inherent uncertainty associated with
financial and other projections; the anticipated size of the
markets and continued demand for Alto Ingredients’ products; the
impact of competitive products and pricing; the risks and
uncertainties normally incident to the specialty alcohol production
and marketing industries; changes in generally accepted accounting
principles; successful compliance with governmental regulations
applicable to Alto Ingredients’ facilities, products and/or
businesses; changes in laws, regulations and governmental policies;
the loss of key senior management or staff; and other events,
factors and risks previously and from time to time disclosed in
Alto Ingredients’ filings with the Securities and Exchange
Commission including, specifically, those factors set forth in the
“Risk Factors” section contained in Alto Ingredients’ Quarterly
Report on Form 10-Q filed with the Securities and Exchange
Commission on May 10, 2022.
Media Contact:
Bryon
McGregor, Alto Ingredients, Inc., 916-403-2768
mediarelations@altoingredients.com
Company IR Contact:
Michael
Kramer, Alto Ingredients, Inc., 916-403-2755
investorrelations@altoingredients.com
IR Agency Contact: Kirsten Chapman, LHA
Investor Relations, 415-433-3777
investorrelations@altoingredients.com
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