Enzymotec Ltd. Announces Changes to Its Board of Directors
03 January 2014 - 12:00AM
Enzymotec Ltd. (Nasdaq:ENZY), a developer, manufacturer and
marketer of innovative bio-functional lipid ingredients, announced
today that it has appointed Steve Dubin as Chairman of its board of
directors, effective January 1, 2014.
The Company also announced that Yoav Doppelt has been appointed
as Vice Chairman of the board. Mr. Doppelt has served as Chairman
of Enzymotec's board of directors since October 2011 and as a
director since 2001. He will continue to be an actively involved
board member and will assist Mr. Dubin during the transition
process.
Yoav Doppelt commented, "We are very pleased that Mr. Dubin has
agreed to lead our board. His intellect, depth of business
knowledge and proven leadership skills have already made many
valuable contributions since he joined Enzymotec's board, and we
look forward to his further assistance in augmenting our growth
strategies. We believe that his wealth of nutritional expertise
will both support our commitment to providing our customers with
the highest quality products and to enhancing the market leadership
of Enzymotec."
Steve Dubin said, "Enzymotec's industry reputation, solid
product portfolio and focus on innovation position the Company as a
recognized global leader in the large and growing nutritional
markets. I am grateful to the board of directors for the
opportunity, and I am excited to work further with the talented and
dedicated Enzymotec team."
Steve Dubin has served as Vice Chairman of Enzymotec's board of
directors since April 2013. Since November 2011, Mr. Dubin has been
a Principal in SDA Ventures LLC, a firm focused on assisting
emerging growth and middle-market companies, primarily in the
health and wellness and nutritional products markets, on matters
including corporate development, business acquisitions, customer
relations, growth strategies and corporate finance. Mr. Dubin also
acts as a Senior Advisor to Paine & Partners, LLC, a global
private equity investment firm, helping to identify and to execute
investment opportunities in the global human and animal food and
nutritional products industries. From 2006 until its acquisition by
Royal DSM N.V. in February 2011, Mr. Dubin served as Chief
Executive Officer and a member of the board of directors of Martek
Biosciences Corporation. He also served as President of DSM's
Nutritional Lipids Division immediately after DSM's acquisition of
Martek and as a Senior Advisor to DSM Nutritional Products from
2011 through October 2012. Having joined Martek in 1992, he held
various management positions, including Chief Financial Officer,
Treasurer, Secretary, General Counsel and Senior Vice President,
Business Development, as well as President of Martek from 2003 to
2006. Mr. Dubin is a co-founder and co-manager of a Maryland-based,
angel-investing club. Mr. Dubin currently serves as a member of the
board of several privately held companies, including The Brain
Center, LLC, MyCell Technologies and its subsidiary Oceans Omega
LLC, and Alcresta, Inc. Prior to that, he was a member of the board
of directors of Scerene Healthcare, Inc. Mr. Dubin holds a
bachelor's degree in accounting from the University of Maryland and
a Juris Doctor degree from the National Law Center at George
Washington University. He is a certified public accountant and a
member of the Maryland Bar.
About Enzymotec Ltd.
Enzymotec is a leading global supplier of specialty lipid-based
products and solutions. The Company develops, manufactures and
markets innovative bio-functional lipid ingredients, as well as
final products, based on sophisticated processes and technologies.
For more information, visit www.enzymotec.com.
Forward Looking Statement This release may
contain forward-looking statements, which express the current
beliefs and expectations of Company management. Such statements
involve a number of known and unknown risks and uncertainties that
could cause our future results, performance or achievements to
differ significantly from the results, performance or achievements
expressed or implied by such forward-looking statements. Important
factors that could cause or contribute to such differences the
following risks: a high proportion of the sales of our InFat
product is sold to end users by a single company in China; we rely
on our Swedish joint venture partner to manufacture InFat, and
certain matters related to the joint venture are or, based on
communications from our joint venture partner, are the subject of
disagreement; our gross profits may be adversely affected if we are
only able to obtain lower quality krill meal; our ability to obtain
krill may be affected by conservation regulation or initiatives; we
are dependent on a single facility that houses the majority of our
operations; we may not be able to expand our production or
processing capabilities or satisfy growing demand; our product
development cycle is lengthy and uncertain, and our development or
commercialization efforts for our products may be unsuccessful; we
are subject to significant and increasing government regulations
regarding the sale and marketing of our products; we may not be
able to protect our proprietary technology or prevent its
unauthorized use by third parties; we are currently subject to
litigation, and in the future may become subject to additional
litigation, regarding intellectual property rights; and other
factors discussed under the heading "Risk Factors" in the Company's
final prospectus for its initial public offering filed with the
Securities and Exchange Commission on September 30, 2013.
Forward-looking statements in this release are made pursuant to the
safe harbor provisions contained in the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
made only as of the date hereof, and the company undertakes no
obligation to update or revise the forward-looking statements,
whether as a result of new information, future events or
otherwise.
CONTACT: ICR, LLC
Katie Turner
646-277-1228
-or-
John Mills
310-954-1105
John.Mills@icrinc.com
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