TYRU Tyratech (DI)

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RNS Number : 7087U

TyraTech, Inc.

11 April 2016

Strictly Embargoed until 07.00: 11 April 2016

TyraTech, Inc.

("TyraTech" or the "Company")

Appointment of José Barella as Chairman

TyraTech, Inc. (AIM: TYR and TYRU), a life sciences technology company focused on nature-derived insect and parasite control products, announces the appointment of José Geraldo Ramalho Barella, aged 60, as Non-Executive Chairman with immediate effect. Alan Reade will step down as Chairman, but will remain on the Board as a Non-Executive Director.

Mr Barella, a Brazilian citizen, has significant global experience across the Animal Health, Human Health, Crop Protection and Chemical Industries, having held a variety of senior management and executive positions throughout his career. José holds a BSc in Chemical Engineering and is fluent in Portuguese, English and French.

He began his career in 1982 in the chemical industry, first at steel maker Cosipa and later with Alcoa. Subsequently, he joined Rhone Poulenc's Brazilian subsidiary Rhodia in 1986 and over a six year period held several senior positions in engineering, project management and marketing.

In 1992 he was appointed VP of Industrial Operations for Rhodia Pharma, the Human Health division of Rhone Poulenc Rorer. Over his four year tenure the division experienced impressive improvement: the industrial footprint was re-designed with the closure of a plant and new supply chain and planning through MRP was implemented - resulting in a six fold increase in productivity with only marginal investment. José's use of modern management philosophy has been highlighted in many articles and books.

In 1995 Mr Barella joined Rhone Poulenc Agro based in Lyon, France as Global Marketing Manager for herbicides, with responsibility for manufacturing, development and marketing. In 1997 he moved to London as commercial manager responsible for the UK and Ireland covering all sales and marketing activities. In 1999 Rhone Poulenc merged with Hoechst to form Aventis and José was appointed Head of Aventis Environmental Science, based in Frankfurt, Germany. He integrated all the non-crop assets of the crop protection divisions.

During his tenure, he developed and oversaw the implementation of a 10 year strategic plan for the new division including the divestment of non-strategic assets and the acquisition of a US consumer business. During this period the division experienced sales growth of 30% per year reaching over US$ 350 million and EBIT doubled.

In 2001 José joined Merial, the stand alone Animal Health JV of Merck and Aventis, based in Atlanta GA, USA to lead the Companion Animals division. In 2003 he added the role of Head of Global Supply Chain to his area of responsibility and in 2005 became Chief Operating Officer with responsibility for Companion and Production Animals. In 2007 he was appointed CEO of Merial and when in 2011 Merial became the Animal Health Division of Sanofi, José was appointed Senior VP Animal Health and CEO of Merial.

During his 12 years at the Company, Merial grew sales from US$1.5 billion to US$2.8 billion. EBIT increased from US$200 million to US$870 million with Frontline one of the most successful products in the history of Animal Health.

Most recently from April 2013 to December 2015 José joined the Advisory Board of mABxience, a biotech company based in Madrid, Spain with a focus in the development, manufacturing and commercialisation of biosimilars for human health.

In February 2015 he was appointed Chairman of Netafim. Based in Tel-Aviv, Netafim is a world leader in irrigation with a global footprint and sales in excess of US$750 million.

Commenting on Mr Barella's appointment Alan Reade, outgoing Chairman said:

"I have known and worked with José for many years and his industry knowledge, experience and contacts will be invaluable as TyraTech continues to commercialise its technology and ramps-up over the coming years. My intention is to remain with the Company for a couple of months to help smooth the transition at a very important stage in our development. I will then step down and retire, safe in the knowledge that the Board has gained world class leadership. Consequently I will not be offering myself for re-election at the Annual General Meeting. I wish José and all the management team great success over the coming years."

José Barella, Non-executive Chairman added:

"I have been aware of TyraTech for some time. They have developed world class technology with multiple market commercial applications. I am honoured to have been appointed as Chairman and look forward to working with the management team to focus on exploiting the opportunities afforded to us. Alan has left the business in a strong position and I wish him a very happy retirement."

Additional information in relation to José Geraldo Ramalho Barella:

The following information is disclosed pursuant to Schedule Two paragraph (g) of the AIM Rules for Companies:

Current Directorships and Partnerships as at the date of this announcement

NETAFIM Ltd

Directorships held during the past five years

MABxcience S.A.

There are no further disclosures required in accordance with the AIM Rules in relation to José Barella.

*-ends*-

For further information please visit: www.tyratech.com or contact:

 
TyraTech Inc.                                        Tel: +1 919 415 4340 
 Bruno Jactel, Chief Executive Officer                Tel: +1 919 415 4287 
 Erica H. Boisvert, Chief Financial Officer 
SPARK Advisory Partners Limited, Nominated Adviser  Tel: +44 203 368 3551 
 Matt Davis / Mark Brady 
Allenby Capital Limited , Joint Broker              Tel: +44 20 3328 5656 
 Chris Crawford 
Whitman Howard Limited, Joint Broker                Tel: +44 20 7659 1234 
 Ranald McGregor-Smith 
Belvedere Communications (PR)                       Tel: +44 20 3567 0510 
 John West / Kim van Beeck 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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