Danimer Scientific Announces New Directors
January 18 2024 - 4:30PM
Business Wire
Dr. David Moody and Richard Altice to Join the
Danimer Board
Danimer Scientific, Inc. (NYSE: DNMR) (“Danimer” or the
“Company”), a leading, next-generation bioplastics company focused
on the production of biodegradable materials, is pleased to
announce that Dr. David Moody and Mr. Richard Altice have been
appointed as members of Danimer’s Board of Directors. Dr. Moody’s
appointment is effective immediately, and Mr. Altice’s appointment
is effective as of April 15, 2024.
Dr. David J. Moody currently is a member of the Board of
Directors of Jadex Inc., a US-based manufacturing and material
science company utilizing innovation and technology to develop
sustainable products that serve the medical, industrial and
consumer markets. Dr. Moody previously served as Chief Executive
Officer of Jadex from March 2021 through July 2023, and before that
served in various roles of increasing responsibility at Milliken
& Company culminating in the role of Executive Vice President
and Division President, Chemicals. Dr. Moody has over thirty years’
experience managing chemical and polymer related businesses in
various leadership roles and holds a Bachelor of Science in
Chemistry from Wofford College and a Ph.D. in Chemistry from the
Georgia Institute of Technology.
Richard N. Altice most recently retired from NatureWorks, a
developer and manufacturer of biopolymers (polylactic acid), where
he served as President and CEO for five years. Prior to
NatureWorks, Mr. Altice was the Senior Vice President and President
of PolyOne’s Designed Structures and Solutions, a polymer and
plastics converting and food packaging business, formerly known as
Spartech. Additionally, Mr. Altice was Vice President of Hexion’s
Global Specialty Epoxy resin business and was formerly the
President of Solutia’s Technical Specialties division, responsible
for the global rubber chemicals and specialty fluids businesses.
Mr. Altice has over thirty years of sales, marketing, operational
and management experience in the specialty chemicals and biopolymer
industries and holds a Bachelor of Science in Chemical Engineering
from the Missouri University of Science and Technology.
With these changes, Danimer’s Board will be comprised of eleven
directors.
“We are honored to have David and Rich join our Board of
Directors,” said Stephen Croskrey, Chief Executive Officer and
Chairman of the Board. “Each brings valuable perspectives and
experience to our Company as our proprietary biobased and
biodegradable polymer, Nodax®, finds increasing applications in the
market and we seek to rapidly grow our business.”
John Amboian, Lead Independent Director and Chairman of
Danimer’s Nominating and Corporate Governance Committee, said,
“David and Rich’s appointments are the culmination of a robust
search process. We believe they bring the right mix of skills,
perspectives, and industry-specific experience that will help
Danimer execute its strategic plan and achieve its goals.”
About Danimer Scientific
Danimer is a pioneer in creating more sustainable, more natural
ways to make plastic products. For more than a decade, its
renewable and sustainable biopolymers have helped create plastic
products that are biodegradable and compostable and return to
nature instead of polluting our lands and waters. Danimer’s
technology can be found in a vast array of plastic end products
that people use every day. Applications for its biopolymers include
additives, aqueous coatings, fibers, films and injection-molded
articles, among others. Danimer holds more than 430 granted patents
and pending patent applications in more than 20 countries for a
range of manufacturing processes and biopolymer formulations. For
more information, visit https://danimerscientific.com.
Forward‐Looking Statements
Please note that in this press release we may use words such as
“appears,” “anticipates,” “believes,” “plans,” “expects,”
“intends,” “future,” and similar expressions which constitute
forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include, without limitation, statements
regarding our expectations for full year capital expenditures,
Adjusted EBITDA and cash balances. Forward-looking statements are
made based on our expectations and beliefs concerning future events
impacting the Company and therefore involve a number of risks and
uncertainties. We caution that forward-looking statements are not
guarantees and that actual results could differ materially from
those expressed or implied in the forward-looking statements.
Potential risks and uncertainties that could cause the actual
results of operations or financial condition of the Company to
differ materially from those expressed or implied by
forward-looking statements in this release include, but are not
limited to, the overall level of consumer demand on our products;
general economic conditions and other factors affecting consumer
confidence, preferences, and behavior; disruption and volatility in
the global currency, capital, and credit markets; the financial
strength of the Company's customers; the Company's ability to
implement its business strategy, including, but not limited to, its
ability to expand its production facilities and plants to meet
customer demand for its products and the timing thereof; risks
relating to the uncertainty of the projected financial information
with respect to the Company; the ability of the Company to execute
and integrate acquisitions; changes in governmental regulation,
legislation or public opinion relating to our products; the
Company’s exposure to product liability or product warranty claims
and other loss contingencies; disruptions and other impacts to the
Company’s business, as a result of the COVID-19 global pandemic and
government actions and restrictive measures implemented in
response; stability of the Company’s manufacturing facilities and
suppliers, as well as consumer demand for our products, in light of
disease epidemics and health-related concerns such as the COVID-19
global pandemic; the impact on our business, operations and
financial results from the ongoing conflict in Ukraine; the impact
that global climate change trends may have on the Company and its
suppliers and customers; the Company's ability to protect patents,
trademarks and other intellectual property rights; any breaches of,
or interruptions in, our information systems; the ability of our
information technology systems or information security systems to
operate effectively, including as a result of security breaches,
viruses, hackers, malware, natural disasters, vendor business
interruptions or other causes; our ability to properly maintain,
protect, repair or upgrade our information technology systems or
information security systems, or problems with our transitioning to
upgraded or replacement systems; the impact of adverse publicity
about the Company and/or its brands, including without limitation,
through social media or in connection with brand damaging events
and/or public perception; fluctuations in the price, availability
and quality of raw materials and contracted products as well as
foreign currency fluctuations; our ability to utilize potential net
operating loss carryforwards; and changes in tax laws and
liabilities, tariffs, legal, regulatory, political and economic
risks. More information on potential factors that could affect the
Company's financial results is included from time to time in the
Company's public reports filed with the Securities and Exchange
Commission, including the Company's Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.
All forward-looking statements included in this press release are
based upon information available to the Company as of the date of
this press release and speak only as of the date hereof. We assume
no obligation to update any forward-looking statements to reflect
events or circumstances after the date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20240118429116/en/
Investors Blake Chamblee ir@danimer.com Media Richard Ivey
richardivey@danimer.com
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