SAN FRANCISCO--(EON: Enhanced Online News)--TerraVia (NASDAQ: TVIA), a pioneer in algae innovation and a food, nutrition and specialty ingredients company, announced today that co-founder, Chairman and previous Chief Executive Officer Jonathan Wolfson has informed the Company’s Board of Directors that after more than thirteen years in a leadership role, he is stepping down as Chairman of the Board, effective immediately. The Board has appointed Irene Chang Britt, a food industry veteran and current Board member, as the new Chairperson of the TerraVia Board of Directors.
“TerraVia’s platform of algae ingredients is uniquely positioned to address the increasing global demand for better nutrition and sustainability.”
Britt, former President of Pepperidge Farm, has a deep food industry background that includes key operating roles at Campbell Soup Company, Kraft Foods, and Nabisco. She joined TerraVia’s Board of Directors a year ago as we announced our transition to a food, nutrition and specialty ingredients company.
Mr. Wolfson has agreed to remain on the Board. “Irene is a rock-star in the food world and I am thrilled to be handing her the reins as Board Chair, she is exactly what we need moving forward,” said Mr. Wolfson.
“The perspective Irene has brought as a food industry veteran has been invaluable to the Board and to the Company,” said Apu Mody, CEO of TerraVia. “I’m looking forward to working more closely with Irene in her new role and delighted that Jonathan has agreed to remain on the Board.”
“I look forward to taking on the Chairperson role and lending my expertise as TerraVia focuses on food, nutrition and specialty ingredients,” said Irene Chang Britt. “TerraVia’s platform of algae ingredients is uniquely positioned to address the increasing global demand for better nutrition and sustainability.”
TerraVia Holdings, Inc. is a plant-based food, nutrition and specialty ingredients company that harnesses the power of algae, the mother of all plants and earth's original superfood. With a portfolio of breakthrough ingredients and manufacturing, the Company is well positioned to help meet the growing need of consumer packaged goods and established and emerging food manufacturers to improve the nutritional profile of foods without sacrificing taste, and to develop select consumer brands. The Company also manufactures a range of specialty personal care ingredients for key strategic partners. Headquartered in South San Francisco, the Company's mission is to create products that are truly better for people and better for the planet. For additional information, please visit TerraVia's website at www.terravia.com.
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about TerraVia, including statements that involve risks and uncertainties concerning the attributes of TerraVia’s technology and products, including as to meeting demand for better nutrition and sustainability; and market acceptance of products. When used in this press release, the words "will", "expects", "intends" and other similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any such statement may be influenced by a variety of factors, many of which are beyond the control of TerraVia, that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this press release due to a number of risks and uncertainties. Potential risks and uncertainties include, among others: TerraVia's limited operating history; its limited history commercializing products; implementation risk in deploying new technologies and operating in new or modified business areas; delays related to start-up and ramp-up of production facilities and new products; commercial risk in deploying new products; and its access, on favorable terms, to any required financing. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of TerraVia.
In addition, please refer to the documents that TerraVia Holdings, Inc. files with the Securities and Exchange Commission, including its Quarterly Reports on Forms 10-Q and its Annual Report on Form 10-K, as updated from time to time, for a discussion of these and other risks. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. TerraVia is not under any duty to update any of the information in this press release.