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5 July 2022
Itaconix plc
("Itaconix" or the “Company”)
Board Changes
Itaconix (AIM: ITX) (OTCQB: ITXXF), a leading innovator in plant-based specialty polymers used as essential ingredients in everyday consumer products, announces changes to the Board.
Dr. James Barber has stepped down as Chair and Non-Executive Director of the Board with immediate effect. Dr. Barber served as a Non-Executive Director of Itaconix plc since 2016 and Chair since 2018. He also served as a Director of Itaconix Corporation from 2012 to 2016.
Dr. Peter Nieuwenhuizen is appointed to the Board as a Non-Executive Director and Interim Chair with immediate effect. He is a Founding Partner of the European Circular Bioeconomy Fund ("ECBF”), a €300 million venture capital fund dedicated to the circular bioeconomy. He serves as Chair of the Green Chemistry and Commerce Council, as Board member of PeelPioneers B.V. and In Ovo Holding B.V., and as an advisor to Solugen LLC and to Cosun (Coöperatie Koninklijke Cosun U.A.). Prior to co-founding ECBF, Peter was CTO & Corporate Director RD&I & Sustainability for AkzoNobel Specialty Chemicals (now Nouryon B.V.) and CTO of Enerkem Inc. He earned his Ph.D. in Chemistry from Leiden University.
As a result, the Board now comprises Dr. Nieuwenhuizen (Non-Executive Interim Chairman) and John R. Shaw (Chief Executive Officer). The Company is actively working on further Board appointments, to include recruitment of an additional independent non-executive director.
John R. Shaw, CEO, commented on Dr. James Barber:
"Jim has provided a decade of valuable direction and guidance as a director and later chair of the Company. His unique blend of business acumen, corporate leadership, and chemical expertise contributed greatly to the strategies for our technology platform, to the development of our current products and customer base, and to navigating the many twists and turns of a high-growth company. We greatly appreciate his years of service and his many contributions to Itaconix."
Commenting on Dr. Peter Nieuwenhuizen, John added:
"I am very pleased to welcome Peter to our Board. He is a passionate international leader in the technical and environmental aspects of sustainability and has devoted much of his career to developing products and businesses for the Low-Carbon Economy. He also has a deep understanding of Itaconix, the value of our products, and the commercial potential for our technology platform through our years of working together on several major initiatives when he was CTO of AkzoNobel Specialty Chemicals."
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