THE WOODLANDS, Texas, October 1, 2018 /PRNewswire/ --
RiceBran Technologies (RIBT) and (RIBTW) ("RBT"), a global leader in the production and marketing of value added products derived from rice bran, today announced that the Company has completed its previously announced management transition plan.
As part of the completion of that plan, Brent Rystrom has assumed the role of President, Chief Executive Officer and member of the Board of Directors of RiceBran Technologies effective today, replacing Dr. Robert Smith who stepped down from that position effective September 30, 2018. Dennis Dykes, succeeded Mr. Rystrom as Chief Financial Officer and has assumed the additional role of Corporate Secretary.
The Company also appointed Mr. David Chemerow as a member of its Board of Directors effective October 1, 2018. Mr. Chemerow brings extensive corporate governance and financial management experience to RiceBran Technologies. He is currently a member of the Board of Directors at Dunham's Athleisure Corp., and served for 15 years as a board member at Playboy Enterprises, Inc., culminating with his role as Non-Executive Chairman prior to its acquisition by Icon Acquisition Holdings, L.P. in 2011. Mr. Chemerow has held numerous key executive roles in both public and private companies during his distinguished career where he garnered significant expertise managing early stage growth companies, conducting mergers, acquisitions, turnarounds and divestitures, and developing long term corporate growth strategies. He is a graduate of Dartmouth College and holds an MBA from The Amos Tuck School.
Brent Rosenthal, Chairman of the Board, stated, "I would like to thank Mr. Rystrom, Mr. Dykes and Dr. Smith for their efforts over the past three months in completing this seamless management transition. We look forward to our Company's successful future under the leadership of Brent Rystrom and Dennis Dykes. We are also pleased to welcome David Chemerow to our Board of Directors. David brings a wealth of experience in all aspects of achieving successful business growth which will prove invaluable to our company as we work to build long term value for our stockholders."
About RiceBran Technologies
RiceBran Technologies is a specialty ingredient company servicing the food, animal nutrition, and specialty ingredient products markets. We utilize our proprietary and patented intellectual property to convert rice bran, one of the world's most underutilized food sources, into a number of highly nutritious and clean label ingredient products. The global target markets for our products include food and animal nutrition manufacturers and retailers, as well as specialty food, functional food and nutritional supplement manufacturers and retailers. More information can be found in the Company's filings with the SEC and by visiting our website at http://www.ricebrantech.com .
This release contains forward-looking statements, including, but not limited to, statements about RiceBran Technologies' expectations regarding growing its business and maximizing shareholder value. RiceBran Technologies does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information. Assumptions and other information that could cause results to differ from those set forth in the forward-looking information can be found in RiceBran Technologies' filings with the Securities and Exchange Commission, including its most recent periodic reports.
Ascendant Partners, LLC