U.S. Markets closed

Solazyme co-founder and president steps down

SOUTH SAN FRANCISCO, Calif. (AP) -- Biofuels maker Solazyme Inc. says its co-founder is stepping down amid a board shake-up.

The company said Thursday that Harrison Dillon, Solazyme's co-founder and president, will leave his full-time position and begin consulting with the company. He will also be stepping down from Solazyme's board of directors.

William Lese, who is a managing director at energy investment firm Braemar Energy Ventures, also stepped down from the board, the company said.

Solazyme said that it elected James Craigie to its board of directors. Craigie is the chairman and CEO of Church & Dwight Co. Inc., which makes Arm & Hammer baking soda, Trojan condoms and other consumer products.

Craigie's consumer products experience is valuable to Solazyme as it tries to sell its oils to various consumer markets, said Solazyme CEO Jonathan Wolfson.

The company has not been profitable since its May 2011 initial public offering of stock.

Shares of the South San Francisco, Calif.-based company, which makes renewable oils and bio-products, slipped 6 cents to $11.01.