— Board Also Elects George F.J. Gosbee To Serve As Chair —
DAVIS, Calif. (June 13, 2016) – Arcadia Biosciences, Inc. (Nasdaq: RKDA), an agricultural technology company that creates value for farmers while benefitting the environment and enhancing human health, announced today that Eric J. Rey and Gregory D. Waller have joined its board of directors. The two were elected at the company’s annual stockholders meeting to replace directors Vic Knauf, Ph.D., and Rajiv Shah, M.D.
Additionally, the board of directors formally elected George F.J. Gosbee as its chair. Gosbee has served as interim chair of the board since November 2016.
“We are fortunate to have Eric and Greg join the board, two directors with the experience, and industry insight needed to help Arcadia grow the business,” said George Gosbee, chair of the board of directors. “I would also like to thank Vic Knauf and Raj Shah for their service and contributions to the board.”
Rey is one of the founders of Arcadia Biosciences and served as president and CEO, as well as a director, until 2016. Prior to founding Arcadia, Rey was a partner with Rockridge Group, a management consulting firm for early-stage companies developing genomic, biopharmaceutical, nutraceutical, crop protection, animal nutrition and health, alternative crop and industrial products. He previously served as vice president of operations with Calgene, Inc., including two years with Monsanto Company following its acquisition of Calgene. Rey holds a B.S. in plant science from the University of California, Davis. He currently serves as a director for Phytelligence, Inc. and Texas Crop Science, LLC.
Waller is the former chief financial officer (CFO) of Ulthera Corporation, a privately-held company providing ultrasound technology for aesthetic and medical applications, which was acquired by Merz North America in 2014. Previously, Waller was CFO of Universal Building Products and Sybron Dental Specialties, Inc., and vice president and treasurer of Kerr, Ormco Corporation, and Metrex. Waller has an MBA with a concentration in accounting from California State University, Fullerton. He has extensive experience serving on the boards of public companies and currently serves as a director for Sunshine Heart and Endologix Corporation.
About Arcadia Biosciences, Inc. Based in Davis, Calif., Arcadia Biosciences (Nasdaq: RKDA) develops agricultural products that create added value for farmers while benefitting the environment and enhancing human health. Arcadia’s agronomic performance traits, including Nitrogen Use Efficiency, Water Use Efficiency, Salinity Tolerance, Heat Tolerance and Herbicide Tolerance, are all aimed at making agricultural production more economically efficient and environmentally sound. Arcadia’s nutrition traits and products are aimed at creating healthier ingredients and whole foods with lower production costs. For more information, visit www.arcadiabio.com.
Note Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to: the company’s expectations of Eric Rey’s and Greg Waller’s potential contributions as members of the company’s board of directors and the other risks set forth in the company’s filings with the Securities and Exchange Commission from time to time, including the risks set forth in the company’s annual report on Form 10-K for the year ended December 31, 2016 and other filings. These forward-looking statements speak only as of the date hereof, and Arcadia Biosciences, Inc. disclaims any obligation to update these forward-looking statements.