Sacramento / CA. (rbt) RiceBran Technologies, a global leader in the production and marketing of value added products derived from rice bran, announced that Dr. Robert Smith has informed the Board of Directors of his intention to step down as President, Chief Executive Officer, and a member of the Board of Directors on September 30, 2018. He will continue his service to RiceBran Technologies providing transitional leadership assistance and overseeing scientific initiatives through his retirement from RBT on December 31, 2018.
The Board of Directors has appointed Brent Rystrom, the Company’s current Executive Vice President, Chief Operating Officer and Chief Financial Officer, to succeed Dr. Smith as President and Chief Executive Officer, effective October 1, 2018. The Board also announced the promotion of Dennis Dykes, RBT’s current Chief Accounting Officer, to succeed Rystrom as Executive Vice President and Chief Financial Officer. Dykes will also serve as Corporate Secretary.
Brent Rosenthal, Chairman of the Board, stated, «The Board thanks Dr. Smith for his many valuable contributions during his years with RiceBran Technologies, and especially during his two year tenure as CEO. He has successfully executed our strategic plan to reposition the Company and enable RiceBran Technologies to now focus on the ingredients industry, supported by a strong balance sheet that positions us to grow and scale the business. The Board looks forward to a seamless transition as it promotes Brent Rystrom and Dennis Dykes to their new responsibilities. Brent Rystrom and Dennis Dykes have demonstrated leadership skills and are well qualified to lead the Company going forward».
Commenting on his new role as CEO, Brent Rystrom stated, «I am excited to take on the role of CEO in October and to build on the success that Robert has achieved for our company. I am confident that our whole team at RiceBran Technologies can deliver exceptional growth in the coming years in order to create lasting value for our stockholders. I look forward to working with Robert and Dennis through this management transition as well as leading this company toward its promising future».
Dr. Smith also commented, «During my two year tenure as CEO, the RiceBran team has accomplished significant achievements and is now well positioned to advance its strategic plan for the future. Prior to my assuming the role of CEO, I spent the majority of my career in R+D and product development, and it is my desire to return to those activities after my departure at the end of the year. I look forward to working Brent, Dennis and the entire RBT team to achieve a smooth transition and thank the Board for the trust and confidence it placed in me during my tenure as CEO».
