Amyris CEO John Melo resigns, announces job cuts
The company also announced a global reduction in force as an important step towards its previously announced cost reduction targets.
Amyris, Inc., a leading synthetic biotechnology company accelerating the world's transition to sustainable consumption through its Lab-to-Market technology platform and clean beauty consumer brands, today announced that John Melo has resigned from his role as President & Chief Executive Officer and a member of the Board of Directors, effective immediately. The Company's Board of Directors has appointed Han Kieftenbeld as Interim Chief Executive Officer. Kieftenbeld will remain as the Company's Chief Financial Officer. The Company also announced a global reduction in force as an important step towards its previously announced cost reduction targets.
"John's dedication and leadership were instrumental in the evolution of Amyris' Lab-to-Market technology platform and the development of our diversified consumer brands portfolio. On behalf of the Board of Directors, I sincerely thank John for his many contributions over the last 16 years," said Geoffrey Duyk, Board Chair of Amyris. "We have utmost confidence in Han's ability to lead Amyris as Interim Chief Executive Officer through this critical period of transformation."
As announced earlier this month, the Company has engaged the Business Recovery Services unit of PricewaterhouseCoopers (PwC) to guide its transformation efforts. As part of this process, the Company aims to deliver Fit-to-Win cost actions of approximately $250 million. This effort includes optimizing the costs of goods sold, reducing operating expenses and streamlining the business portfolio.
"We are making tough choices including the decision to implement a reduction in force which we are executing today. We thank our departing employees for their efforts, dedication and contributions to Amyris," said Han Kieftenbeld, Interim Chief Executive Officer and Chief Financial Officer of Amyris. "I want to thank the Board for placing confidence in me to lead Amyris through this next phase. I will work closely with my leadership team and colleagues globally to set out a path towards profitable growth and sustained cash generation."
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