ADDING MULTIMEDIA Socati Board of Director Appointments Bring Significant Leadership Experience to Accelerate Company Growth, Advance Hemp IndustrySource: Business Wire
New board members from
, Amgen , Chiquita bring decades of leadership in high-potential CBD markets, including food, consumer packaged goods and pharmaceuticals Oracle
- Appointments follow acquisition of major processing facility, enabling large-scale production, product purity and quality of broad-spectrum hemp extracts
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The appointments help further position Socati as an industry leader that has developed proprietary technologies and large-scale production capabilities to meet the rapidly expanding market demand for high-quality, hemp-derived ingredients, including CBD and other cannabinoids.
The new board members are:
Edward Lonergan, former president and CEO of Chiquita Brands International Inc.(NYSE:CQB) and of Diversey Inc.He was president of Gillette Europe from 2002-2006 and spent more than 20 years before that in management at Procter & Gamble(NYSE:PG). Lonergan serves as executive chairman of Zep. Inc., chairman of DRB Systems and on the board of (NYSE: OC). He also is a senior adviser at Owens Corning New Mountain Capital.
Jonathan Peacock, former chief financial officer of Amgen Inc.(NASDAQ: AMGN) and former CFO of the pharmaceuticals division of (NYSE: NVS). Before joining the pharmaceuticals industry, Peacock was a partner at Novartis AG McKinsey and Co., where he was co-head of the European Corporate Finance practice. Earlier, he was a partner at Price Waterhouse in Londonand New York. He also serves as chairman of Arix Bioscience(LSE: ARIX), chairman of (NASDAQ:BLPH) and chairs the audit and finance committee of Bellerophon Therapeutics (NYSE:AVTR). Avantor Inc.
Lorne Abony, CEO of FastForward Innovations Ltd., an early-stage venture capital firm. He has raised more than $1.3 billionthrough the public and private debt and equity markets and is the former CEO of Mood Media Corp.and FUN Technologies. Both of which, under his leadership, were listed on the London Stock Exchangeand Toronto Stock Exchange.
Eric Ball, general partner at Impact Venture Capital. He previously served as treasurer at Oracle(NYSE:ORCL), one of the world’s largest technology companies. He also chairs the audit committee at Glu Mobile, a publicly traded leader in 3D freemium mobile gaming.
“To build the future we envision for Socati, we have always known we
would need proven leaders who share our vision for the growth potential
of this industry,” Socati CEO
The board appointments follow Socati’s recent acquisition of Blue Marble Biomaterials, a manufacturer of natural and sustainable specialty compounds for the global food, fragrance and cosmetic sectors.
Blue Marble’s 22,000-square-foot
Socati is a leading processor of broad-spectrum hemp extracts. The
company provides a top-quality and consistent product for a market
projected to reach