MIGDAL HA'EMEQ, Israel, Jan. 2, 2014 (GLOBE NEWSWIRE) -- Enzymotec Ltd. (Nasdaq:ENZY), a developer, manufacturer and marketer of innovative bio-functional lipid ingredients, announced today that it has appointed Steve Dubin as Chairman of its board of directors, effective January 1, 2014.
The Company also announced that Yoav Doppelt has been appointed as Vice Chairman of the board. Mr. Doppelt has served as Chairman of Enzymotec's board of directors since October 2011 and as a director since 2001. He will continue to be an actively involved board member and will assist Mr. Dubin during the transition process.
Yoav Doppelt commented, "We are very pleased that Mr. Dubin has agreed to lead our board. His intellect, depth of business knowledge and proven leadership skills have already made many valuable contributions since he joined Enzymotec's board, and we look forward to his further assistance in augmenting our growth strategies. We believe that his wealth of nutritional expertise will both support our commitment to providing our customers with the highest quality products and to enhancing the market leadership of Enzymotec."
Steve Dubin said, "Enzymotec's industry reputation, solid product portfolio and focus on innovation position the Company as a recognized global leader in the large and growing nutritional markets. I am grateful to the board of directors for the opportunity, and I am excited to work further with the talented and dedicated Enzymotec team."
Steve Dubin has served as Vice Chairman of Enzymotec's board of directors since April 2013. Since November 2011, Mr. Dubin has been a Principal in SDA Ventures LLC, a firm focused on assisting emerging growth and middle-market companies, primarily in the health and wellness and nutritional products markets, on matters including corporate development, business acquisitions, customer relations, growth strategies and corporate finance. Mr. Dubin also acts as a Senior Advisor to Paine & Partners, LLC, a global private equity investment firm, helping to identify and to execute investment opportunities in the global human and animal food and nutritional products industries. From 2006 until its acquisition by Royal DSM N.V. in February 2011, Mr. Dubin served as Chief Executive Officer and a member of the board of directors of Martek Biosciences Corporation. He also served as President of DSM's Nutritional Lipids Division immediately after DSM's acquisition of Martek and as a Senior Advisor to DSM Nutritional Products from 2011 through October 2012. Having joined Martek in 1992, he held various management positions, including Chief Financial Officer, Treasurer, Secretary, General Counsel and Senior Vice President, Business Development, as well as President of Martek from 2003 to 2006. Mr. Dubin is a co-founder and co-manager of a Maryland-based, angel-investing club. Mr. Dubin currently serves as a member of the board of several privately held companies, including The Brain Center, LLC, MyCell Technologies and its subsidiary Oceans Omega LLC, and Alcresta, Inc. Prior to that, he was a member of the board of directors of Scerene Healthcare, Inc. Mr. Dubin holds a bachelor's degree in accounting from the University of Maryland and a Juris Doctor degree from the National Law Center at George Washington University. He is a certified public accountant and a member of the Maryland Bar.
About Enzymotec Ltd.
Enzymotec is a leading global supplier of specialty lipid-based products and solutions. The Company develops, manufactures and markets innovative bio-functional lipid ingredients, as well as final products, based on sophisticated processes and technologies. For more information, visit www.enzymotec.com.
Forward Looking Statement
This release may contain forward-looking statements, which express the current beliefs and expectations of Company management. Such statements involve a number of known and unknown risks and uncertainties that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences the following risks: a high proportion of the sales of our InFat product is sold to end users by a single company in China; we rely on our Swedish joint venture partner to manufacture InFat, and certain matters related to the joint venture are or, based on communications from our joint venture partner, are the subject of disagreement; our gross profits may be adversely affected if we are only able to obtain lower quality krill meal; our ability to obtain krill may be affected by conservation regulation or initiatives; we are dependent on a single facility that houses the majority of our operations; we may not be able to expand our production or processing capabilities or satisfy growing demand; our product development cycle is lengthy and uncertain, and our development or commercialization efforts for our products may be unsuccessful; we are subject to significant and increasing government regulations regarding the sale and marketing of our products; we may not be able to protect our proprietary technology or prevent its unauthorized use by third parties; we are currently subject to litigation, and in the future may become subject to additional litigation, regarding intellectual property rights; and other factors discussed under the heading "Risk Factors" in the Company's final prospectus for its initial public offering filed with the Securities and Exchange Commission on September 30, 2013. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: ICR, LLC Katie Turner 646-277-1228 -or- John Mills 310-954-1105 John.Mills@icrinc.comSource:Enzymotec Ltd.