MIGDAL HA'EMEQ, Israel, Aug. 29, 2014 (GLOBE NEWSWIRE) -- Enzymotec Ltd. (Nasdaq:ENZY) (the "Company") today announced that it has expanded its management team with the appointment of five new hires in key organizational roles.
Dr. Ariel Katz, President and Chief Executive Officer of Enzymotec Ltd., commented, "the Company has established strong technology base and we recognized the importance of investing in our human capital to position us to further develop customer relationships and expand our global footprint. We are very excited about the newest additions to our management team and look forward to their contributions as we leverage their diverse experience across a number of markets and industries."
- Mr. Rob Crim joins the Company as CEO of VAYA Pharma USA. Mr. Crim brings significant experience in the healthcare industry, including a consistent track record of accelerating growth of nutrition and Healthcare/OTC businesses in diverse environments across a number of global markets. From 2004 to 2010, he held positions of increasing responsibility at Danone/Numico. From 2008 to 2010, he served as Regional Vice President – North America and Global Business Development, in which he developed a transformational North American growth strategy via expanded category and channel access and initiated innovative partnerships with major pharmaceutical companies to drive specialty nutrition growth. At Danone, Mr. Crim was also General Manager of the SHS business, a high growth, high margin global specialty nutrition business with over $350 million in sales. In addition to accelerating growth, he developed a robust R&D pipeline by initiating programs for new nutritional disease states. Prior to joining Danone/Numico, from 1994 to 2004, Mr. Crim held positions at Abbott – Ross Product Division, including serving as Vice President – Consumer Nutritionals & OTC Products. During his tenure at Abbott, Mr. Crim developed the Company's overall nutrition strategy to include diabetic nutritionals and private label products. He also led the development of trade channel initiatives to expand key retailer relationships, among other responsibilities. Prior to joining Abbott, Mr. Crim held positions at Johnson & Johnson Consumer Products and Proctor and Gamble. Most recently, Mr. Crim has served as an independent consultant assisting healthcare companies to develop business and financial plans. He received his M.B.A from University of Michigan School of Business and his B.A. in Government from Harvard University.
- Mr. Yariv Gratz joins the Company as Vice President – Operations. Mr. Gratz brings significant international senior management experience. He most recently served as Director of Operations at Nilit where he was responsible for managing manufacturing facilities in Israel and China. He also managed the global engineering and projects department and the industrial engineering unit, overseeing a total of 650 employees. In addition, he was responsible for managing two joint-ventures with U.S.-based companies. Prior to this position, he served as Vice President – Operations for MIS – Israel, where he managed production, purchasing, warehouse and distribution as well as their assimilated ERP systems. Prior to this role, he held positions at Sanmina SCI, EIL – Electrochemical Industries and Gadot Bio Chem . He received his M.B.A. from Herriot Watt and B.Sc. in Chemical Engineering from The Technion - Israel Institute of Technology.
- Mr. Itay Dromi joins the Company as Vice President – Human Resources. Mr. Dromi brings over 20 years of global experience in human resources and organizational management. Prior to joining Enzymotec, Mr. Dromi served in multiple senior human resource positions at Teva Pharmaceutical Ltd., including as Vice President – Human Resources TGO Asia Region, overseeing their human resources operations in India, China and Japan, and as Vice President – Human Resources of the Chemical Division, overseeing the human resources for the division's 5,000 employees in 21 locations. Mr. Dromi previously held human resource positions at Ultrashape and Delta Galil Industries. He received his M.B.A. from Bar Ilan University and an M.A. in Public Administration from the University of Haifa.
- Mr. Ariel Blumovich joins the Company as Vice President – Business Development. Mr. Blumovich brings extensive experience in business development with global work experience across three different continents. Most recently, Mr. Blumovich served as Global Business Development Manager at Samsung, in which role he executed high growth deals in the pharmaceutical and hi-technology business segments, including multinational joint-ventures, licensing, sales agreement and strategic alliances. Prior to joining Samsung, Mr. Blumovich held positions at Sanofi-Aventis, Teva Pharmaceutical Industries Ltd. and Israeli Electric Corp. He received his M.B.A. from The Tuck School of Business at Dartmouth College and his B.Sc, Mechanical Engineering from The Technion – Israel Institute of Technology.
- Mr. Shachar Carmi joins the Company as Vice President – Sales, Nutrition Division. Mr. Carmi brings significant experience in working with customers, distribution channels, and suppliers in Israel and in international markets. Prior to joining the Company, from 2009 to June 2014, he served as Vice President – Sales and Marketing at Biobee Sde Eliyahu, a leading producer of bumble bees for natural pollination and beneficial insects used in agriculture as an alternative to chemical pesticides with responsibility for the sales and marketing of all the company's products and for developing and executing short and long term sales and marketing plans. From 2007 to 2009, Mr. Carmi served as Product Manager at Hazera Genetics, a leading breeder and supplier of vegetable seeds. Prior to that, he held positions at Milestone Agriculture, Inc. and Click Software. He received his B.Sc. in Industrial Engineering from Tel Aviv University.
Dr. Katz added, "I would like to thank Dr. Tzafra Cohen and Ms. Naama Zamir, who recently left us, for their years of dedication and contribution to the Company, and look forward to working with the management team to further execute the Company's strategic growth objectives."
About Enzymotec Ltd.
Enzymotec Ltd. is a leading global supplier of specialty lipid-based products and solutions. The Company develops, manufactures and markets innovative bio- active lipid ingredients, as well as final products, based on sophisticated processes and technologies. For more information, visit www.enzymotec.com.
Forward Looking Statements
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: we depend on third parties to obtain raw materials, in particular krill, necessary for the production of our products; a high proportion of the sales of our INFAT® product is sold to end users by a single company in China; we are subject to a degree of customer concentration and our customers do not enter into long-term purchase commitments with us; we may be required to pay royalties on sales of our krill products in North America and Australia; we have in the past, and may in the future, become subject to litigation regarding intellectual property rights or other matters; our offering of products as ''medical foods'' in the United States may be challenged by regulatory authorities; we rely on our Swedish joint venture partner to manufacture INFAT®, and have recently entered into an arbitration proceeding with our partner with respect to certain matters related to the joint agreement; we are dependent on a single facility that houses the majority of our operations; we may be impacted by delays in manufacturing as we expand our capacity; we may not be able to expand our production or processing capabilities or satisfy growing demand; 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; our product development cycle is lengthy and uncertain, and our development or commercialization efforts for our products may be unsuccessful; we and our customers are subject to significant and increasing government regulations regarding the sale and marketing of our products and our customers' products incorporating our products; we may not be able to protect our proprietary technology or prevent its unauthorized use by third parties; and other factors discussed under the heading "Risk Factors" in the Company's Form 20-F filed with the Securities and Exchange Commission on February 13, 2014. 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.