IRVINE, Calif., Jan. 23, 2018 (GLOBE NEWSWIRE) -- ChromaDex Corp. (NASDAQ:CDXC), an integrated, science-based, nutraceutical company devoted to improving the way people age, announced today that it has appointed Mark Friedman as General Counsel and Corporate Secretary, effective immediately.
Friedman is joining ChromaDex from Herbalife Nutrition – a global nutrition company that operates in more than 90 countries worldwide – where he served as Executive Vice President and General Counsel and Counsel to the Executive Chairman since 2013. Prior to that he acted as General Counsel, Senior Vice President, Business Development at pinkberry, Senior Vice President and General Counsel at American Golf Corporation and Senior Counsel and Associate Corporate Secretary for Atlantic Richfield Company and BP.
Robert N. Fried, President and Chief Operating Officer of ChromaDex, stated, “Mark has had very successful experience at top tier companies in consumer products and nutraceuticals. His wide-ranging expertise encompasses food, retail and consumer law, international joint ventures, securities and complex litigation. He is already a very valuable addition to our team. We are proud that he has elected to join us.”
Friedman brings extensive experience advising senior management teams and boards of directors with a proven record of enabling global business growth while protecting company assets. His expertise spans the breadth of intellectual property protection and formation of strategic alliances, to working with regulators and states' attorney generals.
ChromaDex’s Founder and CEO, Frank Jaksch, added, “Mark has proven extremely successful at every endeavor he has undertaken. We are proud to have him join our team.”
“I’m excited to be joining a dedicated and experienced management team, and I’m looking forward to helping the company provide science-based nutraceuticals globally,” Friedman shared.
In connection with his employment, ChromaDex’s Board of Directors granted an inducement award to Mr. Friedman. The inducement award was granted under ChromaDex’s 2017 Equity Incentive Plan, as amended, and consists of a stock option to purchase up to 500,000 shares of the Company's common stock, with a per share exercise price equal to the closing price of the common stock on the grant date of January 22, 2018. The inducement award will vest over three years, with one-third of the underlying shares vesting on the one-year anniversary of the date of grant and 1/36th of the underlying shares vesting monthly thereafter over 24 months. ChromaDex’s Board of Directors approved the award on January 21, 2018 as an inducement material to Mr. Friedman’s employment in accordance with NASDAQ Listing Rule 5635(c)(4).
For more information on ChromaDex, visit: https://www.ChromaDex.com/.
ChromaDex Corp. is an integrated, global nutraceutical company devoted to improving the way people age. ChromaDex scientists partner with leading universities and research institutions worldwide to uncover the full potential of NAD+ and identify and develop novel, science-based ingredients. Its flagship ingredient, NIAGEN® nicotinamide riboside, sold directly to consumers as TRU NIAGEN®, is backed with clinical and scientific research, as well as extensive IP protection. TRU NIAGEN® is helping the world AGE BETTER®. To learn more about ChromaDex, please visit www.ChromaDex.com.
This release contains forward-looking statements relating to ChromaDex and ChromaDex’s business within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, including statements related to the capabilities of Mr. Friedman to help the global growth and expansion of the TRU NIAGEN® brand. Statements that are not a description of historical facts constitute forward-looking statements and may often, but not always, be identified by the use of such words as "expects", "anticipates", "intends", "estimates", "plans", "potential", "possible", "probable", "believes", "seeks", "may", "will", "should", "could" or the negative of such terms or other similar expressions. More detailed information about ChromaDex and the risk factors that may affect the realization of forward-looking statements is set forth in ChromaDex's Annual Report on Form 10-K for the fiscal year ended December 31, 2016, ChromaDex's Quarterly Reports on Form 10-Q and other filings submitted by ChromaDex to the SEC, copies of which may be obtained from the SEC's website at www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and actual results may differ materially from those suggested by these forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement and ChromaDex undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.
ChromaDex Investor Relations Contact:
Andrew Johnson, Director of Investor Relations
ChromaDex Public Relations Contact:
Breah Ostendorf, Director of Marketing