Origin Materials Announces Transition to Single CEO Leadership Structure Under John Bissell

0
Origin Materials Announces Transition to Single CEO Leadership Structure Under John Bissell

— Co-Founder and Co-CEO John Bissell to Serve as Origin’s Chief Executive Officer —

— Rich Riley to Step Down as Co-CEO and from Board, Hold Advisory Role Through End of 2025 —

WEST SACRAMENTO, Calif., December 17, 2024–(BUSINESS WIRE)–Origin Materials (“Origin”) (NASDAQ: ORGN, ORGNW), a technology company with a mission to enable the world’s transition to sustainable materials, today announced that Origin Co-Founder and Co-CEO John Bissell will serve as Chief Executive Officer, effective December 31. Rich Riley will step down from his role as Co-CEO and from the Origin Board, effective December 31, and will remain at the Company in an advisory role through the end of 2025 to ensure a smooth and successful transition. Effective December 31, Origin CFO Matt Plavan will take on the additional role of Chief Operating Officer.

“I want to thank Rich for his valuable contributions to Origin these past four years,” said Bissell. “During Rich’s tenure, Origin became a publicly listed company, and he was instrumental in positioning Origin for our next phase of growth. We believe now is the right time to transition to a single CEO structure, which will enable quick and nimble operations as we expand our manufacturing activities in 2025. We look forward to a smooth and orderly transition ahead.”

Riley, who joined Origin as Co-CEO in 2020, helped steer the company’s commercial efforts and go-to-market strategy. Riley has been an advisor to and investor in Origin since 2010.

“I am extremely proud to have served Origin partners and shareholders during my time at the company alongside John and our amazing team,” said Riley. “We created a strong foundation together and, with our PET caps and closures business now positioned for rapid and sustained growth, I believe Origin has a bright future ahead.”

“On behalf of the Board, I would like to thank Rich for his contributions to Origin,” said Board Chair R. Tony Tripeny. “Looking ahead to Origin’s future, we are excited for John, Matt and the leadership team to continue driving the company forward to unlock tremendous value our for shareholders and the world as we commercialize our PET closures business.”

Bissell added: “Matt has strong manufacturing leadership experience and a demonstrated record of successfully managing both corporate finance and operations functions, having previously served as COO/CFO of a publicly held medical device company. As we enter our commercial production ramp-up phase, this is the perfect time for us to deploy Matt’s operational horsepower as Origin’s COO/CFO.”

link

Leave a Reply

Your email address will not be published. Required fields are marked *