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Burcon NutraScience Announces Appointment of Peter H. Kappel as Interim CEO
Wednesday, March 2, 2022Company Profile | Follow Company
Vancouver, BC, March 2, 2022--(T-Net)--Burcon NutraScience Corporation (TSX: BU) (NASDAQ: BRCN), a global technology leader in the development of plant-based proteins for foods and beverages, announced that Peter G. Kappel, Chairman of Burcon's board of directors, will assume the role of interim Chief Executive Officer ("CEO"), with immediate effect, until a successor is appointed by the Company's board of directors.
Mr. Kappel is a former investment banker who served in senior roles at Nomura, Dresdner Kleinwort Wasserstein, Calyon and DVB Bank in London. He brings extensive experience in strategic and business management as well as a wealth of knowledge in the field of finance and investment.
Mr. Kappel has served as a director on Burcon's board since 2016 and was appointed chairman of the board in September 2021. Mr. Kappel has worked closely with management to achieve the transformational business relationships over the past few years.
As previously announced, Mr. Johann Tergesen will continue in an ongoing capacity as an advisor to the company and Burcon's board of directors. The Company has engaged Kincannon & Reed, an executive search firm specialising in the food and agribusiness sectors, to assist in recruiting a new CEO.
"On behalf of the Board of Directors and the entire team at Burcon, I want to sincerely thank Johann for his many years of service and for leading Burcon to where it is today. I am pleased to step in as interim CEO during this transition period. Our executive search for a successor who brings expertise in the specialty food ingredients space is well underway," said Peter G. Kappel, Chairman and interim CEO, adding, "I look forward to continuing on the company's recent progress and developments."
About Burcon NutraScience Corporation
Burcon is a global technology leader in the development of plant-based proteins for foods and beverages. With over two decades of experience formulating high-purity proteins that have superior functionality, taste and nutrition, Burcon has amassed an extensive patent portfolio covering its novel plant-based proteins derived from pea, canola, soy, hemp, sunflower seed, among other plant sources.
In 2019, Merit Functional Foods Corporation ("Merit Foods") was established between Burcon and three veteran food industry executives. Merit Foods has since built and commissioned a state-of-the-art protein production facility in Manitoba, Canada that is producing, under license from Burcon, best-in-class pea and canola proteins for the food and beverage industries.
Forward-Looking Information Cautionary Statement The TSX has not reviewed and does not accept responsibility for the adequacy of the content of the information contained herein. This press release contains forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements or forward-looking information involve risks, uncertainties and other factors that could cause actual results, performances, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. [ MORE ] |
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Burcon NutraScience Corporation
Vancouver (Biotech/Life Sciences)
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