Attached files
| file | filename |
|---|---|
| 8-K - CURRENT REPORT - ChromaDex Corp. | cdxc8k.htm |
| EX-10.1 - EXECUTIVE EMPLOYMENT AGREEMENT WITH KEVIN M. FARR - ChromaDex Corp. | ex10-1.htm |
Exhibit 99.1
ChromaDex Appoints Kevin Farr as New
CFO
IRVINE, Calif., Oct. 9, 2017 –
ChromaDex Corp. (NASDAQ: CDXC), an innovator of science-based,
proprietary health and wellness consumer products and ingredient
technologies that promote health longevity, announced today that it
has appointed Kevin Farr as new Chief Financial Officer, effective
immediately. Farr is joining ChromaDex from Mattel, Inc., where he
was Executive Vice President and CFO since 2000. Farr brings
extensive global experience in building iconic consumer brands,
including American Girl, Barbie, Fisher-Price, Hot Wheels and
Thomas & Friends. ChromaDex expects that Thomas Varvaro will
transition from ChromaDex over the coming months to pursue other
opportunities. During this transition, he will take on the role of
Senior Vice President, Finance and will report to Kevin
Farr.
Farr
has extensive global S&P 500 public company experience in
corporate finance, treasury, tax, investor relations, strategic
planning, corporate development, mergers and acquisitions,
information technology, operational efficiency and transformation
programs, and capital market transactions.
“Kevin
is a seasoned finance and business leader with more than three
decades of experience, including a top leadership position at one
of the world’s great consumer goods companies,” said
Robert Fried, President and Chief Strategy Officer of ChromaDex.
“I’m excited to welcome Kevin to ChromaDex’s
senior leadership team as CFO. His integrity and results-oriented
mindset, will complement our team, as we focus on ChromaDex’s
new growth strategy.”
“I
see tremendous global growth opportunities for ChromaDex’s
multifaceted ingredient, consulting and consumer products that
focus on various patented ingredients and its flagship consumer
product, TRU NIAGEN™,” said
Kevin Farr. “I look forward to executing our new strategy to
deliver TRU NIAGEN™ directly to
the consumer and select resellers.”
Mr.
Farr serves on the board of directors and is Chairman of the Audit
Committee of Polaris, Inc., as well as on the Corporate Advisory
Board of the Marshall School of Business at the University of
Southern California. Kevin received his master’s degree at
Northwestern University and is a Certified Public Accountant. Prior
to joining Mattel, he worked at PricewaterhouseCoopers for 10
years.
“I
want to thank Tom Varvaro for his outstanding leadership as
ChromaDex’s CFO over the last 14 years,” said ChromaDex
Co-Founder and CEO, Frank Jaksch. “Tom has been instrumental
in building ChromaDex into the science based innovation company
that we are today.”
Tom
Varvaro stated, "I am very proud of the work we have done at
ChromaDex during my tenure, and it has been a very rewarding
personal experience for me as well. I will continue to follow the
company closely as the team builds on the current positive momentum
and I look forward to seeing what they will be able to accomplish
with NIAGEN® over the coming
years.”
About ChromaDex:
ChromaDex leverages its complementary business units to discover,
acquire, develop and commercialize patented and proprietary
ingredient technologies that address the dietary supplement, food,
beverage, skin care and pharmaceutical markets. In addition to our
ingredient technologies unit, we also have business units focused
on natural product fine chemicals (known as "phytochemicals"),
chemistry and analytical testing services, and product regulatory
and safety consulting. As a result of our relationships with
leading universities and research institutions, we are able to
discover and license early stage, IP-backed ingredient
technologies. We then utilize our in-house chemistry, regulatory
and safety consulting business units to develop commercially viable
ingredients. Our ingredient portfolio is backed with clinical and
scientific research, as well as extensive IP protection. Our
portfolio of patented ingredient technologies includes
NIAGEN®
nicotinamide riboside;
pTeroPure®
pterostilbene; PURENERGY®,
a caffeine-pTeroPure® co-crystal; IMMULINA™,
a spirulina extract; and AnthOrigin®,
anthocyanins derived from a domestically-produced, water-extracted
purple corn. To learn more about ChromaDex, please visit
www.ChromaDex.com.
Forward-Looking Statements:
This
release contains forward-looking statements 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 Mr. Varvaro’s
transition from ChromaDex, ChromaDex’s growth strategy, the
ability of Mr. Farr to complement the ChromaDex team, the global
growth opportunities for ChromaDex’s multifaceted ingredient,
consulting and consumer products that focus on various patented
ingredients and its flagship consumer product, TRU
NIAGEN™, and the
performance of NIAGEN® over the coming
years. 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
949-419-0288
andrewj@chromadex.com
ChromaDex Public Relations Contact:
Breah
Ostendorf, Director of Marketing
949-537-4103
breaho@chromadex.com
END
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