Algatech Names New CEO and Chief Scientist

KIBBUTZ KETURA, Israel, February 23, 2015 /PRNewswire/ --

Algatechnologies, (Algatech) announces the appointment of Ronnie Meninger as CEO.  Mr. Hagai Stadler, of Grovepoint (Algatech's major shareholder) who served in the last two years as an interim CEO will become a director on the Board of Directors and will be in charge of M&A activities for Algatech. Sammy Boussiba PhD., was appointed Chief Scientist to Algatech' Board of Directors.

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Meninger has more than 30 years of experience in the fine chemical, special ingredients and pharmaceutical industries. She served in multiple managerial positions, and was managing director of Chemada Fine chemicals, Israel (part of the ICL Group). Meninger also is a board member of several public companies in Israel. She holds an MBA and B.Sc in Life Sciences from the Hebrew University of Jerusalem.

 "I'm excited to join Algatech and be part of its excellent team," says Meninger. "Our strategy for the next years includes major investments in developing unique active ingredients, incorporating innovative technologies to our cultivating process and growing through synergistic acquisitions. In addition, we will offer new delivery forms and increase our focus on compiling more comprehensive scientific data for the AstaPure^® brand in order to maintain our distinctive quality, and offer advanced natural astaxanthin solutions to our customers. We also will recruit new key positions and invest further in human resources."

"I'm very pleased to welcome Ronnie Meninger as the CEO of Algatech," says Ed Hofland, Algatech's chairman. "I'm convinced that under Ronnie's leadership Algatech will continue to grow and show strong performance based on its solid foundations and devoted team. Ronnie's global experience, coupled with our unquenchable team passion, will enable us to face the dynamic market challenges and continue building Algatech's global presence.

Meninger's first strategic accomplishment was to nominate Boussiba, from The Blaustein Institute for Desert Research, Ben Gurion University of the Negev as Chief Scientist to the Board of Directors. Boussiba is among the world's leading scientists in microalgae biotechnology and the inventor of the technology used by Algatech for the AstaPure natural astaxanthin production.

"Boussiba's nomination is important for our future success," notes Meninger. "Science is one of our company foundations and we aim to increase investment not only in innovation but also in new technologies, sustainable production and improved business models."

Algatech is a global biotechnology company specializing in the commercial cultivation of microalgae and a member of NAXA-the Natural Algae Astaxanthin Association. Algatech' proprietary process of the AstaPure brand employs a closed system, ensuring a fully controlled process, a high active-ingredient content, an extremely pure product and consistently reliable quality. The use of supercritical CO2 extraction technology guarantees solvent-free products.

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Company contact

Algatechnologies Ltd.
Ms. Efrat Kat
Director, Marketing & Sales
Phone: +972-8-6356425
E-mail: [email protected]
http://www.algatech.com

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SOURCE Algatechnologies Ltd