Willow Biosciences Inc said its board of directors has appointed Dr Peter Seufer-Wasserthal as the company's interim president and chief executive officer, effective July 17, 2022, following the retirement of Trevor Peters, who will remain as a director of Willow.
The Vancouver-based company said in addition, Willow director Barbara Munroe has been appointed as lead independent director.
"Peter is a visionary leader that has been chairman of the board of Willow since 2020," Munroe said in a statement.
READ: Willow Biosciences incorporates Inscripta’s digital genome engineering platform into its strain workflows
"Peter's experience in biotech, pharma and consumer ingredients uniquely positions him to oversee the implementation of our strategic initiatives going forward as we expand our portfolio of functional ingredients beyond cannabinoids," she added.
Munroe continued: "On behalf of the board of directors, I would like to thank Trevor for his stewardship through the challenges of the pandemic and broader industry headwinds. We are grateful for his contributions to Willow and wish him all the best in his retirement."
Commenting on his appointment, Seufer-Wasserthal said: “I am enthused to take over as interim CEO at such an exciting time in the company's history.
"Willow's technology platform has been demonstrated with the rapid commercial launch of its yeast-derived cannabigerol and is now positioned to successfully deliver new consumer ingredients for the nutrition, food and beverage, and consumer care sectors, either independently or through partnerships," he added.
Seufer-Wasserthal's immediate areas of focus include identifying additional key functional ingredients and new markets for Willow's products; securing new strategic partnerships to accelerate commercialization; and continuing to build and lead the organization to successfully execute on its mission.
Willow develops and produces high-purity ingredients for the personal care, food and beverage, and pharmaceutical markets. Willow's FutureGrown biotechnology platform allows large-scale production with sustainability at its core.
Contact the author at jon.hopkins@proactiveinvestors.com