Burcon NutraScience Corp (TSX:BU) has appointed Kip Underwood, a seasoned veteran executive with over 25 years of experience in the food and specialty protein industry, as CEO effective November 7.
At the same time, Peter H Kappel has relinquished his role as interim CEO and will remain as chair of the board of directors of the Vancouver-based plant protein company.
Kappel said Underwood is a proven leader of global food ingredient businesses with decades of specialty protein experience and an impressive track record of driving sustainable profitable growth.
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“Kip's consumer-centric mindset, go-to-market expertise and passion for building high-performance cultures make him the ideal leader for Burcon's next growth chapter,” Kappel said in a statement.
“Burcon's board is confident that his deep industry knowledge and collective skill set will help the company in monetizing its intellectual property, executing strategic partnership initiatives, and bringing to market Burcon's innovative protein technologies, to ultimately drive enhanced value for our shareholders," Kappel said.
According to Burcon, Underwood has expertise in sales, marketing, business development and strategy in the specialty protein space. His experience includes executive leadership roles at global companies including the Solae Company and DuPont (NYSE:DD) Nutrition and Health, where he was responsible for top line sales of $1.4 billion and approximately 250 employees.
Known as a champion for growth, Burcon said Underwood has led and transformed businesses from multi-year decline into year-over-year growth engines.
Underwood said that, as a pioneer in the development of plant-based proteins, Burcon is well-positioned to meet the market needs for better, plant-based foods.
“Plant-based foods are an integral piece to creating a more sustainable food system. Burcon can lead the way with its next generation plant protein ingredients. I look forward to working closely with the board and the entire team to shape the next chapter of Burcon," Underwood said.
Along with senior roles at the Solae Company and DuPont (NYSE:DD), Underwood mostly recently was GM at Benson Hill and holds an MBA from Saint Louis University and a Bachelor of Science in Chemical Engineering from University of Missouri-Columbia.
Contact the author at susie@proactiveinvestors.com