Marrone Bio Innovations Announces Plans for CFO Succession

President and CFO James Boyd to Retire from the Company; Search Process for New CFO Underway

DAVIS, Calif., Sept. 22, 2020 (GLOBE NEWSWIRE) -- Marrone Bio Innovations, Inc. (NASDAQ: MBII) (“Marrone Bio”), an international leader in providing growers with sustainable bioprotection and plant health solutions to support global agricultural needs, announced today that company President and Chief Financial Officer James Boyd will retire from his positions.

A national search process for the new Chief Financial Officer is underway, and Mr. Boyd will continue as President and CFO during the search process.

“Jim has been a key member of the senior management team and a highly-regarded leader for the company over the last seven years” said Chief Executive Officer Kevin Helash. “He has helped guide the company through its successful transition as a market leader in the agricultural biologicals space. On behalf of myself, the board of directors and the entire team at Marrone Bio Innovations, we want to thank Jim for his numerous contributions to the strength of the company and wish him the very best in his retirement.”

“The search for a new CFO is underway, and we are looking for an exceptional individual to help lead the company during its next phase of accelerated growth while ensuring we are brilliant at the basics that drive operational and financial excellence,” added Helash.  “We have a solid financial team in place and expect the new CFO to be able to make a rapid transition and add immediate value.”

“I am proud to have helped build the company into a world-class organization with an unmatched product portfolio in sustainable biological products.  Given our recent revenue growth and margin expansion, I am confident the company is poised to deliver meaningful shareholder value.  I look forward to working with our finance team as we make this transition and ensure the company’s continuing success,” said Boyd.

About Marrone Bio Innovations
Marrone Bio Innovations Inc. (NASDAQ: MBII) is a growth-oriented company leading the movement to a more sustainable world through the discovery, development and sale of innovative biological products for crop protection, plant health and waterway systems treatment that help customers operate more sustainably while increasing their return on investment. MBI has screened over 18,000 microorganisms and 350 plant extracts, leveraging its in-depth knowledge of plant and soil microbiomes enhanced by advanced molecular technologies and natural product chemistry to rapidly develop seven product lines. Supported by a robust portfolio of over 400 issued and pending patents, MBI’s currently available commercial products are Regalia, Stargus, Grandevo, Venerate, Majestene, Haven, Pacesetter, Zelto Jet Oxide and Jet Ag and Zequanox, with a next-generation insecticide-nematicide, a breakthrough bioherbicide and a biofumigant in the Company’s product pipeline. MBI’s Pro Farm Finland-based subsidiary employs a proprietary technology derived from wood waste to stimulate plant growth and improve plant health, resulting in improved yields and crop quality. Products include UBP 110, Foramin, UBP Seed Treatment, Foramin ST.