Danimer Scientific Appoints Stephen Martin as Chief Legal Officer and Corporate Secretary

Rhea-AI Summary

Danimer Scientific (NYSE: DNMR) has appointed Stephen Martin as Chief Legal Officer and Corporate Secretary. Martin, a Duke University graduate and former Air Force officer, will oversee legal affairs as the company expands its manufacturing capacity in the growing bioplastics market. Previously, he served as General Counsel for Kaman Distribution Group and Accuride Corporation. Chairman Stephen E. Croskrey emphasized the importance of Martin's experience in managing legal matters for publicly traded companies in Danimer's ongoing transition towards sustainable biopolymers.

Positive

• Appointment of Stephen Martin expected to enhance legal oversight as the company scales manufacturing.
• Martin's experience with publicly traded companies may strengthen Danimer's corporate governance.

Negative

• Concerns about continuity as the company transitions leadership in a critical growth phase.

Martin, a Duke University graduate and former Air Force officer, brings experience managing the legal affairs of publicly traded companies

BAINBRIDGE, Ga.--(BUSINESS WIRE)-- Danimer Scientific, Inc. (NYSE: DNMR) (“Danimer” or the “Company”), a leading next-generation bioplastics company focused on the development and production of biodegradable materials, today announced it has appointed Stephen Martin as Chief Legal Officer and Corporate Secretary. In this role, Martin will manage a wide range of legal matters across the company as Danimer continues to expand its manufacturing capacity to meet demand in the fast-growing bioplastics market.

Martin joins Danimer from Kaman Distribution Group, a leading national distributor of highly engineered products and services, where he had served as General Counsel and Corporate Secretary from 2020 until that company’s successful sale earlier this year. Before that, he was General Counsel and Corporate Secretary for Accuride Corporation, a vehicle components manufacturer, starting in 2008.

Stephen E. Croskrey, Chairman and Chief Executive Officer of Danimer, said, “We’re thrilled to have Steve join Danimer at this important point in our company’s history. His broad skill set, familiarity with numerous industries, and experience managing the legal affairs of publicly traded companies will be vital as we continue scaling up our production of renewable and sustainable biopolymers, offering manufacturers environmentally friendly alternatives to single-use plastics.”

Martin served as an officer in the Air Force from 1992 to 1998, managing the procurement of avionics systems for the Atlas Launch Vehicle system and serving on a satellite command and control squadron responsible for operating a constellation of satellites. He is a distinguished graduate of Squadron Officer School.

Martin received his Juris Doctor from Duke University School of Law in 2001, graduating cum laude. He received his master’s from the University of Southern California and his bachelor’s degree from the University of Miami, both in electrical engineering.

“I’m pleased to be joining Danimer just as the potential of bioplastics is starting to be more widely known,” Martin said. “As Danimer continues to build momentum in this growing industry, I’m excited to apply my expertise to tackle legal questions and further strengthen our company for the future.”

For more information, please visit www.DanimerScientific.com.

About Danimer Scientific

Danimer is a pioneer in creating more sustainable, more natural ways to make plastic products. For more than a decade, its renewable and sustainable biopolymers have helped create plastic products that are biodegradable and compostable and return to nature instead of polluting our lands and waters. Danimer’s technology can be found in a vast array of plastic end products that people use every day. Applications for its biopolymers include additives, aqueous coatings, fibers, filaments, films and injection-molded articles, among others. Danimer holds more than 430 granted patents and pending patent applications in more than 20 countries for a range of manufacturing processes and biopolymer formulations. For more information, visit www.DanimerScientific.com.

Forward‐Looking Statements

Please note that in this press release we may use words such as “appears,” “anticipates,” “believes,” “plans,” “expects,” “intends,” “future,” and similar expressions which constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this release include, but are not limited to, the overall level of consumer demand on our products; general economic conditions and other factors affecting consumer confidence, preferences, and behavior; disruption and volatility in the global currency, capital, and credit markets; the financial strength of the Company's customers; the Company's ability to implement its business strategy, including, but not limited to, its ability to expand its production facilities and plants to meet customer demand for its products and the timing thereof; risks relating to the uncertainty of the projected financial information with respect to the Company; the ability of the Company to execute and integrate acquisitions; changes in governmental regulation, legislation or public opinion relating to our products; the Company’s exposure to product liability or product warranty claims and other loss contingencies; disruptions and other impacts to the Company’s business, as a result of the COVID-19 global pandemic and government actions and restrictive measures implemented in response; stability of the Company’s manufacturing facilities and suppliers, as well as consumer demand for our products, in light of disease epidemics and health-related concerns such as the COVID-19 global pandemic; the impact on our business, operations and financial results from the ongoing conflict in Ukraine; the impact that global climate change trends may have on the Company and its suppliers and customers; the Company's ability to protect patents, trademarks and other intellectual property rights; any breaches of, or interruptions in, our information systems; the ability of our information technology systems or information security systems to operate effectively, including as a result of security breaches, viruses, hackers, malware, natural disasters, vendor business interruptions or other causes; our ability to properly maintain, protect, repair or upgrade our information technology systems or information security systems, or problems with our transitioning to upgraded or replacement systems; the impact of adverse publicity about the Company and/or its brands, including without limitation, through social media or in connection with brand damaging events and/or public perception; fluctuations in the price, availability and quality of raw materials and contracted products as well as foreign currency fluctuations; our ability to utilize potential net operating loss carryforwards; and changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks. More information on potential factors that could affect the Company's financial results is included from time to time in the Company's public reports filed with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. All forward-looking statements included in this press release are based upon information available to the Company as of the date of this press release, and speak only as of the date hereof. We assume no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220920005476/en/

For Danimer:

Investors

ir@danimer.com

Phone: 229-220-1103

Media

Anthony Priwer

apriwer@daltonagency.com

Phone: 615-515-4891

Source: Danimer Scientific, Inc.

FAQ

Who is Stephen Martin in relation to Danimer Scientific?

Stephen Martin has been appointed as Chief Legal Officer and Corporate Secretary of Danimer Scientific.

What is Stephen Martin's professional background?

Martin has experience as General Counsel at Kaman Distribution Group and Accuride Corporation, and is a Duke University law graduate.

How will Stephen Martin's role affect Danimer Scientific?

Martin will manage legal affairs, supporting Danimer’s expansion in the bioplastics market.

What is the significance of this leadership change for DNMR shareholders?

The leadership change could enhance corporate governance, but there are concerns about continuity during a critical growth period.