Loop Announces Senior Leadership Appointments and Changes
Loop Industries (NASDAQ:LOOP), a clean technology company focused on manufacturing 100% recycled PET plastic and textile-to-textile polyester fiber, has announced key senior leadership changes to support its technology commercialization phase.
The company has promoted Adel Essadam to Chief Operating Officer from his previous role as VP of Science and Technology. Essadam, a recognized expert in plastic chemical recycling, will lead commercial facilities development and global technology licensing initiatives, including involvement in joint ventures with Reed Societe Generale Group and Ester Industries.
Giovanni Catino has been appointed Chief Revenue Officer, advancing from VP of Sales, to lead global supply chain development and polyester fiber partnerships. Additionally, Nicolas Lafond will serve as Interim CFO, replacing Fady Mansour who is departing immediately. The company also welcomed Spencer Hart, a 30-year investment banking veteran, to its Board of Directors on February 10, 2025.
Loop Industries (NASDAQ:LOOP), un'azienda di tecnologia pulita focalizzata sulla produzione di plastica PET riciclata al 100% e fibra di poliestere da tessuto a tessuto, ha annunciato importanti cambiamenti nella leadership senior per supportare la fase di commercializzazione della sua tecnologia.
L'azienda ha promosso Adel Essadam a Chief Operating Officer, proveniente dal suo precedente ruolo di VP di Scienza e Tecnologia. Essadam, esperto riconosciuto nel riciclo chimico della plastica, guiderà lo sviluppo di strutture commerciali e le iniziative di licenza tecnologica globale, inclusa la partecipazione a joint venture con Reed Societe Generale Group ed Ester Industries.
Giovanni Catino è stato nominato Chief Revenue Officer, avanzando dal ruolo di VP delle Vendite, per guidare lo sviluppo della catena di approvvigionamento globale e le partnership nella fibra di poliestere. Inoltre, Nicolas Lafond fungerà da CFO ad interim, sostituendo Fady Mansour che lascia immediatamente. L'azienda ha anche accolto Spencer Hart, un veterano della banca d'investimento con 30 anni di esperienza, nel suo Consiglio di Amministrazione il 10 febbraio 2025.
Loop Industries (NASDAQ:LOOP), una empresa de tecnología limpia centrada en la fabricación de plástico PET 100% reciclado y fibra de poliéster de tejido a tejido, ha anunciado cambios clave en su liderazgo senior para apoyar la fase de comercialización de su tecnología.
La empresa ha promovido a Adel Essadam a Director de Operaciones, proveniente de su anterior cargo como VP de Ciencia y Tecnología. Essadam, un experto reconocido en reciclaje químico de plásticos, liderará el desarrollo de instalaciones comerciales e iniciativas de licencia tecnológica global, incluyendo la participación en empresas conjuntas con Reed Societe Generale Group y Ester Industries.
Giovanni Catino ha sido nombrado Director de Ingresos, avanzando desde VP de Ventas, para liderar el desarrollo de la cadena de suministro global y las asociaciones de fibra de poliéster. Además, Nicolas Lafond servirá como CFO interino, reemplazando a Fady Mansour, quien se marcha de inmediato. La empresa también dio la bienvenida a Spencer Hart, un veterano de 30 años en banca de inversión, a su Junta Directiva el 10 de febrero de 2025.
Loop Industries (NASDAQ:LOOP)는 100% 재활용된 PET 플라스틱과 섬유에서 섬유로의 폴리에스터 섬유 제조에 중점을 둔 청정 기술 회사로, 기술 상용화 단계를 지원하기 위한 주요 고위 리더십 변화를 발표했습니다.
회사는 Adel Essadam을 과학 및 기술 부사장 직에서 COO로 승진시켰습니다. 플라스틱 화학 재활용 분야의 저명한 전문가인 Essadam은 상업 시설 개발 및 글로벌 기술 라이센스 이니셔티브를 이끌며, Reed Societe Generale Group 및 Ester Industries와의 합작 투자에도 참여할 예정입니다.
Giovanni Catino는 판매 부사장에서 승진하여 수익 책임자로 임명되어 글로벌 공급망 개발 및 폴리에스터 섬유 파트너십을 이끌게 됩니다. 또한, Nicolas Lafond는 즉시 떠나는 Fady Mansour를 대신하여 임시 CFO로 활동할 것입니다. 회사는 또한 2025년 2월 10일에 30년 경력의 투자은행 전문가 Spencer Hart를 이사회에 영입했습니다.
Loop Industries (NASDAQ:LOOP), une entreprise de technologie propre spécialisée dans la fabrication de plastique PET 100 % recyclé et de fibre de polyester de tissu à tissu, a annoncé des changements clés dans sa direction pour soutenir la phase de commercialisation de sa technologie.
L'entreprise a promu Adel Essadam au poste de Directeur des opérations, venant de son précédent rôle de VP de la science et de la technologie. Essadam, expert reconnu dans le recyclage chimique des plastiques, dirigera le développement des installations commerciales et les initiatives de licence technologique mondiale, y compris sa participation à des coentreprises avec le Reed Societe Generale Group et Ester Industries.
Giovanni Catino a été nommé Directeur des revenus, passant de VP des ventes, pour diriger le développement de la chaîne d'approvisionnement mondiale et les partenariats en fibre de polyester. De plus, Nicolas Lafond servira en tant que CFO par intérim, remplaçant Fady Mansour qui part immédiatement. L'entreprise a également accueilli Spencer Hart, un vétéran de 30 ans de la banque d'investissement, au sein de son conseil d'administration le 10 février 2025.
Loop Industries (NASDAQ:LOOP), ein Unternehmen für saubere Technologien, das sich auf die Herstellung von 100% recyceltem PET-Kunststoff und Textil-zu-Textil-Polyesterfaser konzentriert, hat wichtige Veränderungen in der oberen Führung angekündigt, um die Kommerzialisierungsphase seiner Technologie zu unterstützen.
Das Unternehmen hat Adel Essadam vom VP für Wissenschaft und Technologie zum Chief Operating Officer befördert. Essadam, ein anerkannter Experte für chemisches Recycling von Kunststoffen, wird die Entwicklung kommerzieller Einrichtungen und globale Technologie-Lizenzierungsinitiativen leiten, einschließlich der Beteiligung an Joint Ventures mit der Reed Societe Generale Group und Ester Industries.
Giovanni Catino wurde zum Chief Revenue Officer ernannt, nachdem er vom VP für Vertrieb aufgestiegen ist, um die Entwicklung der globalen Lieferkette und Partnerschaften im Bereich Polyesterfaser zu leiten. Darüber hinaus wird Nicolas Lafond als Interim CFO fungieren und Fady Mansour ersetzen, der das Unternehmen sofort verlässt. Das Unternehmen begrüßte auch Spencer Hart, einen 30-jährigen Veteranen im Investment Banking, am 10. Februar 2025 im Vorstand.
- Strategic leadership restructuring to support technology commercialization phase
- Expansion into polyester fiber product offering through new partnerships
- Addition of experienced investment banking veteran to Board of Directors
- Immediate departure of CFO indicates potential internal challenges
- Interim CFO appointment suggests lack of succession planning
MONTRÉAL, QUEBEC / ACCESS Newswire / March 7, 2025 / Loop Industries, Inc. (Nasdaq:LOOP) ("Loop," or the "Company"), a clean technology company dedicated to accelerating circular fashion by manufacturing
Adel Essadam, Vice President of Science and Technology, is promoted to the position of Chief Operating Officer. Adel is recognized as one of the most knowledgeable experts in the plastic chemical recycling industry and has become highly respected both within the industry and with his peers in the Company. This promotion reflects Adel's leadership role in negotiating and implementing the Company's ongoing joint ventures and technology licensing initiatives. Specifically, Adel led the recent successful financing, joint venture and technology licensing negotiations with Reed Societe Generale Group and the negotiation of the India joint venture ("India JV") with Ester Industries. Going forward, Adel will play the lead role supporting Founder and CEO Daniel Solomita in implementing initiatives to build out future commercial facilities and negotiating global technology licensing opportunities. Adel will sit on the board of Loop's India JV with Ester Industries and the joint venture with Reed Societe Generale Group in Europe.
Giovanni Catino, Vice President of Sales, is appointed Chief Revenue Officer, reflecting his leadership role in developing and implementing Loop's sales strategy with global apparel and food and beverage customers. Giovanni will play the lead role in building out our global supply chains, including the addition of polyester fiber as a product offering through partnerships with spinning companies. Giovanni will also sit on the board of the India JV with Ester Industries.
In conjunction with the above changes in senior leadership, Fady Mansour, CFO, will leave Loop with immediate effect. Nicolas Lafond, Senior Director of Finance and Corporate Secretary, will assume responsibility as Interim CFO. Nicolas has played the leading role in the Company's financial reporting and regulatory disclosure, working with Loop's external auditors and the Audit Committee of the Board of Directors.
The Company also noted that Spencer Hart was appointed to Loop's Board of Directors on February 10, 2025. Mr. Hart has had a career in investment banking spanning over 30 years. He has worked with clients across a variety of industries, with a focus on retail and consumer companies. Throughout his career, he has advised on many M&A and financing transactions, both public and private. He is currently a Senior Advisor with Guggenheim Securities, based in New York.
Daniel Solomita, Founder and CEO of Loop, commented "I am excited with the development of Adel and Giovanni as leaders within Loop's senior management team as we transition to the next stage of our strategic development with the commercialization and licensing of our technology. Also, I am grateful to be able to count on Nicolas Lafond to continue to oversee and ensure high standards in our financial reporting and internal controls. In addition, I welcome Spencer Hart to the Board of Directors. His experience and excellent reputation in capital markets and M&A will make him a valuable addition to the Board. I would also like to wish Fady Mansour success in his future career."
About Loop Industries
Loop Industries is a technology company whose mission is to accelerate the world's shift toward sustainable PET plastic and polyester fiber and away from our dependence on fossil fuels. Loop Industries owns patented and proprietary technology that depolymerizes no and low-value waste PET plastic and polyester fiber, including plastic bottles and packaging, carpets and textiles of any color, transparency or condition and even ocean plastics that have been degraded by the sun and salt, to its base building blocks (monomers). The monomers are filtered, purified and polymerized to create virgin-quality Loop™ branded PET resin suitable for use in food-grade packaging and polyester fiber, thus enabling our customers to meet their sustainability objectives. Loop™ PET plastic and polyester fiber can be recycled infinitely without degradation of quality, successfully closing the plastic loop. Loop Industries is contributing to the global movement towards a circular economy by reducing plastic waste and recovering waste plastic for a sustainable future.
Common shares of the Company are listed on the NASDAQ Global Market under the symbol "LOOP."
For more information, please visit www.loopindustries.com.
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Forward-Looking Statements
This news release contains "forward-looking statements" as defined in the U.S. Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "should," "could," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or "continue," the negative of such terms or similar words. These forward-looking statements include, without limitation, statements about the anticipated benefits of the leadership change discussed herein. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond Loop's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with among other things: (i) our ability to commercialize our technology and products, (ii) the status of our relationships with our partners, (iii) development and protection of our intellectual property and products, (iv) industry competition, (v) our need for and ability to obtain additional funding relative to our current and future financial commitments, (vi) our ability to continue as a going concern, (vii) engineering, contracting, and building our manufacturing facilities, (viii) our ability to scale, manufacture, and sell our products and to license our technology in order to generate revenues, (ix) our proposed business model and our ability to execute it, (x) our ability to obtain the necessary approvals or satisfy any closing conditions in respect of any of our proposed partnerships, (xi) our joint venture projects and our ability to recover certain expenditures in connection them, (xii) adverse effects on the Company's business and operations as a result of increased regulatory, media, or financial reporting scrutiny, practices, rumors, or otherwise, (xiii) public health issues, such as disease epidemics, which may lead to reduced access to capital markets, supply chain disruptions, and government-imposed business closures, (xiv) war, regional tensions, and economic or other conflicts that could impact market stability and our business; (xv) the effect of the continuing worldwide macroeconomic uncertainty and its impacts, including inflation, market volatility and fluctuations in foreign currency exchange and interest rates, (xvi) the outcome of any Securities and Exchange Commission ("SEC") investigations or class action litigation filed against us, (xvii) our ability to hire and/or retain qualified employees and consultants, (xviii) other events or circumstances over which we have little or no control, and (xix) other factors discussed in Loop's Annual Report on Form 10-K for the fiscal year ended February 29, 2024 filed with the SEC and in Loop's subsequent filings with the SEC. More detailed information about Loop and the risk factors that may affect the realization of forward-looking statements is set forth in Loop's filings with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov. Loop assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise, unless otherwise required by law.
For More Information:
Investor Relations:
Kevin C. O'Dowd, Investor Relations
Loop Industries, Inc.
+1 617-755-4602
kodowd@loopindustries.com
SOURCE: Loop Industries
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