Origin Materials Announces Transition to Single CEO Leadership Structure Under John Bissell
Origin Materials (NASDAQ: ORGN) announced a leadership transition to a single CEO structure, with Co-Founder John Bissell becoming the sole Chief Executive Officer effective December 31. Co-CEO Rich Riley will step down from his role and board position but continue as an advisor through 2025. Additionally, CFO Matt Plavan will assume the additional role of Chief Operating Officer.
The transition aims to enable quicker and more nimble operations as Origin expands manufacturing activities in 2025. Riley, who joined as Co-CEO in 2020, helped guide the company's commercial efforts and go-to-market strategy, including Origin's transition to becoming publicly listed. The company's PET caps and closures business is positioned for rapid and sustained growth.
Origin Materials (NASDAQ: ORGN) ha annunciato una transizione di leadership verso una struttura con un unico CEO, con il Co-Fondatore John Bissell che diventerà l'unico Amministratore Delegato a partire dal 31 dicembre. Il Co-CEO Rich Riley si dimetterà dal suo ruolo e dalla posizione nel consiglio, ma continuerà come consulente fino al 2025. Inoltre, il CFO Matt Plavan assumerà anche il ruolo di Direttore Operativo.
La transizione mira a consentire operazioni più rapide e agili mentre Origin espande le sue attività di produzione nel 2025. Riley, che è entrato come Co-CEO nel 2020, ha contribuito a guidare gli sforzi commerciali e la strategia di mercato dell'azienda, inclusa la transizione di Origin per diventare un'azienda quotata in borsa. L'attività dell'azienda relativa a tappi e chiusure in PET è posizionata per una crescita rapida e sostenuta.
Origin Materials (NASDAQ: ORGN) anunció una transición de liderazgo a una estructura con un solo CEO, siendo el Co-Fundador John Bissell el único Director Ejecutivo a partir del 31 de diciembre. El Co-CEO Rich Riley dejará su cargo y posición en la junta, pero continuará como asesor hasta 2025. Además, el CFO Matt Plavan asumirá también el rol de Director de Operaciones.
La transición tiene como objetivo permitir operaciones más rápidas y ágiles a medida que Origin expande sus actividades de fabricación en 2025. Riley, quien se unió como Co-CEO en 2020, ayudó a guiar los esfuerzos comerciales de la empresa y su estrategia de mercado, incluida la transición de Origin para convertirse en una empresa que cotiza en bolsa. El negocio de tapas y cierres de PET de la empresa está posicionado para un crecimiento rápido y sostenido.
Origin Materials (NASDAQ: ORGN)는 단일 CEO 구조로의 리더십 전환을 발표했으며, 공동 창립자인 John Bissell이 12월 31일부터 유일한 최고 경영자가 됩니다. 공동 CEO인 Rich Riley는 그의 역할과 이사회 직위를 내려놓지만 2025년까지 고문으로 활동할 것입니다. 또한, CFO Matt Plavan이 COO 역할을 추가로 맡게 됩니다.
이번 전환은 Origin이 2025년에 제조 활동을 확장함에 따라 더 빠르고 민첩한 운영을 가능하게 하는 것을 목표로 하고 있습니다. 2020년에 공동 CEO로 합류한 Riley는 회사의 상업적 노력과 시장 접근 전략을 지휘하는 데 도움을 주었으며, Origin이 정식 상장회사로 전환하는 과정을 지원했습니다. 회사의 PET 캡 및 마감재 사업은 빠르고 지속적인 성장을 위한 좋은 위치에 있습니다.
Origin Materials (NASDAQ: ORGN) a annoncé une transition de direction vers une structure avec un seul PDG, avec le co-fondateur John Bissell devenant le seul directeur général à partir du 31 décembre. Le co-PDG Rich Riley démissionnera de son poste et de sa position au conseil d'administration, mais continuera comme conseiller jusqu'en 2025. De plus, le CFO Matt Plavan aura également le rôle de directeur des opérations.
La transition vise à permettre des opérations plus rapides et plus agiles alors qu'Origin étend ses activités de fabrication en 2025. Riley, qui a rejoint l'entreprise en tant que co-PDG en 2020, a aidé à guider les efforts commerciaux de l'entreprise et sa stratégie d'accès au marché, y compris la transition d'Origin pour devenir une entreprise cotée en bourse. L'activité de l'entreprise dans le domaine des bouchons et des fermetures en PET est positionnée pour une croissance rapide et soutenue.
Origin Materials (NASDAQ: ORGN) hat einen Führungswechsel zu einer Struktur mit einem einzigen CEO angekündigt, wobei der Mitbegründer John Bissell ab dem 31. Dezember der einzige CEO wird. Co-CEO Rich Riley wird von seiner Rolle und seiner Position im Vorstand zurücktreten, bleibt jedoch bis 2025 als Berater tätig. Darüber hinaus wird CFO Matt Plavan zusätzlich die Rolle des Chief Operating Officer übernehmen.
Der Übergang zielt darauf ab, schnellere und agilere Abläufe zu ermöglichen, während Origin seine Produktionsaktivitäten im Jahr 2025 ausweitet. Riley, der 2020 als Co-CEO begann, half bei der Steuerung der kommerziellen Bemühungen des Unternehmens und der Marktzugangstrategie, einschließlich der Umwandlung von Origin in ein börsennotiertes Unternehmen. Das Geschäft des Unternehmens mit PET-Deckeln und -Verschlüssen ist für ein schnelles und nachhaltiges Wachstum positioniert.
- Streamlined leadership structure for faster decision-making
- Retention of Rich Riley as advisor through 2025 ensures smooth transition
- CFO expansion to COO role adds operational expertise for manufacturing phase
- PET caps and closures business positioned for rapid growth
- Leadership restructuring could create temporary organizational uncertainty
Insights
— Co-Founder and Co-CEO John Bissell to Serve as Origin’s Chief Executive Officer —
— Rich Riley to Step Down as Co-CEO and from Board, Hold Advisory Role Through End of 2025 —
“I want to thank Rich for his valuable contributions to Origin these past four years,” said Bissell. “During Rich’s tenure, Origin became a publicly listed company, and he was instrumental in positioning Origin for our next phase of growth. We believe now is the right time to transition to a single CEO structure, which will enable quick and nimble operations as we expand our manufacturing activities in 2025. We look forward to a smooth and orderly transition ahead.”
Riley, who joined Origin as Co-CEO in 2020, helped steer the company’s commercial efforts and go-to-market strategy. Riley has been an advisor to and investor in Origin since 2010.
“I am extremely proud to have served Origin partners and shareholders during my time at the company alongside John and our amazing team,” said Riley. “We created a strong foundation together and, with our PET caps and closures business now positioned for rapid and sustained growth, I believe Origin has a bright future ahead.”
“On behalf of the Board, I would like to thank Rich for his contributions to Origin,” said Board Chair R. Tony Tripeny. “Looking ahead to Origin’s future, we are excited for John, Matt and the leadership team to continue driving the company forward to unlock tremendous value our for shareholders and the world as we commercialize our PET closures business.”
Bissell added: “Matt has strong manufacturing leadership experience and a demonstrated record of successfully managing both corporate finance and operations functions, having previously served as COO/CFO of a publicly held medical device company. As we enter our commercial production ramp-up phase, this is the perfect time for us to deploy Matt’s operational horsepower as Origin’s COO/CFO.”
About Origin Materials
Origin is a technology company with a mission to enable the world’s transition to sustainable materials. Our innovations include PET caps and closures that bring recycling circularity and enhanced performance to a
Cautionary Note on Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “project,” “potential,” “seem,” “seek,” “target,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Origin’s business strategy, rapid and sustained growth of Origin’s PET caps and closures business, timing of expansion of manufacturing activities, and ability to transition smoothly to a single CEO structure. The forward-looking statements are based on various assumptions, whether or not identified in this press release, and on the current plans, objectives, estimates, expectations, and intentions of the management of Origin and are not predictions of actual performance and inherently involve significant risks and uncertainties. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Origin. These forward-looking statements are subject to a number of risks and uncertainties including, but not limited to, the fact that Origin Materials may be unable to successfully commercialize its products; the effects of competition on Origin Materials’ business; the uncertainty of the projected financial information with respect to Origin; disruptions and other impacts to Origin’s business. Other factors that could adversely affect the transactions described above and the Company’s operations include those discussed in the Company’s Quarterly Report on Form 10-Q filed with the
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Origin Materials
Investors: ir@originmaterials.com
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Source: Origin Materials
FAQ
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