Boston, MA (March 26, 2012) – Myriant Corporation today announced that William (Bill) M. Wells has been appointed to the Company's board of directors effective January 24, 2012.
Mr. Wells will also serve as Chairman of Myriant's audit committee.
Mr. Wells is the Chairman of Evizone Limited, a pioneer in leading-edge technology for secure Internet-based communications. Previously, Mr. Wells served as Chairman of Valeant Pharmaceuticals International (NYSE/TSX: VRX), Canada's largest pharmaceutical company. Mr. Wells is credited with the turnaround of Canada's largest public pharmaceutical company Biovail Corporation, which concluded with its merger into Valeant in 2009. Mr. Wells has served as Chief Financial Officer for Loblaw Companies Limited (TSX: L), Canada's largest supermarket chain, as well as for Bunge Limited (NYSE: BG), one of the world's leading commodity and food companies. Mr. Wells led Bunge's successful initial public offering and its acquisition and assimilation of Cereol; which made Bunge a global leader in its industry. Mr. Wells also served in executive leadership positions with McDonald's Corporation including serving as Chief Executive, System Capital Corporation and Chief Financial Officer for McDonald's Brazil.
"It's a great pleasure and honor to welcome Bill to Myriant's board of directors," said Stephen J. Gatto, Myriant's Chairman and Chief Executive Officer. "Bill brings a wealth of knowledge, financial expertise and global leadership perspectives to the board and he will provide a natural complement to our already strong team of directors. His proven track-record building world-class businesses and driving shareholder value will be critically important as we prepare Myriant for its next stage of growth and continue to drive towards our goal of becoming the global leader in the production of high-value, bio-based chemicals as sustainable replacements to traditional petroleum-based products."
Mr. Wells received his MBA in International Business from the University of South Carolina, and a BA in Philosophy & English from the University of Western Ontario.
Myriant also announced today that Dr. Dhanes Charoensupaya, Executive Vice President of Growth, Sustainability and Innovation of PTT Global Chemical Public Company Limited (PTTGC) will take over the director seat previously occupied by Mrs. Puntip Oungpasuk, Executive Vice President Strategy & International Affairs of PTTGC, who is stepping down from her director role with Myriant.
Dr. Charoensupaya holds a Ph.D. in Mechanical Engineering from Illinois Institute of Technology; a Master of Science in Mechanical Engineering from Texas A&I University; a Bachelor's degree in Mechanical Engineering from Chulalongkorn University; and, he graduated from the Advanced Management Program of Harvard Business School. He currently serves as a Chairman of Advanced Biochemical (Thailand) Company Limited, Bio Creation Company Limited, and as a Director of Vinythai Public Company Limited, PTT Phenol Company Limited, Thai Tank Terminal Limited.
Mr. Gatto commented, "We are excited to welcome Dhanes with his extensive industry knowledge and relevant expertise to Myriant's Board. We are also extremely grateful for the insightful leadership and strategic contributions by Mrs. Oungpasuk to our Board. PTTGC is a committed and supportive partner who shares our vision of the enormous market potential for Myriant's high-performing, cost-competitive bio-based chemicals. We wish her continued success with her career at PTTGC."
Myriant utilizes its proprietary technology platform to develop innovative, performance-based, renewable chemicals utilizing low-cost sugars. In December 2010, Myriant broke ground on its flagship 30 million pound commercial bio-succinic acid facility in Lake Providence, Louisiana and anticipates beginning commercial production in early 2013. The company's D(-) lactic acid started production at commercial scale in June 2008 for use in polylactic acid. Myriant has agreements with ThyssenKrupp Uhde GmbH for engineering, Davy Process Technology for the integration of Myriant's biosuccinic acid process with the Davy butanediol process for the production of bio-based butanediol, and PTT Chemical for the commercialization of Myriant's technology in Southeast Asia. Myriant is headquartered in Quincy, Massachusetts. Details are available at www.myriant.com.
Sue Hager SVP, Corporate Communications and Government Affairs