Mar 03, 2006 /PRNewswire-FirstCall via COMTEX/ -- NutraCea (NTRZ) announced today the significant management hire of Kody Newland as Senior V.P. of Sales, who brings over 27 years of sales and marketing experience in the both the private and public markets.
Mr. Newland most recently served as Vice President of Sales for the American Modern Insurance Group, Inc., a subsidiary of The Midland Company (MLAN) , a publicly traded company with sales in excess of $700 million.
Mr. Newland noted, "During my tenure I was responsible for initiating and overseeing one of the most profitable and fastest growing divisions of the Company's operations, with a primary focus in the Southwestern United States. Under my management, I directed a divisional sales force that developed new business and that was an important part of significantly increasing the revenue for Midland. Additionally, I was directly responsible for creating strategic relationships and the transfer and conversion of many of the competitors' portfolios of business, which represented hundreds of millions of new and recurring revenue during my tenure."
Prior to Midland, Mr. Newland was employed at Foremost Corporation of America, previously a publicly traded company, now a division of the Zurich Company where he was the Senior District Manager and was responsible for creating and growing a region of the country. Prior to that he worked for American International Group, and was the Regional Marketing Manager for Southeast Asia, responsible for sales in six countries, including Hong Kong and Indonesia.
Mr. Newland has also held various consulting responsibilities, which in addition to facilitating several significant Mergers and Acquisitions, created multiple domestic and global marketing strategies to develop new territories, introduce new products, create distribution channels, and implement training and incentive programs for national and international companies.
"I'm excited about the opportunity to join the dynamic management team at NutraCea," added Mr. Newland. "My history of managing sales forces has given me a unique insight to build and service significant revenue accounts and execute effectively with a rapidly expanding sales force."
"I am pleased to have Mr. Newland join our organization at this opportune time in our Company's history. Faced with a dynamic need to service the increasing demand and interest that is being generated for our products, Mr. Newland's talents will be a tremendous asset in building, deploying and effectively capturing the increasing demand for NutraCea's stabilized rice bran products," said Mr. Bradley Edson, President and CEO of NutraCea.
NutraCea is a leader in stabilized rice bran nutrient research and dietary supplement development. Through its wholly owned subsidiary RiceX, the company manufacturers as well as distributes products and food ingredients made from Rice Bran through its proprietary technology and processes. The Company has developed intellectual properties to create a range of proprietary product formulations, delivery systems and whole food nutrition products. NutraCea's proprietary technology enables the creation of food and nutrition products from rice bran, normally a wasted by-product of standard rice processing. In addition to its whole foods products, NutraCea develops families of health- promoting "nutraceuticals," including natural arthritic relief and cholesterol-lowering products. More information can be found in the company's filings with the SEC and you can visit the NutraCea web site http://www.NutraCea.com.
Forward Looking Statements
This release contains forward-looking statements. Actual results may differ from those projected due to a number of risks and uncertainties, including, but not limited to the matters specified in the Company's filings with the Securities and Exchange Commission. These statements are made based upon current expectations that are subject to risk and uncertainty. The Company does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information. Assumptions and other information that could cause results to differ from those set forth in the forward-looking information can be found in the Company's filings with the Securities and Exchange Commission, including the company's most recent periodic report. NutraCea has no relationship or involvement with the American International Group or The Midland Company.