PHOENIX, April 11 /PRNewswire-FirstCall/ -- NutraCea (OTC Bulletin Board: NTRZ - News), a leader in stabilized rice bran nutrient research and technology, announced today the appointment of Leo G. Gingras as the Company's new Chief Operating Officer (COO), who brings over 20 years experience in industrial food operations, business and new product development.
Mr. Ike Lynch has resigned his position of COO effective today and will remain a consultant to NutraCea. Both Mr. Lynch and Mr. Gingras will reside in Phoenix, Arizona, where NutraCea is in the process of relocating its new corporate offices. Mr. Lynch has agreed to remain a consultant, on an exclusive basis, for a term of two and half years. He will maintain an active and ongoing role in operations with regard to the construction and commissioning of domestic and international plant build-outs.
"I look forward to working closely with Leo, a man whose reputation and experience I believe to be unequaled in the industry. Having him on board, not only gives the company more management depth, but also gives a layer of operational redundancy that is so important at a time when we are experiencing rapid and unprecedented growth", said Ike Lynch of NutraCea.
Mr. Gingras most recently served as Vice President of Soy Processing and Technical Services at Stuttgart Arkansas based Riceland Foods Inc., a farmer- owned cooperative engaged in the processing and marketing of rice, soybeans and wheat with annual sales of $950 million and a workforce of 1,800. In that capacity, Mr. Gingras oversaw business units with sales of over $320 million and a workforce of several hundred, and was responsible for the Company's research, quality and workforce development. He also developed and marketed new products, and developed and executed strategic plans for value-added rice products. While at Riceland, he held a variety of integral positions, which included Division Manager, Manager of Oil Operations and Quality Assurance Manager. Prior to Mr. Gingras' employment at Riceland Foods, he was the Research and Development Manager at Lou Ana Foods, Inc. (Opelousas, LA), a company that processes, packages and markets edible oils with annual sales of $120 million and was recently acquired by Ventura Foods Inc.
"During my tenure at Riceland Foods, my responsibilities included staffing, training, and overseeing rapid and profitable growth in multiple divisions focused on the implementation of specialized technology and execution of strategic growth of value added products as well as initiating many new and successful business ventures. I also achieved a myriad of goals which resulted in significant revenue increases for the company," stated Mr. Gingras. "I'm looking forward to bringing my many years of knowledge and expertise to NutraCea as Chief Operating Officer and becoming an integral part of the team for the ramp up phase of anticipated rapid growth to meet the world demand for stabilized rice bran."
Bradley Edson, NutraCea President and CEO, commented, "I am extremely pleased to have Mr. Gingras join the NutraCea team. With his extensive experience in executive management and operations he will be an essential part of our organization's anticipated growth and future accomplishments."
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.