20. Feb 2017
Renewable materials company BioAmber Inc. announced today that Jean-Francois Huc has resigned as President and CEO and Fabrice Orecchioni, the company’s COO, has been named President, effective immediately.
In his role as COO over the past four years, Fabrice has overseen the construction, start-up and operation of the manufacturing plant in Sarnia and the management of the Mitsui JV. Fabrice has also been extensively involved in the recent negotiations with CJ CheilJedang. The two companies signed a non-binding letter of intent in December, under the terms of which BioAmber and CJCJ propose to establish a joint venture in China to produce up to 36,000 metric tons of bio-succinic acid annually and commercialize the output in Asia.
The goal is to competitively produce bio-succinic acid in China and quickly penetrate the world's large succinic acid market. According to the companies, this could be achieved rapidly, cost effectively and with limited capital investment by retrofitting an existing CJCJ fermentation facility with BioAmber's succinic acid technology.
Mr. Huc, who stepped down for personal reasons, will remain a member of the board of directors and will also assume an advisory role with the management team to help ensure a smooth transition. (KL)
http://www.bio-amber.com