Full Press Release Details
| News Release | Contact: Bruce Russell | |
| (310) 559-4955 x101 | ||
| brussell@cyanotech.com |
Cyanotech s Board of Directors
Names David I. Rosenthal as Interim President and CEO
KAILUA KONA, Hawaii (March 1, 2010) The Board
of Directors of Cyanotech Corporation (Nasdaq Capital Market: CYAN), has named
David I. Rosenthal as Interim President and Chief Executive Officer, effective February 27,
2010, while a search is underway for a new CEO. He replaces Andrew H. Jacobson,
who was removed from his responsibilities of President and Chief Executive
Officer by the Board.
Mr. Rosenthal, age 55, has served on the Board of
Directors of Cyanotech since November 2000 and is a member of the Audit
Most recently, Mr. Rosenthal
was Chief Financial Officer of Hickory Farms, Inc., a private company
provider of specialty food and gift products.
Mr. Rosenthal has also served as Chief Financial Officer of several
publicly-held companies, including SpectaLink Corporation, a manufacturer of
wireless phone devices for the workplace with revenues of approximately $140
million, StarTek, Inc., a business process management company with
revenues of approximately $250 million, and Celestial Seasonings, Inc., a
manufacturer and marketer of specialty tea products with revenues of
approximately $120 million.
About Cyanotech Cyanotech Corporation, a world leader in microalgae
technology, produces BioAstin
Natural Astaxanthin and Hawaiian Spirulina Pacifica all
natural, functional nutrients that leverage our experience and reputation for
quality, building nutritional brands which promote health and well-being.
Cyanotech s Spirulina products offer complete nutrition, and augment energy and
immune response. They are FDA reviewed and accepted as Generally Recognized as
Safe (GRAS) for use in food products. BioAstin s superior antioxidant activity
and ability to support and maintain a natural anti-inflammatory response
enhance skin, muscle and joint health. All Cyanotech products are produced from
microalgae grown at its 90-acre facility in Kona, Hawaii using patented and
proprietary technology. Cyanotech distributes to nutritional supplement,
nutraceutical and cosmeceutical manufacturers and marketers in more than 40
countries worldwide. Cyanotech was
the first microalgae company in the world to obtain quality management
standards ISO 9001:2000 certification and is
GMP-certified by the Natural Products AssociationTM. Visit www.cyanotech.com for more
Harbor Statement under the U.S. Private Securities Litigation Reform Act of
Besides statements of
present fact and historical fact, this press release may contain
forward-looking statements.
Forward-looking statements relate to the future and are subject to
inherent uncertainties, risks and changes in circumstances which are difficult
to predict. Our actual results may differ materially from those contemplated by
forward-looking statements. We caution
against relying on forward-looking statements.
Important factors that could change actual, future results include: changes in sales levels to our largest
customers, weather patterns in Hawaii, production problems, risks associated
with new products, foreign exchange fluctuations, and availability of financing,
as well as national and global political, economic, business, competitive,
market and regulatory conditions. Other
factors are more fully detailed in the Company s recent Form 10-Q and
annual Form 10-K filings with the Securities and Exchange Commission.
73-4460 Queen Kaahumanu Highway, #102 ~
Kailua-Kona, Hawaii 96740
(808) 326-1353 fax (808) 329-3597 ~ www.cyanotech.com