EMERYVILLE, Calif., Oct. 09, 2017 (GLOBE NEWSWIRE) -- Amyris, Inc. (Nasdaq:AMRS), the industrial bioscience company, today announced that Eduardo Alvarez, an experienced executive who has led operational and technology-enabled transformations for Fortune 100 companies, joined Amyris as Chief Operating Officer, subject to approval by the Company's Board of Directors in its upcoming quarterly meeting. This new position has been created to support the continued strong revenue growth of Amyris's business. Alvarez reports to John Melo, Amyris President and CEO.
Alvarez has over 30 years of global, multi-functional, operations experience both running and advising growth companies. Previously, he served as Global Operations Strategy Leader for PwC. During his tenure, he co-led the integration of his prior company, Booz & Company, following its acquisition by PwC. In his role, he grew operations into a global practice with $1.5 billion in revenue and 4,000 employees.
His assignments focused on delivering structural cost improvements while also driving sustained revenue growth. His experience also includes roles at General Electric and AT&T. Alvarez holds a Master of Business Administration with honors from Harvard University, a Master of Science in Mechanical Engineering in computer control and manufacturing from the University of California, Berkeley, as well as a Bachelor of Science degree in mechanical engineering with high honors from the University of Michigan.
"With the successful transition of our Company into one of the fastest growing sustainable health, nutrition and personal care ingredients businesses in the world, we are now in need of operational leadership to support our growth," said John Melo, Amyris President & CEO. "Eduardo's skill set and successful record of accomplishment in delivering company growth will be essential as we evolve from delivering over $100 million in annual revenue to reach and sustain $500 million in annual revenue. We are very pleased with our performance this year, and very excited at the focus Eduardo will bring to removing variability from our production and helping us consistently execute on our customer delivery and product pipeline."
"I'm excited to join Amyris to support its already substantial momentum as a leading company in its sector," said Eduardo Alvarez, Chief Operating Officer. "The global opportunity for renewable products supported by Amyris is evident and I'm excited to be a part of what I believe will be a large wave of growth for the company in the years ahead."
Amyris is the integrated renewable products company that is enabling the world's leading brands to achieve sustainable growth. Amyris applies its innovative bioscience solutions to convert plant sugars into hydrocarbon molecules and produce specialty ingredients and consumer products. The company is delivering its No Compromise® products across a number of markets, including specialty and performance chemicals, flavors and fragrances, cosmetics ingredients, and pharmaceuticals and nutraceuticals. More information about the company is available at www.amyris.com.
This release contains forward-looking statements regarding Amyris, and any statements regarding Amyris other than statements of historical facts could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding future events (such as the expected appointment by the Company's Board of Directors of Mr. Alvarez as Amyris's Chief Operating Officer, anticipated revenue, revenue growth and business growth, and expected improvements in production efficiency and execution on customer delivery and product pipeline) that involve risks and uncertainties. These statements are based on management's current expectations and actual results and future events may differ materially due to risks and uncertainties, including risks related to manufacturing capacity at Amyris's Brotas facility, delays or failures in development, production and commercialization of products, liquidity and ability to fund capital expenditures, Amyris's reliance on third parties to achieve its goals, and other risks detailed in the "Risk Factors" section of Amyris's quarterly report on Form 10-Q filed on August 14, 2017. Amyris disclaims any obligation to update information contained in these forward-looking statements whether as a result of new information, future events, or otherwise.
Amyris, the Amyris logo and No Compromise are trademarks or registered trademarks of Amyris, Inc.