Amyris announce CEO transition, global reduction in force

Amyris announced that John Melo has resigned from his role as President & Chief Executive Officer and a member of the Board of Directors, effective immediately. The Company’s Board of Directors has appointed Han Kieftenbeld as Interim Chief Executive Officer. Kieftenbeld will remain as the Company’s Chief Financial Officer. The Company also announced a global reduction in force as an important step towards its previously announced cost reduction targets. As announced earlier this month, the Company has engaged the Business Recovery Services unit of PricewaterhouseCoopers to guide its transformation efforts. As part of this process, the Company aims to deliver Fit-to-Win cost actions of approximately $250M. This effort includes optimizing the costs of goods sold, reducing operating expenses and streamlining the business portfolio. “We are making tough choices including the decision to implement a reduction in force which we are executing today. We thank our departing employees for their efforts, dedication and contributions to Amyris,” said Han Kieftenbeld, Interim Chief Executive Officer and Chief Financial Officer of Amyris. “I want to thank the Board for placing confidence in me to lead Amyris through this next phase. I will work closely with my leadership team and colleagues globally to set out a path towards profitable growth and sustained cash generation.”