PHOENIX, Dec. 7 /PRNewswire-FirstCall/ -- NutraCea (OTC: NTRZ), a world leader in stabilized rice bran (SRB) nutrient research and technology, today announced the results of a meeting of the Board of Directors and of its annual Shareholders Meeting, which was held in Phoenix on Friday, December 4, 2009.
- The Shareholders elected all six candidates recommended by the Board of Directors in the Proxy mailed to Shareholders on October 27, 2009. Elected Directors will serve until the 2010 annual meeting of shareholders.
- The Board of Directors elected W. John Short Chairman of the Board. Short is the Company's Chief Executive Officer and President.
- The Board of Directors also established an Executive Committee. James C. Lintzenich, former Interim Chief Executive Officer, will Chair this newly created committee.
Short joined NutraCea as President in July 2009 and was appointed Chief Executive Officer in October. His election as Chairman of the Board follows the resignation of David S. Bensol from that position on December 3, 2009.
In commenting on these actions, Short stated, "I appreciate the confidence placed in me by the Board as we work to restructure NutraCea's business. And, I am particularly pleased by the establishment of the Executive Committee lead by Jim Lintzenich. This structure, combined with Jim's in depth knowledge of the challenges and opportunities at hand, will facilitate the focused and timely interactions between the Board and management that will be necessary to achieve the significant restructuring required for future success."
NutraCea is a world leader in production and utilization of stabilized rice bran. NutraCea holds many patents for stabilized rice bran (SRB) production technology and proprietary products derived from SRB. NutraCea's proprietary technology enables the creation of food and nutrition products to be unlocked from rice bran, normally a waste by-product of standard rice processing. More information can be found in the Company's filings with the SEC and by visiting our website at http://www.NutraCea.com.
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 possibility that some or all of the pending matters considered by the Company may not proceed as contemplated and 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.