VC-backed Verdezyne taps Kelsey as CFO


Carlsbad, California-based Verdezyne Inc, a producer of biobased chemicals, has named David Kelsey as chief financial officer. Kelsey is the former CFO of Elevance Renewable Sciences. Verdezyne’s backers included BP Ventures, DSM Venturing B.V., OVP Venture Partners, Monitor Ventures and Sime Darby.

PRESS RELEASE

CARLSBAD, Calif., July 26, 2016 /PRNewswire/ — Verdezyne, Inc., a synthetic biology company producing biobased chemicals, has appointed David Kelsey as Chief Financial Officer (CFO). He brings a deep leadership background with a number of established companies, both public and private.

“David brings a wealth of experience to the company as we look to become a global leader in the production of biobased chemicals,” commented E. William Radany, Ph.D., President and CEO of Verdezyne. “He has held leadership roles in a number of industries, from finance to renewable chemicals, and his expertise is exactly what Verdezyne needs at this exciting juncture.”

Kelsey was CFO of Elevance Renewable Sciences from 2011 to 2015. Prior to that he was Senior Vice President and CFO of Sealed Air Corp (NYSE: SEE), a Fortune 500 company and a leader in global manufacturing of a variety of food, protective and specialty packaging materials and systems. From 1973 he held a variety of executive positions with General Electric (NYSE: GE) and GE Capital.

“This is an exciting time to join a market leader such as Verdezyne, particularly with the global market for biobased chemicals expanding at a rapid clip,” said Kelsey. “I look forward to working with the management team to execute on the company’s strategic plan.”

Kelsey serves as a director and chair of the audit committee of Granite Construction, Inc. (NYSE: GVA). He earned a Bachelor of Science degree in Engineering from Princeton University and an MBA from Harvard Business School.

Kelsey replaces Brian Conn, who left the company in February of this year.

About Verdezyne
Verdezyne is a synthetic biology company offering biobased chemicals developed using proprietary metabolic pathway engineering tools. The company’s first product, BIOLON™ DDDA, earned the USDA Certified Biobased Product label, and is available worldwide. Current investors in Verdezyne include BP Ventures, DSM Venturing B.V., OVP Venture Partners, Monitor Ventures, and Sime Darby.

For more information, visit www.verdezyne.com or connect with the company on Twitter, LinkedIn or Facebook.

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