Business
Loop Announces Transition in CFO Position
MONTREAL, QC / ACCESSWIRE / December 22, 2022 / Loop Industries, Inc. (Nasdaq:LOOP) (the "Company" or "Loop"), a clean technology company whose mission is to
About this update from Loop Industries, Inc.
[{"type":"text","content":"MONTREAL, QC / ACCESSWIRE / December 22, 2022 / Loop Industries, Inc. (Nasdaq:LOOP) (the \"Company\" or \"Loop\"), a clean technology company whose mission is to accelerate a circular plastics economy by manufacturing 100% recycled polyethylene terephthalate (\"PET\") plastic and polyester fiber, today announced a transition in the position of CFO. This change is announced in conjunction with other operational and strategic initiatives which are communicated today in a separate press release.Effective December 30, 2022, Drew Hickey will leave the Company to pursue other opportunities and Nicolas Lafond is appointed Interim Chief Financial Officer, while the Company evaluates its longer-term needs for this role as it pursues the next stage of its strategic development.Mr. Lafond currently serves as the Company's Director of Finance. Mr. Lafond is a Canadian CPA who joined Loop from public accounting in 2017. During his tenure with Loop, Mr. Lafond has assumed increasing responsibilities within the Company, including corporate affairs and Board matters in addition to financial reporting. Loop's Finance department is also well supported by Mike De Notaris, Vice President Corporate Development.Daniel Solomita, Loop's Founder and CEO, and the entire Board of Directors wish to express their full confidence in Mr. Lafond in his new role and thank Drew Hickey for his contributions to the Company.About Loop IndustriesLoop Industries is a technology company whose mission is to accelerate the world's shift toward sustainable PET plastic and polyester fiber and away from our dependence on fossil fuels. Loop Industries owns patented and proprietary technology that depolymerizes no and low-value waste PET plastic and polyester fiber, including plastic bottles and packaging, carpets and textiles of any color, transparency or condition and even ocean plastics that have been degraded by the sun and salt, to its base building blocks (monomers). The monomers are filtered, purified and polymerized to create virgin-quality Loop™ branded PET resin suitable for use in food-grade packaging and polyester fiber, thus enabling our customers to meet their sustainability objectives. Loop™ PET plastic and polyester fiber can be recycled infinitely without degradation of quality, successfully closing the plastic loop. Loop Industries is contributing to the gl...