DAVIS, CA--(Marketwire - March 31, 2010) - AgraQuest Inc. today announced that Joel R. Jung has been named Chief Financial Officer effective immediately. Reporting directly to AgraQuest CEO, Marcus Meadows-Smith, Jung will provide leadership to the AgraQuest finance and information technology groups.
Jung comes to AgraQuest with 14 years of experience as an executive in the life sciences and biotechnology industry, most recently as CFO of Celera Corporation where he led the finance and information technology groups in the spinoff of Celera from Applera Corporation. Prior to the spinoff, Jung served as Vice President, Finance at Applera Corporation for the Celera Group. Jung's background also includes working at Chiron Corporation for 11 years in several executive financial positions including V.P. & Treasurer and V.P., Finance for Chiron's Blood Testing Division. He began his career at Varian Associates, Inc. and Bank of America in various financial management positions. Jung earned a Bachelor of Science in Aeronautical Engineering from Purdue University and holds an MBA from the Haas School of Business at the University of California, Berkeley.
"We are very pleased that Joel has joined us as our Chief Financial Officer. As we continue to strengthen our Executive Team to support the growth of our product portfolio and advance our pipeline of unique proprietary products, Joel's experience will be vital to our continued success. AgraQuest is fortunate to have someone with Joel's background and experience to lead our financial team as we manage our growth and prepare for a potential IPO in 2011," said Meadows-Smith.
About AgraQuest, Inc.
AgraQuest is a biotechnology company that focuses on discovering, manufacturing and marketing highly effective pest management products for agricultural, institutional and home markets. The company holds a large portfolio of its own proprietary products, as well as actively in-licenses technology that fits into its low chem portfolio. As a leader in the emerging low chem sector, AgraQuest works to provide growers with solutions that offer best in class control while reducing the chemical load on the environment. The Agrochemical division of AgraQuest offers a global portfolio of products -- recognized as safer to beneficials, workers and the environment -- that includes SERENADE®, SERENADE® Garden, RHAPSODY®, SONATA®, AND BALLAD® fungicides and BARITONE® AND REQUIEM® insecticides. AgraQuest's BioInnovations division provides the company an avenue to take biological and low-chemical technology created for the agriculture industry and discover innovative uses for it in related markets. The BioInnovations division identifies both appropriate market segments and opportunities for AgraQuest's intellectual property, while seeking industry leaders in ancillary markets to partner in the commercialization and distribution process. AgraQuest has received several environmental awards including the Presidential Green Chemistry Award from the U.S. EPA for the discovery and commercialization of SERENADE. It also received the prestigious Global Frost & Sullivan Growth Leadership Award in 2009 for the biopesticides market. For more information visit www.agraquest.com.