"Since founding the Company in 2000, Luc Dupont has successfully established Atrium as a world class company. With Atrium having matured at all levels including its commercial activities and its top management, Luc Dupont recommended to the Board of Directors that the time was right to name a new president to guide the Company through its next phase of development. This does not represent a departure on Mr. Dupont's behalf since he will ensure a smooth transition with the new president until the end of the year. He will continue to be a Board member and will also become Chairman of the Executive Committee," Mr. Laurin said.
"Atrium now has a critical mass and a strong management team in place. The addition of a highly qualified person like Pierre Fitzgibbon will complete our team and will allow me to become Chairman of the Executive Committee and to focus on the vision and business strategies to support the growth of Atrium," underlined Mr. Luc Dupont.
After a long and thorough process, the Board of Directors approved the selection committee's choice and appointed Mr. Pierre Fitzgibbon as President and Chief Executive Officer. He will assume his duties as of July 2007.
Mr. Pierre Fitzgibbon comes to us with an impressive background, having held positions in the areas of corporate strategy, financing as well as in mergers and acquisitions, all of which are of utmost importance to Atrium. He was Senior Vice-President, Finance, Technology and Corporate Affairs of the National Bank of Canada, after being responsible for advisory services and corporate financing at National Bank Financial in Quebec, as Vice-Chairman. In addition, he gained extensive experience in the international arena as CEO of an investment fund and of a telecommunications company in Hong Kong. Mr. Fitzgibbon also learned a great deal about the operational aspects of business, especially at Domtar, where he held several executive positions. Mr. Pierre Fitzgibbon holds degrees in finance and administration.
"Atrium has positioned itself as a key player in the active ingredients and nutritional supplements markets. It is growing at a phenomenal pace. I am sincerely pleased to take the helm of the Company and to lead a team of highly qualified and experienced professionals. I am looking forward to working with them and to pursue the Company's business strategy, to innovate with them and to strengthen the Company's leadership position," added Mr. Pierre Fitzgibbon, the new President and CEO of Atrium Innovations Inc.
Mr. Laurin also wishes to recognize Mr. Luc Dupont's outstanding contribution since the Company was founded. "Mr. Luc Dupont consistently exceeded the Board's objectives. His efforts have helped us become a world-class company and he was able to create a solid and experienced management team and to provide the Company with a focused vision. Today, we are a public company with revenues of over US$300 million and one of Canada's fastest growing corporations. We can now continue building on our strong foundation. We are very happy that Mr. Dupont will continue to be active within the Company as Chairman of the Executive Committee and as a member of the Board of Directors."
About Atrium
Atrium Innovations Inc. is a recognized leading developer, manufacturer and marketer of science-based products for the cosmetics, pharmaceutical, chemical and nutrition industries. The Company focuses primarily on growing segments of the health and personal care markets which are benefiting from the trends towards healthy living and the ageing of the population. Atrium markets a broad portfolio of active ingredients, specialty chemicals and health and nutrition finished products through its highly specialized sales and marketing network in more than 50 countries, primarily in North America, Europe and Asia. Atrium has over 560 employees and operates four manufacturing facilities. Additional information about Atrium is available on its Web site at www.atrium-innov.com.
Cautionary Note and Forward-Looking Statements
This press release contains certain forward-looking statements with respect to the Company. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by these forward-looking statements. The Company considers the assumptions on which these forward-looking statements are based to be reasonable, but cautions the reader that these assumptions regarding future events, many of which are beyond its control, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect the Company. For additional information with respect to these and other factors, see the Company's quarterly and annual filings with the Canadian securities commissions. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law.
Source: Atrium Innovations Inc.
