Marrone Bio Innovations, Inc. (MBI), a manufacturer of certified-organic and natural pest management products for crops, said Monday that its founder, Dr. Pamela Marrone, will retire from her position as CEO after 14 years at the helm.
Davis, Calif.-based Marrone (Nasdaq:MBII), which had changed its name from Marrone Organic Innovations, Inc. in 2009, said its board has begun a search for a new CEO and Marrone will continue as CEO during the search process.
Following her retirement, Marrone will serve as a consultant to Marrone Bio to advocate for the company and its mission, and to provide transition services and other support. She will also continue to serve on the company’s board of directors as a non-executive member.
“Dr. Marrone’s decades of unwavering and tireless dedication have shaped the landscape of biologicals in agriculture in a meaningful and positive way. We’d like to thank her for her vision and leadership, which has established Marrone Bio as a significant player in the sustainable bioprotection and plant health solution industry,” said board chairman Bob Woods. “Pam has guided Marrone Bio to a new level of growth and expansion, and her legacy will serve as the platform for the company’s future growth.”
The company said under Marrone’s leadership it commercialized 10 products from six active ingredients, three of which received top industry awards for “best biopesticide.” The company has received nearly 400 patents with another 100 pending.
During her tenure as CEO, Marrone Bio consistently achieved above industry average growth with revenues expanding at a 21 percent compound annual growth rate from 2015 through 2018, the company said.
“Today, we stand stronger than ever as a company with a world-class team in place and an unmatched product portfolio, aided by our recent transformational acquisitions,” said Marrone. “After 14 years as CEO, this is an ideal time for me to serve Marrone Bio in a different, advisory capacity as the company enters its next phase of growth and drives meaningful, long-term shareholder value.”