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Burcon NutraScience Corp
Symbol BU
Shares Issued 108,708,576
Close 2022-02-28 C$ 1.17
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Burcon NutraScience appoints Kappel as interim CEO

2022-03-01 12:51 ET - News Release

Mr. Peter Kappel reports

BURCON ANNOUNCES APPOINTMENT OF PETER H. KAPPEL AS INTERIM CEO

Burcon NutraScience Corp. has appointed Peter H. Kappel, chairman of Burcon's board of directors, as interim chief executive officer (CEO), with immediate effect, until a successor is appointed by the company's board of directors.

Mr. Kappel is a former investment banker who served in senior roles at Nomura, Dresdner Kleinwort Wasserstein, Calyon and DVB Bank in London. He brings extensive experience in strategic and business management as well as a wealth of knowledge in the field of finance and investment. Mr. Kappel has served as a director on Burcon's board since 2016 and was appointed chairman of the board in September, 2021. Mr. Kappel has worked closely with management to achieve the transformational business relationships over the past few years.

As previously announced, Johann Tergesen will continue in a continuing capacity as an adviser to the company and Burcon's board of directors. The company has engaged Kincannon & Reed, an executive search firm specializing in the food and agribusiness sectors, to assist in recruiting a new CEO.

"On behalf of the board of directors and the entire team at Burcon, I want to sincerely thank Johann for his many years of service and for leading Burcon to where it is today. I am pleased to step in as interim CEO during this transition period. Our executive search for a successor who brings expertise in the specialty food ingredients space is well under way," said Mr. Kappel, chairman and interim CEO, adding, "I look forward to continuing on the company's recent progress and developments."

About Burcon NutraScience Corp.

Burcon is a global technology leader in the development of plant-based proteins for foods and beverages. With over two decades of experience formulating high-purity proteins that have superior functionality, taste and nutrition, Burcon has amassed an extensive patent portfolio covering its novel plant-based proteins derived from pea, canola, soy, hemp, sunflower seed, among other plant sources. In 2019, Merit Functional Foods Corp. was established between Burcon and three veteran food industry executives. Merit Foods has since built and commissioned a state-of-the-art protein production facility in Manitoba, Canada, that is producing, under licence from Burcon, best-in-class pea and canola proteins for the food and beverage industries.

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