Allen, age 65, retired from Nestlé in December 2009 after a 30-year career in sales, marketing and general management. He joined ChromaDex’s Board as an independent director in January 2014. He also co-founded and is a member of the Screening Committee of Nutrition Capital Network, and is also the managing partner of California Agricultural Orchards LLC.
“Having been a board member for the past year has allowed me to have a deeper appreciation for the company’s management, unique business model and the portfolio of our patented ingredient technologies,” he said. “Our reputation is exemplary and the momentum in our patented Niagen nicotinamide riboside is robust. I am proud to accept the appointment and look forward to leading the ChromaDex board and working with our management team to create and maximize shareholder value.”
“Steve brings an exceptional track record to ChromaDex and is a renowned and highly respected figure within our industry,” said Frank Jaksch, Jr., CEO and co-founder of ChromaDex. “His tremendous insight, experience and stature will be a great asset to both our Board and management team. Simply put, Steve’s appointment as Chairman is a coup for ChromaDex and its shareholders.”
ChromaDex also announced the resignation of Barry Honig and Michael Brauser from its board, thereby reducing the board from nine to seven.
“By reducing the number of directors to seven, it allows for additional new appointments that would bring more relevant experience and industry stature on to our board,” said Jaksch.