TORONTO, Canada – August 31, 2015 – Cyclica’s Board of Directors is pleased and excited to announce that they have appointed Paul Angelico to serve as President and CEO. Cyclica’s original Founder and CEO, Jason Mitakidis, will become Chief Technology Officer, effective immediately. Over the past 2.5 years, Jason has done a commendable job building the company from an idea into a viable enterprise.
Paul brings to Cyclica over 30 years of business leadership and proven management experience, as he has led start-ups, turn-around, and growth enterprises. Following a 17 year career at Procter & Gamble, in 1994 Paul co-founded and served as President of Twin Rivers Technologies (TRT), a $350 million revenue company servicing the oleo chemicals, renewable energy and food ingredients markets. In 2009, after building TRT into the largest company of its kind in North America, Paul and the TRT team sold the company for an attractive multiple to the Federal Land Development Agency of Malaysia. From 2009 to 2011, Paul dedicated his time to management consulting, providing business turnaround, business growth, and work culture re-engineering services across multiple sectors, including the healthcare, energy, and transportation sectors. In 2011, he joined Aurora Algae as COO, and in 2014 was appointed as President and CEO. Aurora was a California-based biotechnology company that was pioneering sustainable algae-derived products for health, food nutrition, and pharmaceutical markets. Throughout his career, Paul has consistently demonstrated strong leadership-by-example principles, proven operational expertise, and experience building and growing start-up companies across multiple sectors, including biotechnology, nutraceutical, and consumer products. His state-of-the-art foundational management experience and focused strategy will help grow Cyclica’s sales and profitability.
Says Jason Mitakidis: “We are excited to have Paul join the company at this stage of its development. His hands-on approach, operational expertise, tactical experience, and drive will help ensure Cyclica’s success."
Says Dr. Kabir Jivraj, Director: “Paul’s professionalism, experience, and energy complement an already strong team, and we are excited to have him on board to lead the company towards becoming the dominant market player.”