Loop Industries, Inc. Announces Board of Directors and Audit Committee Changes
October 07, 2019 at 04:33 pm EDT
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On May 10, 2019, Loop Industries, Inc. filed its Definitive Proxy Statement wherein it disclosed that Mr. Willy Kruh would join its Board of Directors and Chair the Audit Committee effective October 1, 2019. The Company no longer plans to appoint a new director and has no short-term plans to increase the size of the Board of Directors. Laurence Sellyn, the Company’s independent lead director, is assuming the Chair of the Audit Committee. Sidney Horn, an independent director, will Chair the Nominating and Governance Committee, of which Mr. Sellyn is the Chair. Lastly, Andrew Lapham, an independent director, has assumed the Chair of the Compensation Committee.
Loop Industries, Inc. is a Canada-based clean technology company. The Company owns patented and proprietary technology that depolymerizes noand low-value waste polyethylene terephthalate (PET) plastic and polyester fiber, including plastic bottles and packaging, carpets and textiles of any color, transparency or condition and ocean plastics that have been degraded by the sun and salt, to its base building blocks (monomers). The monomers are filtered, purified and polymerized to create virgin-quality Loop branded PET resin suitable for use in food-grade packaging and polyester fiber, thus enabling its customers to meet their sustainability objectives. Its Infinite Loop provides an end-to-end industrial solution to supply the global demand for Loop PET resin made from recycled content. Loop PET plastic and polyester fiber can be recycled infinitely. The Company reduces plastic waste and recovering waste plastic.
LOOP INDUSTRIES, INC. 
