Davis, California, USA
July 14, 2016

Arcadia Biosciences, Inc. (Nasdaq: RKDA), an agricultural technology company, announced the resignation of two members of its board of directors, effective July 9, 2016.

Matthew A. Ankrum and James R. Reis notified the company of their resignations by email in response to a personnel decision made by Arcadia’s CEO, Raj Ketkar. Ketkar had declined to extend a formal written offer to a CFO candidate after making a verbal proposal of employment terms. The Board had selected the candidate following a coordinated search prior to Ketkar’s employment, which began on May 23, 2016. Ketkar determined that he wanted to personally interview additional candidates before making a final decision.

Reis was the chair of the board’s Audit committee, and Ankrum was a member of the Audit and Compensation committees. On July 13, 2016, the board elected Uday Garg and Rajiv Shah, MD to the Audit Committee.

”We would like to thank Matt and Jim for their service,” said Darby Shupp, chair of the board of directors. “We are committed to recruiting new independent directors and a CFO that will enhance our management team and Board.”

Website: http://www.arcadiabio.com

Published: July 14, 2016