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Brent Bailey out at Cyanotech, Gerald Cysewski returns

April 4, 2016
AlgaeIndustryMagazine.com

Gerald Cysewski founder of Cyanotech Corp., is returning to run the company. Photo: westhawaiitoday.com

Gerald Cysewski founder of Cyanotech Corp., is returning to run the company. Photo: westhawaiitoday.com

Hawaii-based Cyanotech Corporation, a leader in spirulina and astaxanthin products for the nutrition and health markets, has announced that its founder, Gerald R. Cysewski, Ph.D., has returned as interim President and Chief Executive Officer.

Effective March 31, 2016, Dr. Cysewski replaced Brent D. Bailey, who has resigned. A special committee of Cyanotech’s board of directors has begun the search for a permanent CEO.

Mr. Bailey said, “Over the last five years, net sales have nearly doubled and we have transformed Cyanotech from a bulk ingredient supplier to a branded consumer products manufacturer with leading market share in both astaxanthin and spirulina. Now I feel it is time to place more focus on my family. I love this company and believe it is well positioned for the future. It has been a privilege to lead Cyanotech.”

On behalf of Cyanotech’s board, chairman Michael Davis said, “We recognize Brent’s contributions to Cyanotech, including developing and maintaining important customer relationships and distribution channels, and upgrading its facilities and processes.

“We are pleased to have someone with Dr. Cysewski’s detailed knowledge of Cyanotech’s business and his perspective as the company’s founder to guide Cyanotech during this transitional phase. Our priority is to identify a leader who can leverage our company’s assets and leadership team to drive the next stage of Cyanotech’s growth.”

“This is an exciting time for Cyanotech and I am eager to take on the opportunities that lie ahead,” Dr. Cysewski said. “As Cyanotech continues to shift its focus to vertical integration, we believe that there are significant growth opportunities for the company in the future.”

Dr. Cysewski, who co-founded Cyanotech in 1983 and has served as a director since that time, has been Executive Vice President and Chief Scientific Officer. From 1990 to 2008, he served as the Company’s President and Chief Executive Officer, as well as Chairman of the Board.

Before founding Cyanotech, he was Group Leader of Microalgae Research and Development at Battelle Northwest, a major contract research and development firm. Previously, he was an assistant professor in the Department of Chemical and Nuclear Engineering at the University of California, Santa Barbara, where he received a two-year grant from the National Science Foundation to develop a culture system for blue-green algae.

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