Kraig adds COO Jon Rice to its board of directors

24 Oct '19

2 min read

Pic: Kraig Biocraft Laboratories

Kraig Biocraft, one of the leading developers of spider silk based fibres, has announced that it has selected Jon Rice, the company’s COO, to join its board of directors, as the company advances and strengthens its corporate governance. The company, headquartered in the US, develops genetically engineered spider silk based fibre technologies.

Rice has served as the COO of Kraig Biocraft since 2015. In this role, Rice has overseen and led operations at the company’s domestic research and development headquarters as well as the recent breakthroughs in the scale-up of its international production operations, through its subsidiary, Prodigy Textiles. Prior to joining Kraig Labs, Rice served in a series of leadership roles developing and marketing advanced power systems, developed under contract with the US department of defence, which were successfully leveraged into commercial spinoff products. Rice blends technical and business operations expertise, holding a degree in both engineering and a master’s in business administration, according to a media statement by the company.

Rice’s term is expected to begin this quarter. Once formally seated, Rice, and the three recently announced new independent directors, will join Thompson to form the majority independent controlled board, which is intended to satisfy the up-listing requirement of a national exchange.

The addition of Rice to the board will strengthen the overall skill set, perspective, and experience necessary to support and drive growth for all of the company’s stakeholders. Rice’s understanding of Kraig’s operations will provide a strong link to the board’s fiduciary oversight responsibilities.

“We are pleased to welcome Rice, with his first hand working knowledge and experience of implementing our operations, to the Kraig Labs board. Jon’s role and understanding of our company, from the inside, will serve as a crucial bridge between day to day operational management and board governance,” chairman and CEO, Kim Thompson said.

“I am excited for the opportunity to expand my service to Kraig Labs and our shareholders in this new role. The advancement we are making in all aspects of our business model, from research to governance and commercialisation, make this a fantastic time to be part of Kraig Labs and our exciting growth,” Rice said.

Fibre2Fashion News Desk (GK)

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