- BioHarvest Sciences (CSE:BHSC) has appointed Ilan Sobel to the position of Chief Executive Officer, effective immediately
- The company’s former CEO, Dr Zaki Rakib, will stay on as President and Chairman of the Board
- BioHarvest will pay Ilan a consulting fee of C$34,547 per month, with annual increases and performance-based bonuses
- The company will also grant him options, allowing him to acquire over 18 million common shares at 14 cents each
- BioHarvest Sciences (BHSC) is down 14.29 per cent and is currently trading at 12 cents per share
BioHarvest Sciences (CSE:BHSC) has appointed Ilan Sobel to the position of Chief Executive Officer, effective immediately.
His appointment has shuffled a number of other positions in the company’s executive team. BioHarvest’s previous CEO, Dr Zaki Rakib, will become the company’s President and Chairman of the Board. As such, BioHarvest’s former President, Dave Ryan, will become the Vice President of Investor Relations.
Ilan’s predecessor, Dr Zaki Rakib, said that the appointment of the new CEO comes at an important junction.
“Ilan brings a wealth of hands-on experience, business acumen and leadership expertise in building large-scale businesses and billion-dollar brands, delivering margin-enhancing business innovation and driving productivity improvements for some of the biggest industry leaders across diverse markets,” he said.
Ilan spent the last six years as Chief Operating Officer and then Chief Commercial Officer at Weissbeerger. Previously, he spent 18 years as an employee of The Coca-Cola Company, where he held various senior leadership positions.
Ilan Sobel welcomed his appointment to the top job at BioHarvest Sciences.
“I am honoured and grateful to have this opportunity to lead a great team with such a technological platform, which has the real ability to positively impact the lives of millions of consumers,” he said.
Under the terms the agreement, BioHarvest will pay Ilan a consulting fee of C$34,547 per month. He will also receive annual performance-based bonuses, and annual increases over the agreement’s three-year term.
The company also agreed to grant Ilan options to acquire a total of 18.1 million common shares in BioHarvest. He can exercise these options at 14 cents per share, within a ten year period.
BioHarvest Sciences (BHSC) is down 14.29 per cent and trading at 12 cents per share at 12:11pm EDT.