New Generation Biofuels Holdings, Inc. announced yesterday that it has appointed Mr. Cary Claiborne as its new President and Chief Executive Officer. Mr. Claiborne will also retain his role as Chief Financial Officer and has joined the Board of Directors.
In late 2007, Mr. Claiborne joined New Generation Biofuels as the company’s Chief Financial Officer. Prior to this role, he had a distinguished career as the Chief Financial Officer of Osiris Therapeutics (NASDAQ: OSIR), as well as in various roles with leading American corporations, including Constellation Energy (NYSE: CEG), Home Depot (NYSE: HD) and General Electric (NYSE: GE).
“Cary brings considerable experience and leadership to this company and is well-qualified to guide New Generation Biofuels through the next phase of its business development, as we ramp production in our Baltimore plant, begin meaningful deliveries against our existing contracts, sign up new customers and implement cost control measures to improve efficiency,” commented Lee Rosen, Chairman of the Board of New Generation Biofuels. “I join other directors in thanking David for his contribution, and I wish him the best of luck with his future endeavors.”
“I am extremely pleased to take on this new role and look forward to leading an organization that I believe possesses such great potential to become the leader in the next generation of renewable fuel technology,” stated Cary Claiborne, President, Chief Executive Officer and Chief Financial Officer of New Generation Biofuels.
Earlier today, New Generation Biofuels Holdings hosted a conference call to provide an update on the company. For a replay of the call, which will be available through 3/26/09, please dial 1-877-660-6853 and enter passcode 317550. International callers should dial +1-201-612-7415 Replay ID# 317550.