Loop Industries names Jeff Geygan as board chairman, splitting CEO role

Loop Industries, Inc. (NASDAQ: LOOP) has appointed Jeff Geygan as Chairman of the Board of Directors, separating the role from the CEO position previously held by founder Daniel Solomita, according to a company statement.

Solomita, who held both the Chairman and CEO titles, will continue to serve as CEO and a Director. The company said the new structure is intended to allow Solomita to focus on commercial execution, including planned projects in India and Europe, strategic partnerships, customer relationships, and the company's financing strategy.

Geygan will oversee corporate strategy, governance, capital allocation, and shareholder interests in his role as Chairman. He previously served as Chairman of Climb Global Solutions, Inc. (NASDAQ: CLMB) and Rocky Mountain Chocolate Factory, Inc. (NASDAQ: RMCF). He also serves as Chairman of Global Value Investment Corporation, which the company identified as a significant Loop shareholder.

"Jeff assuming the Chairmanship strengthens our corporate governance and alignment with shareholders, enabling me to concentrate fully on commercial and operational execution," Solomita said.

Geygan said Solomita's knowledge of the company's technology, customers, and partners makes his focus on business execution the appropriate division of responsibilities.

Loop Industries is based in Montréal, Quebec, and its shares are listed on the Nasdaq Global Market under the symbol "LOOP."

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