Cereplast, Inc. Appoints Michael Okada as Chief Financial Officer
EL SEGUNDO, Calif., Feb. 7, 2013 (GLOBE NEWSWIRE) -- Cereplast, Inc.
(OTCQB:CERP) (the "Company"), a leading manufacturer of proprietary biobased,
compostable and sustainable bioplastics, today announced that it has appointed
Mr. Michael Okada as Chief Financial Officer, effective February 5, 2013. Mr.
Okada has been the acting Interim Chief Financial Officer of the Company since
Over the past year, Mr. Okada has demonstrated considerable accounting and
business strength, instilling confidence in the Board of Directors that he
will continue to excel in the role of Cereplast's Chief Financial Officer. Mr.
Okada joined the Company in April 2011 as Vice President and Corporate
Controller and was appointed to the role of Chief Accounting Officer and
Interim Chief Financial Officer in February 2012.
"We are excited to promote Michael as our CFO as he has made exceptional
contributions to the Company during the past two years," stated Cereplast
Chairman and CEO Mr. Frederic Scheer. "Michael's sound judgment, strong
financial and operational expertise, and his broad understanding of our
business and clients will make him an effective CFO for Cereplast. He is a key
member of our senior management team, and we felt that with our current growth
projections and expected sales volume for 2013, that now was the time to
formally appoint him as our new CFO."
Mr. Okada commented, "I am honored to accept the role as Cereplast's Chief
Financial Officer, and look forward to the Company generating strong,
long-term results for our shareholders. We are at a critical inflection point,
where we are poised to take advantage of emerging growth opportunities in the
Mr. Okada has a proven track record of success with over twenty years of
experience in senior executive roles leading corporate finance and accounting
organizations for both private and publicly-traded growth companies. He
received his Bachelor's degree in Accounting from Santa Clara University and
is a Certified Public Accountant.
About Cereplast, Inc.
Cereplast, Inc. (OTCQB:CERP) designs and manufactures proprietary biobased,
sustainable bioplastics which are used as substitutes for traditional plastics
in all major converting processes - such as injection molding, thermoforming,
blow molding and extrusions - at a pricing structure that is competitive with
traditional plastics. On the cutting-edge of biobased plastic material
development, Cereplast now offers resins to meet a variety of customer
demands. Cereplast Compostables® resins are ideally suited for single-use
applications where high biobased content and compostability are advantageous,
especially in the food service industry. Cereplast Sustainables® resins
combine high biobased content with the durability and endurance of traditional
plastic, making them ideal for applications in industries such as automotive,
consumer electronics and packaging. Learn more at www.cereplast.com. You may
also visit the Cereplast social networking pages at Facebook.com/Cereplast,
Twitter.com/Cereplast and Youtube.com/Cereplastinc.
The Cereplast, Inc. logo is available at
CONTACT: Cereplast, Inc.
(310) 615-1900 x154
Alliance Advisors, LLC
Cereplast, Inc. Logo
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