Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company”), the leading developer of spider silk based fibers, announces today that, with the appointment of Mr. Greg Scheessele, as the third and final independent Board member, it has completed the selection of independent members for its Board of Directors
Mr. Scheessele currently serves as the CEO of Gerette, LLC and has held several top executive roles in global manufacturing firms including: Executive Vice President, TMD Americas at TMD Friction Holdings GmbH; Group Vice President, Global Operations at Pall Corporation and Gelman Sciences; and Manufacturing Manager at General Motors Powertrain Division. Mr. Scheessele has served on various corporate and non-profit boards over the past twelve years.
Over the last two weeks the Company announced the selections of three new independent directors scheduled to join the Company’s board during the fourth quarter, including Mr. Anurag Gupta, Ms. Julie Bishop, and Mr. Greg Scheessele. The Company anticipates selecting one additional inside director to round out its board.
“We are pleased to welcome Greg to the Kraig Lab’s board in the role of an independent director,” said chairman and CEO, Kim Thompson. “Greg’s background, experience, and leadership focused in businesses with global operations in manufacturing, industrial and life sciences sectors will be a tremendous asset to our corporate strategy as we continue on our growth trajectory. With this announcement, the Company has reached a new and important milestone in its corporate governance, advancing our business model.”
The addition of Mr. Scheessele to the board will expand the overall skillset, perspective and experience necessary to support and drive growth for all of the Company’s stakeholders. Mr. Scheessele has a strong history of leading successful business operations on a global scale.
Mr. Scheessele’s term will begin during the fourth quarter and he will serve on the audit and compensation committees for the duration of his time as a director.
Once these three new independent directors are formally seated, during the fourth quarter, the Company will be governed by a majority of independent directors, which is a key requirement for listing on a national exchange.
“I am very excited to join the Kraig Biocraft Laboratories board,” said Mr. Scheessele. “I look forward to supporting Kim Thompson and his team with their exciting work focusing on the development and commercialization of spider silk.”
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About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a reporting biotechnology company is the leading developer of genetically engineered spider silk based fiber technologies.
The Company has achieved a series of scientific breakthroughs in the area of spider silk technology with implications for the global textile industry.
Cautionary Statement Regarding Forward Looking Information
Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.