Concentric Ag Corp., Denver, a developer of biological and plant nutrient inputs, announced on Feb. 27 that its president and CEO, Donald R. Marvin, will transition within the next few months to become the executive chairman of its board of directors. He joined Concentric (formerly Inocucor) as CEO when it was a virtual agriculture technology startup in 2014.
The company noted that it has grown from one small office in Montreal to three collaborative business units with more than 60 registered biological and plant nutrient products in the market across North America.
This change is part of a succession plan developed by Marvin in concert with Concentric’s board of directors. He will serve as acting CEO until a successor is named, and will be an adviser to the new CEO during the transition. In his new role, he will oversee strategy formation, corporate finance, and communications activities, including mergers and acquisitions that align with Concentric’s short- and long-term business goals.
“Don will manage Concentric’s growth strategy in the biological and associated plant health markets,” said Jim Blome, independent non-executive chairman of Concentric’s board, who will assume a new role as independent lead director following the transition. Concentric plans to seek additional growth equity capital in the near future to fuel its global expansion plans.
During 2018, Concentric acquired ATP Nutrition, a producer of science-based essential plant nutrient products based in Oak Bluff, Manitoba. It also opened a 30,000-square-foot U.S. headquarters and commercialization office in Centennial, Colo., and doubled the size of its Montreal R&D Technical Center of Excellence to 20,000 square feet. Concentric said that it plans to add 20-25 high-level scientific and managerial professionals over the next 18-24 months.