Zoltek Companies, Inc. Appoints New Independent Director
On Thursday May 7, 2009, 4:15 pm EDT
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ST. LOUIS, May 7, 2009 (GLOBE NEWSWIRE) -- Zoltek Companies, Inc. (NasdaqGS:ZOLT - News) today reported that at its regular quarterly meeting held May 2, 2009, the Board of Directors appointed Pedro Reynoso as a director for a term expiring at the 2010 annual meeting of shareholders. Mr. Reynoso succeeds James Betts who retired from the Board effective with Mr. Reynoso's appointment.
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Mr. Reynoso, age 64, is President and CEO of Planfin, S.A. de C.V., a Mexican consulting firm he founded in 1982, and also serves as Director of Operations for the textile and packaging divisions of Cydsa, S.A. de C.V., a publicly traded Mexican company that operates in the chemical and textile markets, a position Mr. Reynoso has held since 2002. Before joining Cydsa, Mr. Reynoso served in various executive and operating positions in manufacturing and financial services businesses. He also has served on the Boards of Directors of various publicly traded and privately owned Mexican companies active in a range of industries, including mining, real estate, textiles, electronics and energy. Mr. Reynoso is a Mexican national who spent his elementary and high school years studying at St. Joseph's Academy in Brownsville, Texas, and then studied at Instituto Tecnologico y de Estudios Superiores de Monterrey in Monterrey, Mexico, where he earned a Bachelor's degree, with honors, in Public Accounting. The Company has determined that Mr. Reynoso is an independent director under Nasdaq rules.
Zsolt Rumy, Zoltek's Chairman and CEO, commented, ``We are delighted that we were able to recruit Pedro to join the Zoltek Board. With the successful acquisition and retrofit of our facility in Guadalajara, our Mexican operations will be a key element in our future growth strategy and we expect Pedro will be an invaluable asset for us in that area. We have worked with Pedro in his role on behalf of Cydsa and came to respect his professionalism and expertise.'
Mr. Rumy added, ``On behalf of all Zoltek's shareholders, I also want to recognize Jim Betts for his many contributions as a Board member since our IPO in 1982. Jim has always been there for us, and we sincerely appreciate his friendship and willingness to generously share his background and experience as a respected chemical industry executive. We wish Jim all the best in his retirement.'
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