MONTREAL (Canada) / ACCESSWIRE / April 8, 2021 / The Board of Directors of Loop Industries, Inc today announced that Ms. Louise Sams has been appointed to the Board effective immediately.
Appointment of New Director
Ms. Sams retired in 2019 from a distinguished career as Executive Vice President and General Counsel of Turner Broadcasting, Inc, a position she had held since 2000. In this role, Ms. Sams oversaw the whole gamut of the Company’s legal activities and played a valued role on its executive leadership team.
Since her retirement from this position, she has joined the boards of two US publicly listed companies and currently serves as the Chair of the Board of Trustees of Princeton University. She has previously served on the boards of various cultural and charitable organizations.
“I am delighted to welcome Louise Sams as an independent member of our Board of Directors,” said Daniel Solomita, Loop’s Founder, Chairman and CEO.
“Her business experience and advice will be extremely valuable as we proceed with the implementation of our plans for global commercialization of our technology. In addition, we have asked Louise to chair our Governance Committee and will benefit from her knowledge of best corporate governance practices in large, sophisticated organizations.”
Loop also announced that its independent directors have completed a review of the allegations contained in the short seller report issued on October 13, 2020. The independent directors of Loop commissioned a leading Canadian law firm to conduct a thorough and comprehensive investigation, which included interviews with current and former employees and a review of thousands of documents and emails.
After this lengthy process, combined with the conclusions of the independent review of the Company’s technology which were announced on December 14, 2020, the independent directors are unanimous in confirming that they are entirely satisfied that there was no falsification of testing results and that the Company’s highly qualified engineering and scientific team fully believes in and is fully committed to Loop’s technology. The Board continues to have full confidence, as it always has, in the integrity of Loop’s leadership and management team and that management has consistently conducted the business in an ethical manner.