RiceBran Technologies (market cap $91 million), based in The Woodlands, has appointed Todd Mitchell, as its new CFO. He replaces Dennis Dykes, who has resigned.
RiceBran processes and markets value-added products derived from rice bran to food and animal nutrition manufacturers and retailers. A year ago, it moved its corporate head office from Sacramento to The Woodlands to be closer to Arkansas and Louisiana, the major rice-growing region of the US.
Mr Dykes had joined the company in 2014 and was appointed to the CFO position in October 2018. He replaced Brent Rystrom who was promoted to the CEO position. It’s not clear whether Mr Dykes will receive any severance.
Mr Mitchell joins from Park City Group, where he was the CFO. Park City is a publicly traded software-as-a-service provider, based in Salt Lake City. Prior to joining Park City in 2015, Mr Mitchell spent many years working as an analyst on Wall Street.
Park City issued a press release yesterday, stating that Mr Mitchell had resigned to accept another opportunity that will allow him to spend more time closer to home in New York. (Technically The Woodlands is closer to New York than Salt Lake City!)
Mr Mitchell will receive a base salary of $235,000. He was also granted 125,000 restricted stock awards. He also receives a $10,000 relocation allowance which suggests he is not permanently relocating to The Woodlands.