Companies and Brands
Why Origin Agritech Looks to Soar Even Higher in 2016 With New Management
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Origin Agritech Ltd. (NASDAQ: SEED) saw its shares take off early Tuesday following the naming of a new president and chief executive officer. The board of directors announced after the markets closed on Monday that Dr. William S. Niebur would be assuming the both roles.
Niebur takes the reins of the company at a time when Origin is strategically positioning itself as a global participant in the biotechnology and seed market. Former CEO Dr. Gengchen Han will retain his position as the chairman of the board. Origin will continue to enhance and expand its core seed business, while pursuing new opportunities and markets.
The company noted that this is the next step in its strategic plan to grow worldwide presence in the biotechnology and seed industries. Niebur’s experience, strategic vision, industry relationships and reputation in Asia, North and South America and Europe, among other things, are expected to help to accelerate Origin’s emergence on the global stage.
Niebur recently served with DuPont Pioneer as vice president and general manager with strategic oversight responsibility for China, East Asia and Oceania. He has been in the seed business for over three decades.
Niebur commented:
I am honored to be selected as the next president and CEO of Origin. This is a bold and innovative company that is redefining its future. Origin is well-positioned with its established core seed business and proprietary germplasm development program, as well as its emerging seed-traits business. Origin will continue to focus on growth while driving stronger execution in the Asia seed business. The recruitment of stronger talent, development and out-licensing of novel value-added traits, and deepening of current and new strategic partnerships to grow our business globally will become a significant part of Origin’s future.
So far in 2016, Origin has outperformed the broad markets, with the stock up about 60%. Over the past 52 weeks, the stock is up nearly 30%.
Shares of Origen traded up over 7% at $2.45 early Tuesday, with a consensus analyst price target of $5.00 and a 52-week trading range of $1.07 to $2.89.
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