Posted at 11:26 a.m., Wednesday, October 19, 2005
Cyanotech CFO announces resignation
Associated Press
KAILUA KONA — Cyanotech Corp., a producer of natural products from microalgae on the Big Island, announced Wednesday that its Chief Financial Officer Jeffrey H. Sakamoto has resigned, effective Nov. 25.Shares of the company dipped 6 cents, or 5.9 percent on the news, to 96 cents in morning trading on the Nasdaq. Its stock has traded in a 52-week range of 73 cents to $1.70, and is down 33 percent since the start of the year.
Sakamoto joined Cyanotech in 1995, became controller in 1997 and has served as finance chief, vice president-finance & administration, secretary and treasurer since March 2003. The company said Sakamoto is leaving to pursue another career opportunity.
"Our operations have benefited from his participation and we wish him the best in his future endeavors," said Gerald Cysewski, chairman, president and chief executive officer of the company.
