Board Bio

Mr. Boyd is a Qualified Financial Expert with over 21 years of combined experience as CFO at five different public companies, running the financial function, investor relations and overseeing the audit committee’s operations. As a close confidant of the CEO and Board, he is known for his business acumen and critical decision-making abilities. Mr. Boyd regularly attended and presented at Board and Audit committee meetings, and numerous Compensation committee meetings throughout his tenure. Mr. Boyd is considered an internal controls and SEC reporting expert. At ESS Technologies (ESST) in 2002, Mr. Boyd worked with PwC to implement 404 controls when SOX first became effective – a challenging but valuable experience. Later he implemented 404 level controls at Link_A_Media Devices in 2011 to prepare for a pending IPO, and then again at Marrone Bio Innovations, Inc. (MBI). He also led two public company restatements dealing with complex GAAP rules: first, postdating of stock options at Silicon Storage Technologies (SST) and second, revenue recognition at Marrone Bio Innovations (MBII).

Most recently, Mr. Boyd was President and CFO of MBII, a NASDAQ listed company. In that role he shared responsibility with the founder and CEO for the overall performance and strategy of the Company. He joined MBII approximately one year after their IPO to improve both their public reporting function and image with the street. He immediately revamped their budget and planning process in preparation for a follow-on offering. However, six months after joining and a month after completing the $40M offering, he discovered fraud on the part of their COO/VP Sales. He immediately reported it to the CEO and the Audit Committee, beginning a restatement process and formal investigations by the AC, SEC and NASDAQ.

Simultaneously, and as a direct consequence Mr. Boyd was given responsibility by the Board to run the company alongside the CEO. In that role Mr. Boyd led a two-step restructuring that reduced the product pipeline, rebuilt and revamped the marketing and sales plan and shrank headcount and expenses to half of what it had been in order to preserve its cash. The stock dropped from $9 a share to under $1. For the next few years, it was crisis management with the Board, founder/CEO and Mr. Boyd working very closely together to manage operations, strategy, and messaging with the street. Since the restructuring Mr. Boyd and the CEO together raised $169.4M through a multitude of creative but complex financings including: CMPO, PIPE, ATM, debt restructure, and working capital line of credit.

Finally, Mr. Boyd has broad international experience. He set up and managed an international tax structure achieving a 3% worldwide effective tax rate for ESST which had significant operations in Beijing, Shanghai and Taipei and sales offices in Tokyo, London and Paris. He has managed complex tax structures for four different companies and set up and closed entities throughout Asia, Europe, North and South America. Most recently, Mr. Boyd led negotiations and due diligence for the acquisition of Pro Farm, a Finish company with subsidiaries in Russia and Estonia, which required managing through a lot of local restatements, HR issues, and tax planning.