Arcadia Biosciences taps new head of research and development

Arcadia Biosciences Inc (NASDAQ:RKDA), a food-ingredient company, said Tuesday it has tapped Randy Shultz as its new head of research and development.

Schultz has nearly 20 years of plant science and agricultural biology experience, including a stint as global crop lead at Inari Agriculture, a plant breeding company in Cambridge, Massachusetts, where he was head of R&D.

WATCH: Arcadia Biosciences on cusp of launching its GoodWheat and Soybean products

“Throughout his career, Randy has established a reputation as a keen R&D strategist, driving products through the pipeline from invention through commercial planning,” said Arcadia CEO Raj Ketkar in a statement. “We are thrilled to have a science leader of Randy’s caliber as we build our capabilities in cannabis and advance future innovations in our GoodWheat portfolio of novel wheat attributes.”

Schultz previously spent four years at Monsanto leading R&D, dicot transformation and gene-editing teams. In 2018, he co-founded Craved By Dogs, a company that sells cannabidiol-infused dog treats. 

Shares of the California-based company were up nearly 2% to $7.13 at midday.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Story by ProactiveInvestors