TyraTech apoints a new chief financial officer

Green pesticides group TyraTech (LON:TYR) this morning unveiled the appointment of Peter Jerome as the company’s chief financial officer, the role vacated by Keith Bigsby last August.

The former PricewaterhouseCoopers accountant joins from Albany Molecular Research, a pharmaceuticals and drug research company with revenues of more than US$200 million and which employs 1,300 people.

Initially at AMRI Jerome was the director of finance and corporate controller, though for the past three years has been in charge of investor relations and financial planning.

Chairman Alan Reade said: "Peter joins us at an important time in the development of the company and we are confident that Peter's experience will bring an important new dimension to TyraTech and we look forward to him joining the team."

TyraTech is an eco-tech pesticide developer that puts “nature to work”. The company develops and commercialises insecticide products that incorporate unique blends of natural active ingredients.

Its products are gaining traction with a blue-chip and influential client base including Terminix, the world’s largest pest control company.

Last autumn it signed an enhanced agreement with the American giant, which will use the company’s green and human friendly pesticides in the US, Canada and Mexico, which will run until 2017.

The deal follows a “significant re-order” contract from Terminix for its SafeShield natural insecticide unveiled earlier this month.

The American group has a massive network and provides services to over 3 million residential and commercial customers in 45 US states and in 14 countries internationally.

The consumer market for pesticides is estimated by the company to be worth more than $19bn. This market is multi-segmented and includes: home lawn and garden; institutional (business and government); the control of intestinal parasites and skin infestations in humans and pets; and mosquito and vector control.

The agricultural market for pesticides is estimated at $14bn. This includes the control of intestinal parasites and skin infestations within farm animals, as well as the control of pesticides in agriculture and horticulture.