Friday, April 20, 2012

Sapphire Energy CEO Steps Down

San Diego-based Sapphire Energy, the venture backed developer of algae-based biofuels production technology, said Friday that CEO Jason Pyle will step down as CEO. The firm said that Pyle will remain a member of the company's board of directors. Pyle said he has decided to "move on to my next endeavor", which will be announced shortly. president and Chairman Cynthia "C.J." Warner will become CEO of the company. Pyle co-founded Sapphire Energy. Sapphire is just coming off a $144M, Series C funding -- announced on April 2nd--of the biggest fundings in the region in recent quarters.

---