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Tekcapital portfolio company Salarius appoints CEO

Victor H. Manzanilla previously served as marketing director for Office Depot in addition to a 12-year stint at Procter & Gamble in which he held several positions

Manzanilla has also purchased 2.5% of Salarius’ shares for US$50,000

Tekcapital PLC (LON:TEK) said its portfolio company, Salarius Ltd, has appointed Victor H. Manzanilla as its chief executive (CEO).

The AIM-listed intellectual property investment group said Manzanilla had previously served as marketing director for Office Depot (NASDAQ:ODP), a leading provider of business services and supplies, products and technology solutions through its 1,400 stores, as well as a 12-year career at Procter & Gamble (NYSE:PG) in which he held several positions including home care marketing innovation manager and brand manager for global new business development for Febreze. More recently, he served as the CEO of his own consulting firm VHM Global Research.

READ: Tekcapital portfolio company Lucyd Pte appoints science advisor and files new patent application

Tekcapital added that Manzanilla had also purchased 2.5% of Salarius’ shares through his consulting firm for US$50,000 taking its own stake to 97.5%.

Salarius develops and produces Microsalt, a patented low-sodium salt product that contains around half the sodium content of traditional salt.

Dr Clifford Gross, chairman of Tekcapital, said: “We believe [Manzanilla] is a remarkable individual with the skills and experience necessary to build a global brand utilizing Salarius' proprietary low-sodium technology.

He added that the appointment represented a “significant milestone” in the commercialisation of Salarius and its Microsalt product.

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Price: 14.5 GBX

Market: LSE
Market Cap: £13.46 m

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