Bioretec Ltd. is initiating a new CEO recruitment process as the company?s current CEO, Mr. Timo Lehtonen, shall transfer into a new role within the company. The Board of Directors and Mr. Lehtonen have reached a mutual consensus in good understanding, based on a shared vision for the company?s future, to begin a recruitment process for a new CEO who will steer Bioretec to its forthcoming growth stages. Mr. Lehtonen will maintain his role as CEO with the Board?s full support until the successor is appointed, ensuring stability and continuity in the leadership of the Company.

During Mr. Lehtonen?s tenure, Bioretec has reached numerous milestones, notably reforming the surgical treatment of bone fractures with biodegradable metal implants through a first-ever FDA market authorization of magnesium-based implants in the U.S., thus significantly improving patient recovery and quality of life. Furthermore, under his leadership, the Company has enhanced its international market reach with sustained double-digit (in percentages) revenue growth and solidified its status as an innovator in biodegradable technologies.