Cortec Names Caleb Pheneger as President

Cortec CEO, Chairman and founder Boris Miksic recently announced his selection of Caleb Pheneger, COO, as the new President of Cortec Corporation. This represents a strategic expansion of Pheneger's responsibilities as COO over Cortec's U.S. and Canadian operations to now include full oversight of Cortec Corporation under the direction of Miksic.

Miksic started Cortec in 1977 after immigrating to the U.S. and continues leading with a forward-thinking spirit. Looking ahead to the company's future, he noted that this promotion "signifies the generational change in our organization. After having been at the helm for 48 years, since Cortec's inception in 1977, I felt that the time has come to give a chance to younger managers to take over and bring our group to the next level."

The move also encapsulates Miksic's vision for internal promotion, growth and innovation. Pheneger joined Cortec straight out of Michigan Technological University in 2012. He was hired as a contract-to-hire chemical engineer by the R&D arm of the company. During his first two years he provided technical service support, completed projects and performed testing for Cortec Laboratories, Inc. He quickly rose to the position of production manager in 2014 and director of manufacturing in 2017. In 2022, Miksic created the role of COO with Pheneger in mind, putting him in charge of operations at Cortec and Bionetix.

Miksic will continue his role as CEO and Chairman, giving him the opportunity to coach Pheneger and his team while expanding market share for holdings in his homeland of Croatia.

For more information contact:

Cortec Corporation

4119 White Bear Pkwy.

St. Paul, MN 55110

800-4-CORTEC / 651-429-1100

productinfo@cortecvci.com

www.cortecvci.com