Biofuels Maker CEO Resigns

Joel Balbien has resigned as CEO of Kreido Biofuels Inc., a Camarillo manufacturer of a device used in making biofuels. Ben Binninger has been named as interim chief executive by the Kreido board of directors. Binninger also serves on the Kreido board. Binninger served as chief operating office of Kreido. He has also worked at Atlantic Richefield Co., Exxon, and Rio Tinto Borax. He will work on current company plans to have biofuel manufacturing plants online in 2008, Binninger said.