Origin Materials (ORGN) said Tuesday its Co-Founder and Co-Chief Executive John Bissell will serve as chief executive, effective Dec. 31.

Rich Riley will step down from his position as co-CEO and from Origin's board, effective Dec. 31, the company said.

Riley will stay at the company in an advisory role until the end of 2025, Origin said.

Also, effective Dec. 31, Chief Financial Officer Matt Plavan will assume the additional role of chief operating officer, the company said.