Bailey will replace David Rosenthal, who has served as interim president and CEO since 27 February 2010.
Rosenthal said that they were pleased that Bailey has chosen to join Cyanotech.
"He brings a wealth of experience in managing and marketing products both in the specialised world of neutraceuticals and in mainstream consumer product markets," Rosenthal said.
Bailey most recently was president of Unlocking Potential, prior to which he served as president and chief operating officer of Pharmavite, a subsidiary of Otsuka Pharmaceutical Company.
Prior to that, Bailey was executive vice president of Marketing for Del Monte Foods and senior vice president and general manager ofHousehold Division of The Dial.