VeriTeQ Appoints Former U.S. Ambassador Ned L. Siegel to its Board of Directors
June 19 2014 - 11:38AM
Business Wire
Ambassador Siegel brings proven entrepreneurial
and capital raising expertise to VeriTeQ and will expand the
Company’s independence
VeriTeQ Corporation (“VeriTeQ” or “Company”) (OTC Markets:
VTEQ), a provider of implantable medical device identification and
radiation dose measurement technologies, announced today that it
has appointed Ned L. Siegel, former U.S. Ambassador, to its Board
of Directors, effective immediately. Ambassador Siegel will replace
Michael Krawitz, the Company’s Chief Legal and Financial Officer,
as a director. Mr. Krawitz is stepping down from the Board to focus
on his responsibilities as an executive of the Company and to
enable the Company to increase its Board independence. Ambassador
Siegel is a successful entrepreneur who brings more than 30 years
of business and government experience to VeriTeQ, and will assist
the Company with its strategic development and financing needs.
“Ned’s business success speaks for itself and his reputation
throughout commercial and government circles is second-to-none,”
stated Scott R. Silverman, Chairman and CEO of VeriTeQ. “I have
known Ned for many years and VeriTeQ is honored to have him join
our Board of Directors. We are confident that Ned’s broad
relationships and expertise will contribute to VeriTeQ’s
accomplishments and his strategic guidance will further enhance the
Company’s corporate governance.”
In 1997, Ambassador Siegel founded The Siegel Group, Inc., an
international business management advisory firm, specializing in
real estate, energy, utilities, infrastructure, financial services,
oil and gas, and cyber and security technologies, with its primary
focus on the United States, Israel, the Caribbean and Latin America
markets. The firm has an unprecedented track record of acquiring
and developing successful master plan residential communities,
corporate office developments, industrial parks, and retail
centers.
After demonstrating his success in the private sector,
Ambassador Siegel was appointed by Florida Governor Jeb Bush to
serve as a Member of the Board of Directors of Enterprise Florida,
Inc. (EFI), the state’s primary organization promoting statewide
economic development through its public-private partnership. He
served in this role for several years before being appointed by
President George W. Bush to serve as a Member of the Board of
Directors of the Overseas Private Investment Corporation (OPIC), a
development agency of the U.S. Government to help U.S. businesses
invest overseas. OPIC’s mission is to foster economic development
in new and emerging markets, complement the private sector in
managing the risks associated with foreign direct investment, and
support U.S. Foreign Policy. Subsequently, Ambassador Siegel was
again honored by President George W. Bush and appointed to serve
with Ambassador John R. Bolton at the United Nations in New York as
Senior Advisor to the U.S. Mission and Representative of the United
States to the 61st Session of the United Nations General
Assembly.
In October 2007, President George W. Bush once more sought out
the service of Ambassador Siegel, appointing him to serve as the
U.S. Ambassador to the Commonwealth of The Bahamas where Mr. Siegel
served as the Chief of Mission and was responsible for all
operations of the U.S. Embassy Nassau. His responsibilities
included oversight and management of over 200 U.S. Department of
State employees located in five separate locations throughout The
Bahamas, representing seven different government agencies.
About VeriTeQ
VeriTeQ develops innovative, proprietary RFID technologies for
implantable medical device identification, and dosimeter
technologies for use in radiation therapy treatment. VeriTeQ offers
the world's first FDA cleared RFID microchip technology that can be
used to identify implantable medical devices, in vivo, on demand,
at the point of care. VeriTeQ's dosimeters provide patient safety
mechanisms while measuring and recording the dose of radiation
delivered to a patient in real time. For more information on
VeriTeQ, please visit www.veriteqcorp.com.
Statements in this press release about our future expectations,
including, without limitation, the likelihood that Ambassador
Siegel will assist the Company with its strategic development and
financing needs; the likelihood that Ambassador Siegel will
contribute to VeriTeQ’s accomplishments and his strategic guidance
will further enhance the Company’s corporate governance; constitute
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934, and as that term is defined in the Private Litigation
Reform Act of 1995. Such forward-looking statements involve risks
and uncertainties and are subject to change at any time, and our
actual results could differ materially from expected results. These
risks and uncertainties include, without limitation, VeriTeQ’s
ability to raise capital, as well as other risks. Additional
information about these and other factors may be described in
VeriTeQ’s Form 10-K, filed on April 15, 2014, and Forms 10-Q, filed
on May 14, 2014, November 14, 2013, and August 9, 2013, and future
filings with the Securities and Exchange Commission The Company
undertakes no obligation to update or release any revisions to
these forward-looking statements to reflect events or circumstances
after the date of this statement or to reflect the occurrence of
unanticipated events, except as required by law.
VeriTeQAllison Tomek,
561-846-7003atomek@veriteqcorp.comorRedChip CompaniesBrendan
Hopkins, 1-800-RED-CHIP (733-2447) Ext 134Brendan@redchip.com