AMDL, Inc. Names Douglas MacLellan as Executive Chairman & CEO
November 05 2008 - 9:30AM
PR Newswire (US)
Michael Boswell nominated as Chairman of Audit committee TUSTIN,
Calif., Nov. 5 /PRNewswire-FirstCall/ -- (http://www.amdl.com/)
AMDL, Inc. (AMEX:ADL), announced today Mr. Douglas MacLellan has
been elected by its Board of Directors to the role of Chief
Executive Officer and Executive Chairman effective immediately. Mr.
Michael Boswell has been appointed to the Board and will assume Mr.
MacLellan's former role as Chairman of AMDL's Audit committee and
long-standing board member Dr. William Thompson will assume the
role of Chairman of the Governance Committee. "The board has great
confidence in Mr. MacLellan and the Company's U.S. and China-based
teams and we look forward to AMDL's continued success," commented
long-time board member Dr. William Thompson. "Given Mr. MacLellan's
decisive leadership, personal style, and more than 25 years of
extensive business experience in China, Mr. MacLellan is fully
prepared to lead AMDL to the next level. He is well-respected
across the industry, specifically in China where the majority of
AMDL's business is currently conducted. Equally important, Mr.
MacLellan is highly-regarded by AMDL's U.S. and China-based teams.
He is an absolute perfect fit for this role." Mr. MacLellan is
transitioning into his new role after nearly 16 years on AMDL's
Board. He was appointed to the Board in 1992 and became Chairman of
the Audit and Governance committees in 2001. Earlier this year he
assumed the role of non-executive Chairman serving as an advisor
and lead Company spokesperson for AMDL. He brings extensive
international business experience to his new role, with a special
focus on business operations and management in China where Mr.
MacLellan has been actively involved since 1983. He is a recognized
authority on Chinese joint venture and wholly foreign owned
enterprise (WFOE) structuring and considered an expert on the China
government and regulator and compliance system. Among his other
accomplishments, Mr. MacLellan also brings over twenty years of
active board experience to AMDL. With more than 25 years
experience, Mr. MacLellan has been a catalyst for the development
and financing of global businesses in the United States and
throughout the world. Throughout his professional career, he has
served on the board of 18 private and publicly-held companies where
he has played an instrumental role in strategic planning, general
operations, corporate finance activities, economic policy, asset
allocation and mergers & acquisitions. Additionally, he has
helped raise more than US$715 million in capital for development
stage, start-up and mid-cap companies. Mr. MacLellan received
advanced training in classical economic theory and international
relations from the University of Southern California and was a
student of Arthur Laffer, Ph.D., who later employed him as an
economist. Mr. MacLellan has also authored numerous
industry-specific research papers, portfolio strategy and economic
forecasts over the past 25 years. "I am tremendously excited for
the opportunity to lead AMDL, particularly during a time of
profound change and unprecedented opportunity. I am focused and
prepared to act decisively to improve our strong competitive
position in China while laying a foundation to aggressively grow
the Company beyond stated expectations," said Mr. MacLellan. I am
also pleased to welcome Mr. Michael Boswell to our Board of
Directors as Chairman of AMDL's Audit Committee." Mr. Boswell is
co-founder of the TriPoint family of companies and co-founder and
member in TriPoint Capital Advisors, LLC -- a boutique merchant
bank focused on small and mid-sized growth companies. He has been
active in the Chinese market since 2000 providing high-level
financial guidance and services to start-up, small and mid-sized
companies. Mr. Boswell also holds executive and CFO positions with
client companies that include Acting CFO and Director of Edgewater
Foods International Inc. (OTC:EDWT) (BULLETIN BOARD: EDWT) , and
Financial Advisor and Consultant to Tianyin Pharmaceutical Co, Inc.
(AMEX:TPI) and JPAK Group Inc. (OTC:JPAK) (BULLETIN BOARD: JPAK) .
With TriPoint, Mr. Boswell has assisted numerous companies,
providing high-level advice related corporate finance, corporate
structure, corporate governance and mergers & acquisitions.
Prior to the founding of TriPoint, Mr. Boswell held senior-level
executive positions focused on business development and management
consulting. Mr. Boswell holds the Series 24, 82 and 63 licenses and
is COO of TriPoint Global Equities, a FINRA member firm. Mr.
Boswell also spent eight years as a senior analyst and engineer in
various branches of the United States Government. He earned his MBA
from John Hopkins University and a BS degree in Mechanical
Engineering from University of Maryland. About AMDL: Headquartered
in Tustin, CA with operations in Shenzhen, Jiangxi, and Jilin,
China, AMDL, Inc., along with its subsidiary Jade Pharmaceutical
Inc. (JPI), is a vertically integrated bio-pharmaceutical company
devoted to the research, development, manufacturing, and marketing
of diagnostic, pharmaceutical, nutritional supplement, and cosmetic
products. The Company employs approximately 320 people in the U.S.
and China. The Company has an additional 4 pharmaceutical and
diagnostic products under review by various regulatory authorities.
Forward Looking Statements: Safe Harbor Statement under the Private
Securities Litigation Reform Act of 1995: The statements contained
in this document include certain predictions and projections that
may be considered forward-looking statements under securities law.
These statements involve a number of important risks and
uncertainties that could cause actual results to differ materially
including, but not limited to, the performance of joint venture
partners, as well as other economic, competitive and technological
factors involving the Company's operations, markets, services,
products, and prices. With respect to AMDL Inc., except for the
historical information contained herein, the matters discussed in
this document are forward-looking statements involving risks and
uncertainties that could cause actual results to differ materially
from those in such forward-looking statements. Potential risks and
uncertainties related to the Company's access to additional
capital, competition and dependence on key management. AMDL
Contact: Kristine Szarkowitz Director-Investor Relations (M) (206)
310-5323 DATASOURCE: AMDL, Inc. CONTACT: Kristine Szarkowitz,
Director-Investor Relations, AMDL, Inc., +1-206-310-5323, Web site:
http://www.amdl.com/
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