HERCULES, Calif., March 13, 2017 /PRNewswire/ -- Bio-Rad
Laboratories, Inc. (NYSE: BIO and BIOb), a global provider of life
science research and clinical diagnostic products, today announced
that management intends to propose Jeffrey
Edwards, Gregory
Hinckley and Arnold Pinkston
for election to its Board of Directors at the Company's 2017 Annual
Meeting of Stockholders.
Norman Schwartz, Bio-Rad Chairman
and Chief Executive Officer, commented: "We are pleased to announce
Jeff, Greg and Arnie, three highly qualified and experienced
professionals, as candidates for election to our Board. Jeff's deep
financial and capital allocation experience, Greg's financial,
operational and public board expertise together with Arnie's broad
corporate governance, regulatory and M&A knowledge will make
them valuable additions to our Board. Our intention to propose
these director candidates, who have proven track records of
creating stockholder value, is consistent with our ongoing efforts
to refresh and strengthen our Board. They are the result of a
thorough process to add new perspectives on behalf of our
stockholders. We look forward to benefiting from Jeff's, Greg's and
Arnie's contributions as we continue to drive growth and improved
profitability to deliver enhanced stockholder value."
Jeffrey Edwards retired from
Allergan, Inc. in February 2015 after
nearly 22 years at the Company. Mr. Edwards served as Executive
Vice President, Finance and Business Development, Chief Financial
Officer of Allergan, Inc. from September
2005 to August 2014. From 2003
to 2005, Mr. Edwards served as Allergan's Corporate Vice President,
Corporate Development and previously served as Senior Vice
President, Treasury, Tax and Investor Relations. Prior to joining
Allergan, Mr. Edwards was with Banque Paribas and Security Pacific
National Bank, where he held various senior-level positions in the
credit and business development functions. Mr. Edwards currently
serves on the Board of Directors and as Audit Committee chairman of
both FibroGen, Inc., a publicly traded biopharmaceutical company,
and Viamet Pharmaceuticals Holdings, LLC, a privately-owned
biopharmaceutical company. Mr. Edwards has over 25 years of public
company experience. Mr. Edwards received a Bachelor of Arts degree
in Sociology from Muhlenberg College
and completed the Advanced Management Program at the Harvard Business School.
Gregory Hinckley currently serves
as President of Mentor Graphics, a leading supplier of products and
services used by companies worldwide in the design of the
electronic content of their products. Prior to Mentor Graphics, Mr.
Hinckley served as Chief Financial Officer for VLSI Technology,
Inc., a publicly traded microchip manufacturer, Crowley Maritime
Corp. and Bio-Rad. Mr. Hinckley was a director of Intermec, Inc., a
publicly traded provider of automated identification and data
collection (AIDC) solutions, Super Micro, a publicly traded
provider of advanced computer server systems and subsystems, and
Amkor Technology, a world's leading supplier of outsourced
semiconductor interconnect services. He currently serves as a
director of SI-Bone, Inc., a privately held orthopedic device
company. Mr. Hinckley has over 30 years of public company
experience. Mr. Hinckley holds a Bachelor of Arts degree in physics
from Claremont McKenna College, a
Master of Science degree in applied physics from University of California, an MBA degree from
Harvard Business School, and was a
Fulbright Scholar in applied mathematics at Nottingham University in England. He is also a Certified Public
Accountant.
Arnold Pinkston served as
Executive Vice President and General Counsel for Allergan, Inc., a
multi-specialty health care company. Prior to Allergan, Mr.
Pinkston served as Senior Vice President, General Counsel and
Secretary for Beckman Coulter and
held a variety of positions at Eli Lilly and Company, including
Vice President and Deputy General Counsel. Additionally, Mr.
Pinkston currently serves as a member of the Board of Directors of
Janus Capital Group and is a director for the Sustainability
Accounting Standards Board. Mr. Pinkston has over 20 years of
public company experience. Mr. Pinkston earned his Juris Doctor
from Yale Law School and earned a Bachelor of Arts in geophysics
from Yale College.
As disclosed in an 8-K filing on March
13, 2017, four independent directors notified the Company of
their decision not to stand for reelection to the Board at the
Company's 2017 Annual Meeting. The Company notes that their
decision not to stand for reelection was not related to any issues
regarding the integrity of the Company's financial statements or
accounting policies and practices.
The Company confirmed its commitment to drive excellence in its
management team so that it is best positioned to achieve its long
term financial and operational goals. In addition, the Company is
continuing a process to identify additional potential independent
directors, who will stand for election at the 2017 Annual
Meeting.
Norman Schwartz commented, "I
would like to express my sincere thanks for the steadfast service
of Deb, Joel, Bob, and Lou. Their commitment to Bio-Rad has
provided the company with immeasurable value. The changes announced
today build on their hard work and has positioned Bio-Rad for its
next chapter, with a strong commitment to creating stockholder
value over the long-term."
About Bio-Rad
Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb) develops,
manufactures, and markets a broad range of innovative products and
solutions for the life science research and clinical diagnostic
markets. The company is renowned for its commitment to quality and
customer service among university and research institutions,
hospitals, public health and commercial laboratories, as well as
the biotechnology, pharmaceutical, and food safety industries.
Founded in 1952, Bio-Rad is based in Hercules, California, and serves more than
100,000 research and healthcare industry customers through its
global network of operations. The Company employs more than 8,250
people worldwide and had revenues exceeding $2 billion in 2016. For more information, please
visit www.bio-rad.com.
This release may be deemed to contain certain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements generally can be
identified by the use of forward-looking terminology such as,
"intends," "believes," "expects," "anticipates," "may,"
"will," "estimate," "continue," or similar expressions or the
negative of those terms or expressions, although not all
forward-looking statements contain these words. Such statements
involve risks and uncertainties, which could cause actual results
to vary materially from those expressed in or indicated by the
forward-looking statements. For further information regarding the
Company's risks and uncertainties, please refer to the "Risk
Factors" and "Management's Discussion and Analysis of Financial
Condition and Results of Operation" in Bio-Rad's public reports
filed with the Securities and Exchange Commission, including our
most recent Annual Report on Form 10-K and our Quarterly Reports on
Form 10-Q. Bio-Rad cautions you not
to place undue reliance on forward-looking statements, which
reflect an analysis only and speak only as of the date hereof. We
disclaim any obligation to update these forward-looking
statements.
Contacts
Christine Tsingos, Executive Vice
President and Chief Financial Officer
Bio-Rad Laboratories, Inc.
510-741-6006
investor_relations@bio-rad.com
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SOURCE Bio-Rad Laboratories, Inc.