Timothy Barabe Appointed Chief Financial Officer of Affymetrix
March 15 2010 - 6:00AM
Business Wire
Affymetrix, Inc. (NASDAQ:AFFX) today announced that Timothy
Barabe has been appointed Executive Vice President and Chief
Financial Officer of the company. Barabe will lead the company’s
financial functions as well as the treasury, investor relations,
and information technology departments, reporting to Kevin King,
President and Chief Executive Officer.
“Tim has a proven ability to translate business strategy into
financial success, and I’m delighted that he will be joining my
leadership team to help drive growth,” said King. “With his
experience in the medical and life science sectors and passion for
financial excellence, Tim is a natural fit for Affymetrix.”
Barabe joins Affymetrix with experience from top-tier
pharmaceutical, medical, and emerging life science companies. Since
2006, he served as Senior Vice President and Chief Financial
Officer at Human Genome Sciences. Previously, Barabe was Chief
Financial Officer at Regent Medical Ltd. For more than 20 years, he
held senior executive roles in finance, general management, and
strategic planning at Novartis AG, the world’s sixth largest
pharmaceutical company1. His roles included Chief Financial Officer
of the Sandoz Generics Business Unit, President of the CIBA Vision
Corporation Specialty Lens Business Franchise, and Group Vice
President and Chief Financial Officer of CIBA Vision
Corporation.
“Affymetrix is a pioneering brand with innovative new
technologies,” said Barabe. “I’m extremely excited to join a team
committed to financial strength and discipline. I look forward to
working with the entire leadership team to focus on human health,
driving results, and creating value for our shareholders.”
Barabe received his MBA in finance from the University of
Chicago and his BBA in finance from the University of
Massachusetts.
Barabe replaces John Batty, who served three years at Affymetrix
and was instrumental in laying the foundation for the company’s
long-term growth.
1Fortune Global 500, Pharmaceuticals, July 2009.
About Affymetrix
Affymetrix technology is used by the world’s top pharmaceutical,
diagnostic, and biotechnology companies, as well as leading
academic, government, and nonprofit research institutes. More than
1,900 systems have been shipped around the world and more than
21,000 peer-reviewed papers have been published using the
technology.
Affymetrix is headquartered in Santa Clara, Calif., and has
manufacturing facilities in Cleveland, Ohio, and Singapore. The
company has about 1,000 employees worldwide and maintains sales and
distribution operations across Europe and Asia. For more
information about Affymetrix, please visit www.affymetrix.com.
Forward-looking Statements
All statements in this press release that are not historical are
“forward-looking statements” within the meaning of Section 21E of
the Securities Exchange Act as amended, including statements
regarding Affymetrix’ “expectations,” “beliefs,” “hopes,”
“intentions,” “strategies,” or the like. Such statements are
subject to risks and uncertainties that could cause actual results
to differ materially for Affymetrix from those projected. These and
other risk factors are discussed in Affymetrix’ Form 10-K for the
year ended December 31, 2009, and other SEC reports for subsequent
quarterly periods.
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