ASTROTECH APPOINTS BOB MCFARLAND TO BOARD OF DIRECTORS
February 01 2023 - 8:00AM
Astrotech Corporation (Nasdaq: ASTC) announced today that it has
increased the size of its Board of Directors from four to five
directors and has appointed Bob McFarland as a director of the
Company. Mr. McFarland brings to Astrotech’s Board extensive
executive management experience with domestic and international
enterprises, with a focus on information technology.
Mr. McFarland stated, “I am honored to join the Board of
Astrotech. I look forward to working closely with my fellow Board
members to support the Company’s strategic objectives as it
continues to advance its mass spectrometry pipeline of
opportunities.”
Mr. McFarland served as an Assistant Secretary for Information
and Technology and Chief Information Officer at the Department of
Veterans Affairs (“VA”) from January 2004 through his retirement in
2006. In this role, he advised the Secretary of Veterans Affairs on
matters pertaining to acquisition and management of IT systems. He
was also responsible for overseeing operation of the VA’s computer
systems and telecommunication networks for medical information,
veterans’ benefits payments, life insurance programs, and financial
management systems.
Prior to his tenure at the VA, Mr. McFarland served as Vice
President of Governmental Relations for Dell Computer Corporation.
He joined Dell in 1996 as Vice President and General Manager of the
Federal Business segment. He held several senior executive
positions at Dell, including managing its global segment, large
corporate accounts, and government sector. Under his leadership,
Dell became a leading supplier of computer systems to the federal
government. In 1998, Mr. McFarland was named to the “Federal 100,”
a joint government and industry award designating the top 100
executives in the federal marketplace.
Mr. McFarland currently serves on the Board of Advisors of
Veterans Advantage. He has previously served as Director for Xplore
Technologies Corporation (Nasdaq: XPLR), CSIdentity Corporation,
Ezenia! Inc. (OTC: EZEN), and Isothermal Systems Research Inc. Mr.
McFarland has a Bachelor of Science Degree in Business Management
from LeTourneau University in Longview, Texas.
“We are pleased to welcome Bob to the Astrotech Board. Bob’s
extensive background in working with and for the federal
government, particularly from his role at the VA, will prove
valuable as we continue the development of Astrotech’ s mass-spec
breath analysis device, the BreathTest-1000, and navigate the
numerous steps required to receive FDA approval,” stated Thomas B.
Pickens III, Chairman and CEO of Astrotech. “As Astrotech
continues executing on its next phase of growth, we are confident
that Bob’s successful track record of developing and overseeing
information technology strategies for global businesses will
complement the skill sets already on our Board. We look forward to
Bob’s guidance and perspective as the Company continues to pursue
its goals in the mass-spec industry.”
About Astrotech
Astrotech (Nasdaq: ASTC) is a mass spectrometry company
that launches, manages, and commercializes scalable companies based
on its innovative core technology through its wholly-owned
subsidiaries. 1st
Detect develops, manufactures, and sells
trace detectors for use in the security and detection market.
AgLAB is developing chemical analyzers for use in
the agriculture market. BreathTech is
developing a breath analysis tool to provide early detection of
lung diseases. Astrotech is headquartered in Austin, Texas. For
information, please visit www.astrotechcorp.com.
Forward-Looking Statements
This press release contains forward-looking statements that are
made pursuant to the Safe Harbor provisions of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to risks, trends, and uncertainties that
could cause actual results to be materially different from the
forward-looking statement. These factors include, but are not
limited to, the severity and duration of the COVID-19 pandemic and
its impact on the U.S. and worldwide economy, the timing, scope and
effect of further U.S. and international governmental, regulatory,
fiscal, monetary and public health responses to the COVID-19
pandemic, the Company’s use of proceeds from the common stock
offerings, whether we can successfully complete the development of
our new products and proprietary technologies, whether we can
obtain the FDA and other regulatory approvals required to market
our products under development in the United States or abroad,
whether the market will accept our products and services and
whether we are successful in identifying, completing and
integrating acquisitions, as well as other risk factors and
business considerations described in the Company’s Securities and
Exchange Commission filings including the Company’s most recent
Annual Report on Form 10-K. Any forward-looking statements in this
document should be evaluated in light of these important risk
factors. Although the Company believes the expectations reflected
in its forward-looking statements are reasonable and are based on
reasonable assumptions, no assurance can be given that these
assumptions are accurate or that any of these expectations will be
achieved (in full or at all) or will prove to have been correct.
Moreover, such statements are subject to a number of assumptions,
risks and uncertainties, many of which are beyond the control of
the Company, which may cause actual results to differ materially
from those implied or expressed by the forward-looking statements.
In addition, any forward-looking statements included in this press
release represent the Company’s views only as of the date of its
publication and should not be relied upon as representing its views
as of any subsequent date. The Company assumes no obligation to
correct or update these forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by applicable law.
Company Contact: Jaime Hinojosa, Chief Financial Officer, Astrotech Corporation, (512) 485-9530
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