Astrotech Subsidiary 1st Detect Appoints Raj Mellacheruvu as President and Chief Executive Officer
February 19 2019 - 7:00AM
Business Wire
Astrotech subsidiary 1st Detect is very pleased to announce the
appointment of Raj Mellacheruvu as President and Chief Executive
Officer (CEO), effective immediately. Former CEO Thomas B. Pickens
III will continue to serve in his role as Chairman of the Board.
Mr. Mellacheruvu has spent his career commercializing innovative
technologies in both start-up and large enterprise environments.
Most recently he served as the Vice President and Chief Operating
Officer of 1st Detect and was instrumental in revolutionizing the
Explosives Trace Detection (ETD) market with the introduction of an
ETD-based on mass spectrometry technology. Prior to that, he was
the Managing Director of Noumenon Consulting, Inc., providing
consulting services on product strategy, management, and business
operations. Mr. Mellacheruvu was previously employed by ClearCube
Technology, Inc., Omega Band, and Advanced Micro Devices.
Mr. Mellacheruvu has an MBA in Business Strategy and Finance
from Kellogg School of Management at Northwestern University, a
Master’s degree in Electrical Engineering from Texas A&M
University, and a Bachelor’s degree in Electronics and
Communication Engineering from Osmania University.
Thomas B. Pickens III, Chairman and CEO of Astrotech (NASDAQ:
ASTC) and Chairman of 1st Detect, added, “We are very pleased to
have Raj in his new role as CEO as he leads 1st Detect forward in
the adoption of the TRACER 1000™ by airports worldwide.”
Mr. Mellacheruvu commented, “I am honored to assume this new
role and I am excited to drive the development and execution of our
corporate strategy going forward. Our core market of aviation
security has, at best, seen incremental improvements in Explosives
Trace Detection over the last few decades. We are excited to
introduce our ETD technology that pays for itself in under a year
while providing the best in protection from evolving terroristic
threats.”
About Astrotech Corporation
Astrotech (NASDAQ: ASTC) is a science and technology
development and commercialization company that launches, manages,
and builds scalable companies based on innovative technology in
order to maximize shareholder value. 1st
Detect develops, manufactures, and sells chemical
analyzers for use in the security, defense, healthcare, and
environmental markets. Astral Images sells
film-to-digital image enhancement, defect removal, color
correction, and post processing software, providing economically
feasible conversion of film to the new 4K ultra-high definition
(UHD), high-dynamic range (HDR) format. Astrotech is headquartered
in Austin, Texas. For information, please visit
www.astrotechcorp.com.
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 Company’s use of proceeds from the private
placement transaction, whether we can successfully develop our
proprietary technologies and whether the market will accept our
products and services, as well as other risk factors and business
considerations described in the Company’s Securities and Exchange
Commission filings including the annual report on Form 10-K for the
fiscal year ended June 30, 2018. Any forward-looking statements in
this document should be evaluated in light of these important risk
factors. 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 update these forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20190219005190/en/
Eric Stober, Chief Financial Officer, Astrotech Corporation,
(512) 485-9530
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