Novogen Appoints Three New Directors
September 20 2010 - 8:00AM
Marketwired
Pharmaceutical development company, Novogen Limited (ASX: NRT)
(NASDAQ: NVGN) has appointed three new Directors.
Of the three Directors, two are based in the United States and
one in Australia, with their backgrounds encompassing investment
and corporate finance.
Novogen Chairman, Mr. Philip Johnston, said the appointments
were in line with a commitment to broaden contributions at board
level to provide fresh perspectives on developing the Company's
direction.
"We feel our new board appointments will bring together a
variety of commercial expertise that will have a positive influence
on the evolution of Novogen's strategy," Mr. Johnston said.
The new appointments are Mr. Ross Youngman, Mr. Peter White and
Mr. Josiah T Austin and brief backgrounds are provided below.
Ross Youngman, B Com, MBA Chief Executive
Officer, Five Oceans Asset Management
Based in Australia, Mr. Youngman is co-founder of Five Oceans
and has over 25 years' international experience in the finance
industry covering stockbroking, financial planning and asset
management. He spent 12 years with Bankers Trust and Deutsche Bank
in both Sydney and New York and was most recently Chief Executive
Officer of Deutsche Asset Management in Australia.
Prior positions included Head of Deutsche Asset Management's
U.S. mutual fund business and Head of BT Funds Management's U.S.
asset management business. Mr. Youngman has an MBA from Columbia
Business School, New York and a Bachelor of Commerce from the
University of Tasmania.
Peter R. White, AB, MBA
Mr. White is based in the U.S. and is a corporate finance
professional with over 30 years' experience in financing and
advising companies in the U.S. He has broad industry experience
including technology, media and communications, business services
and energy distribution. Among current responsibilities, Mr. White
is building a leveraged finance business servicing private equity
firms in the U.S. for TD Bank. Mr. White has previously worked in
senior positions for several large North American financial
services leaders, including BankBoston, Fleet Securities, GE
Capital and CIT Group.
He was educated at Dartmouth College, A.B. Cum Laude 1977, The
Wharton School - University of Pennsylvania, MBA.
Josiah T. Austin
Mr. Austin is a U.S. resident and the largest shareholder in
Novogen. He is managing member of El Coronado Holdings, LLC, a
privately owned investment holding company, which invests in public
and private companies. He and his family own and operate
agricultural properties in the states of Arizona, Montana, and
northern Sonora, Mexico through El Coronado Ranch & Cattle
Company, LLC and other entities. Mr. Austin previously served on
the Board of Directors of Monterey Bay Bancorp of Watsonville,
California, and is a prior board member of New York Bancorp, Inc.,
and North Fork Bancorporation. He became a director of Goodrich
Petroleum, Inc in 2002.
The new board appointments are effective from Monday 20
September 2010, with the new Directors offering themselves for
re-election at Novogen's Annual General meeting in November.
The composition of Novogen's board will continue to be assessed
in coming months.
Earlier this month, Novogen reached an agreement in principle
with its 71.3 percent owned U.S. subsidiary, Marshall Edwards, Inc.
(NASDAQ: MSHL), regarding the sale by Novogen to Marshall Edwards
of certain intellectual property in a stock based transaction.
About Novogen
Novogen Limited is an Australian biotechnology company based in
Sydney, Australia. Novogen has a consumer healthcare business,
provides research and development services to its 71.3 per cent
owned subsidiary, Marshall Edwards, Inc., in relation to oncology
therapeutics and is developing glucan technology through its 80.7
percent owned subsidiary, Glycotex, Inc.
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CONTACTS : PHILIP JOHNSTON CHAIRMAN NOVOGEN LIMITED TEL + 61
2 9878 0088 http://www.novogen.com DAVID SHEON WHITECOAT
Strategies 202 547 2880
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