Enzo Biochem Appoints Rebecca J. Fischer to Board of Directors
December 31 2019 - 10:48AM
Business Wire
Fischer Appointed to Audit, Compensation and
Nominating/Governance Committees
Fischer to Stand for Election at Upcoming 2019
Annual Shareholder Meeting
Director Gregory M. Bortz Retires
Enzo Biochem, Inc. (NYSE:ENZ), an integrated diagnostics and
life sciences company focusing on delivering and applying advanced
technology capabilities to produce affordable, reliable products
and services that enable its customers to meet their clinical
needs, today announced it has appointed industry healthcare veteran
and leader Rebecca J. Fischer to its Board of Directors. Her
appointment as a new independent director is effective immediately
and follows a search process conducted as part of Enzo’s ongoing
focus on Board composition, refreshment and diversity. As part of
our evaluation, the Company as a significant provider of Women’s
health products and services, believes the representation of such a
highly qualified woman on the Board would be a valuable
contribution to it.
Ms. Fischer takes the place of Gregory M. Bortz who has retired
from the Board. The Board had requested Mr. Bortz to remain on the
Board for a period of time to help complete the design and
execution of the Company’s strategic plan of which Greg was a key
contributor. Upon implementation of the strategy, it was understood
that Mr. Bortz would step down. Dov Perlysky, a member of the Board
since 2012, will replace Mr. Bortz as Lead Independent Director of
the Company.
Ms. Fischer has also been appointed to the Audit, Compensation
and Nominating/Governance Committees and she will be the Chair of
the Audit Committee. She will stand for election at the upcoming
2019 Annual Shareholder meeting. With Ms. Fischer’s appointment,
the average tenure of independent directors is approximately three
years.
Ms. Fischer is currently the Chief Financial Officer of Bellevue
Hospital, the world-renowned flagship institution for New York City
Health and Hospitals (NYCH+H). Bellevue has over 900 licensed beds
and an operating budget of more than $950 million. She began her
career at Bellevue as Associate Director in 2003, became Associate
Executive Director in 2011 and was promoted to Deputy CFO in 2016.
She was promoted to CFO in 2017. She received her undergraduate
degree cum laude from Cornell University and her Master of Public
Administration in Health Policy and Management from New York
University, where she was a recipient of the Robert F. Wagner, Jr.
Fellowship.
In her role as CFO of Bellevue, Ms. Fischer is responsible for
managing a team of financial managers and 400 other professionals.
Her team oversees budgeting, revenue enhancement, utilization,
financial reporting, cash management productivity improvement and
affiliate relations with the NYU School of Medicine. She is also a
key advisor to the hospital’s CEO and other members of the C-level
team on strategic planning and resource allocation. In both her
strategic and day-to-day responsibilities, Ms. Fischer is directly
involved in guiding Bellevue and its leaders through complex
government and private reimbursement practices. At Bellevue and
throughout the HHC, she is viewed as a subject matter expert on
optimal ways for hospitals to deliver the highest quality care at a
time of enormous technological change and financial pressure.
“We are thrilled to welcome someone of Rebecca’s stature,
intellect and experience to our Board,” stated Dr. Bruce A. Hanna,
Chairman of the Nominating/Governance Committee of Enzo. “Her
leadership at Bellevue, one of the most essential healthcare
delivery institutions in the world, underscores her strengths at
problem solving and her keen understanding of how to successfully
navigate the intersection of investment spending with an unwavering
commitment to science and innovation.”
Dr. Elazar Rabbani, Chairman and Chief Executive Officer of Enzo
continued, “Enzo is making significant progress and taking bold
steps forward as we become a new model of a modern day diagnostics
company. It is crystal clear to the Board and management team that
Rebecca’s background and experience make her the perfect fit to
help guide Enzo at this stage in its lifecycle.
“We want to thank Gregory Bortz for his extremely valuable
contribution to our company and all of our stakeholders and for
staying on the Board in order to help us in finalizing and
implementing our strategic plan,” commented Rabbani.
Ms. Fischer commented, “I’m pleased to join the Board of Enzo at
this critical moment in the Company’s progress and success. The
more I learn about Enzo’s goals -- to develop and validate
platforms focused on high-value areas that can reduce costs 30-50%
and satisfy clinical demand for fully automated platforms and
products while retaining an attractive profit margin – the more
excited I am to be a Board member and to leverage my experience to
contribute in any way I can to the growth of the business.”
Forward-Looking Statements
Except for historical information, the matters discussed in this
release may be considered "forward-looking" statements within the
meaning of Section 27A of the Securities Act of 1933, as amended
and Section 21E of the Securities Exchange Act of 1934, as amended.
Such statements include declarations regarding the intent, belief
or current expectations of the Company and its management,
including those related to cash flow, gross margins, revenues, and
expenses which are dependent on a number of factors outside of the
control of the Company including, inter alia, the markets for the
Company’s products and services, costs of goods and services, other
expenses, government regulations, litigation, and general business
conditions. See Risk Factors in the Company’s Form 10-K for the
fiscal year ended July 31, 2019. Investors are cautioned that any
such forward-looking statements are not guarantees of future
performance and involve a number of risks and uncertainties that
could materially affect actual results. The Company disclaims any
obligations to update any forward-looking statement as a result of
developments occurring after the date of this release.
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