Applied Imaging Announces Planned CEO Succession
03 Dezember 2004 - 3:00PM
PR Newswire (US)
Applied Imaging Announces Planned CEO Succession Robin Stracey Will
Be Promoted From President and COO to President and Chief Executive
Officer SAN JOSE, Calif., Dec. 3 /PRNewswire-FirstCall/ -- Applied
Imaging Corp. (NASDAQ:AICXE) announced today that in accordance
with a previously planned CEO succession, Carl W. Hull will resign
his position as Chief Executive Officer (CEO) effective December
31, 2004. Applied Imaging's Board of Directors will promote Robin
C. Stracey, President and COO, to the position of President and CEO
effective January 1, 2005. Mr. Hull will remain on the Company's
Board of Directors. "We value Carl's many contributions to Applied
Imaging over the past seven years," said G. Kirk Raab, Chairman of
the Company's Board of Directors. "Carl has been the primary driver
behind Applied Imaging's expansion into the Pathology arena from
its historical base of strength in clinical Cytogenetics. He
deserves much of the credit for the success of the Ariol(R) system
as a platform for automated image analysis in the pathology
laboratory. Most recently, he has overseen the formation and
staffing of CTC, Inc., a wholly owned subsidiary specifically
established to develop and commercialize a system for the
detection, quantification and characterization of circulating tumor
cells in human blood." Mr. Raab added that, "Robin Stracey is well
prepared for his new role as CEO. He has over 20 years of
diagnostic and life sciences experience, and an extensive
international operating background. In the last year, in his role
as President and COO at Applied Imaging, his focus has been on
firming up the Company's strategy and improving the efficiency and
effectiveness of Company operations. Robin is well-respected
throughout the organization for his leadership style and skills,
and our Board is confident that Robin is the right leader to take
the Company forward." Carl W. Hull, Applied Imaging CEO, commented
that, "I am grateful for the opportunity to have been associated
with Applied Imaging over the last seven years. As a market leader
in the manufacture and sale of automated imaging and image analysis
systems for clinical cytogenetics and pathology, the Company is now
pursuing a number of promising market opportunities. I also believe
I have an outstanding successor in Robin Stracey, and I look
forward to working with him to assure a smooth and orderly
transition of leadership over the next several weeks". Robin
Stracey joined the Company on November 17, 2003 as President and
Chief Operating Officer. Prior to joining Applied Imaging, Mr.
Stracey was the Vice President and General Manager of a
Chromatography and Mass Spectrometry business unit at Thermo
Electron Corporation. Prior to that he was a Corporate Vice
President at Dade Behring Inc., and General Manager of the Syva
Company subsidiary, a leading supplier of specialized diagnostic
systems and reagents. Mr. Stracey has a Bachelors of Science degree
with honors in life sciences from the University of Nottingham in
the United Kingdom and is a graduate of the Executive Program at
the Stanford University Graduate School of Business. "Carl and I
have worked together to build a strong team and product portfolio
over the past year," said Robin Stracey. "I am excited about the
Company's prospects. We have a solid foundation in our
world-leading position in clinical cytogenetics and we see
significant upside in both our pathology and our circulating tumor
cell initiatives. I anticipate the Company playing a substantial
role in creating diagnostic tools that enable physicians to better
select therapies for cancer patients and thereby enhance quality of
life and survival rates." About Applied Imaging Applied Imaging
Corp., based in San Jose, California, is the leading supplier of
automated imaging and image analysis systems used in genetics and
pathology laboratories for the analysis of chromosomes and
molecular markers. The Company markets a wide range of systems for
fluorescence and brightfield microscopy applications and has
installed over 3,500 devices in over 1,000 laboratories and in more
than 60 countries. The Company is developing a non-magnetic cell
separation technology for isolating and analyzing circulating tumor
cells from the blood of cancer patients. More information about
Applied Imaging can be found at http://www.aicorp.com/. This press
release contains forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995, regarding, among
other matters, the ultimate success of our pathology and our
circulating tumor cell initiatives, including the ability of CTC to
succeed in developing its reagent based automated system for the
accurate detection and characterization of tumor cells that
circulate in the blood of cancer patients. Forward-looking
statements address matters that are subject to a number of risks
and uncertainties, including the uncertainty of clinical studies
and regulatory approvals for circulating tumor cell detection
products. Actual results could differ materially from those
projected in the forward-looking statements as a result of a number
of factors, including the failure of Applied Imaging to develop
successfully and commercialize the Company's micrometastasis or
genetic instrument business, potentially unacceptable results from
preclinical and clinical trials of circulating tumor cell
enrichment methods and other such factors as set forth in Applied
Imaging's filings with the Securities and Exchange Commission,
including the Form 10-K for the Fiscal Year Ended December 31,
2003. The forward-looking statements in this news release are made
as of December 3, 2004, and Applied Imaging is under no obligation
to revise or update these forward-looking statements. Contacts: For
More Information: CCG Investor Relations Crocker Coulson, President
15300 Ventura Boulevard, Suite 303 Sherman Oaks, CA 91403 (818)
789-0100 Applied Imaging Corp Carl W. Hull, Chief Executive Officer
120 Baytech Drive, San Jose, CA 95134 (408) 719-6417 DATASOURCE:
Applied Imaging Corp. CONTACT: Investor Relations, Crocker Coulson,
President of CCG, +1-818-789-0100, , for Applied Imaging Corp; or
Carl W. Hull, Chief Executive Officer of Applied Imaging Corp,
+1-408-719-6417, Web site: http://www.aicorp.com/
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