Applied Imaging (NASDAQ:AICXE)
Historical Stock Chart
From Jun 2019 to Jun 2024
![Click Here for more Applied Imaging Charts. Click Here for more Applied Imaging Charts.](/p.php?pid=staticchart&s=N%5EAICXE&p=8&t=15)
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/