KANSAS CITY, Mo., Nov. 20 An investor group in TrinityBiotech plc (Nasdaq: TRIB), an Irish based developer and manufacturer ofdiagnostic products whose shares are traded in the form of American DepositoryReceipts on NASDAQ, is encouraged that Clint Severson has joined the company'sboard of directors.
Commenting on the news, Tom Reidy stated, "We are delighted that Clint hasagreed to serve as an independent director, bringing the total of independentdirectors to two. While Clint's appointment is a step in the right direction,we continue to believe that the election of an independent director controlledboard is essential to an increase in company share value. We look forward toClint remaining as part of our new board immediately following our pendingaction to remove and replace the current board."
In October, the investor group directed that Trinity Biotech shareholdersbe given the opportunity to vote on a slate of replacement directors,including Mr. Severson. The remaining proposed slate consists of thefollowing individuals:
Further commenting on the appointment of Mr. Severson, Tom Reidy statedthat 'based on several conversations with Mr. Severson, I believe we aretotally aligned on the aspects of effective corporate governance, transparencyof board and company actions, and performance-based remuneration programs.Clint's emphasis on management accountability and the need for sharp focus andeffective strategic planning are essential in today's marketplace. We justneed more people like Clint on the board '.1. Dr. Jack C. Chow, M.D., M.B.A. -- Partner, CRV Capital, LLC and adjunct professor at Carnegie Mellon University's Heinz School of Public Policy and Management; 2. Mr. Mike Gausling -- Managing Partner, Originate Ventures; 3. Dr. John H. Halsey, Ph.D. -- Chief Executive Officer, Director, Founder, ProGene Biomedical, Inc. (dba IBT Laboratories); 4. Mr. Steven A. Mock, CPA -- Partner, BKD, LLP; and 5. Mr. Thomas Reidy.
SOURCE KC Investor Group