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|Quidel Names Paul Landers as Chief Financial Officer|
SAN DIEGO, Aug. 20 /PRNewswire/ -- Quidel Corporation (Nasdaq: QDEL), a leading provider of rapid point-of-care (POC) diagnostic tests, today announced the appointment of Paul E. Landers, as Vice President and Chief Financial Officer, effective September 4, 2001. Mr. Landers will report to S. Wayne Kay, Quidel's President and Chief Executive Officer.
A highly accomplished executive, Mr. Landers has three decades of experience in finance, business operations and strategic management. Most recently, he served as Chief Financial Officer and Director of International Isotopes Inc., a public contract manufacturer of radiopharmaceuticals and radiochemicals for industrial and healthcare applications. Previously, he was Chief Financial Officer of Aavid Thermalloy, LLC, a leading provider of thermal management solutions with 15 manufacturing facilities around the world. At Aavid, Mr. Landers played a key role in the company's successful IPO, in establishing a manufacturing presence in China and in growing annual revenues from $60 million to over $275 million. He also served as Managing Director, VP of Operations, for Charles River Laboratories, a pharmaceutical division of Bausch & Lomb.
"Paul's expertise in financial leadership, strategic planning, corporate financing, supply chain management, operational controls and M&A, among others, will be of great value to Quidel, and I welcome him to our executive team," said S. Wayne Kay. "His appointment comes at an important stage in Quidel's growth as we solidify our position as a leading out-of-hospital POC diagnostics company. We expect his financial judgment and practical business sense to be invaluable as we expand our product line, add to our manufacturing operations and further develop our proprietary technology platforms."
"I am delighted to be working with Wayne and the Quidel management team. We expect that together, we will be able to make significant progress by remaining focused on key corporate initiatives and on achieving Quidel's growth objectives," added Mr. Landers.
Mr. Landers received a BA in Economics from the University of Massachusetts, and an MBA in Finance and Organizational Studies from Boston College, Carroll School of Management.
This press release contains forward-looking statements regarding Quidel's future activities within the meaning of the federal securities laws. These forward-looking statements involve material risks and uncertainties. Many possible factors could affect the future results and performance of Quidel's products, such that actual results and performance may differ materially. If Quidel's products fail to perform as expected, or if there is lower consumer demand for these products than expected, Quidel's financial condition and operating results may be materially and adversely affected. Quidel's financial condition and operating results may also be materially and adversely affected by a number of other factors, including, without limitation, seasonality, adverse changes (both domestically and internationally) in competitive and economic conditions, actions by the Company's distributors, manufacturing and production delays or difficulties and adverse actions or delays in product reviews by the FDA. Please see the discussion of these and other factors in Quidel's annual report on Form 10-K and subsequent quarterly reports on Form 10-Q.