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|Quidel Promotes S. Wayne Kay to CEO; Andre de Bruin Elected Chairman of the Board|
SAN DIEGO, Aug. 14 /PRNewswire/ -- Quidel Corporation (Nasdaq: QDEL), a leading provider of rapid point-of-care (POC) diagnostic tests, today announced the promotion of S. Wayne Kay to President and Chief Executive Officer, effective immediately. Andre de Bruin, who has served as Quidel's Vice Chairman and Chief Executive Officer, will serve as the Company's Executive Chairman succeeding Richard C. E. Morgan who will continue to serve as a Director. In his capacity as Chairman, Mr. de Bruin will be actively involved on a part-time basis in various strategically important projects.
Mr. Kay joined Quidel in January 2001 as President and Chief Operating Officer and has worked closely with Mr. de Bruin in managing the Company's operations since that time.
"During the past three years Andre and his team have set the stage for Quidel to achieve its position as a leading out-of-hospital POC diagnostic testing company both in the U.S. and global markets, and I look forward to building on the strategies and initiatives he has put in place," said Mr. Kay. "We have a strong and growing line of marketed products, and exciting, patented technology with potential to significantly change our industry. I look forward to the challenges and opportunities that Quidel faces."
"This is a carefully planned transition and I'm looking forward to continue working with Wayne. Since joining the Company, he has spearheaded several key initiatives and I am confident that he will further strengthen Quidel's leadership position," added Andre de Bruin. "I will continue to play an active role as Executive Chairman and, in particular, I will assist the Company with the strategic development of its Layered Thin Film(TM) platform technology."
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.