Full Press Release Details
| Astrotech Corporation | |
| 907 Gemini Street | |
| Houston, Texas 77058-2762 | |
| 1.713.558.5000 | |
| fax: 1.713.558.5960 | |
| www.astrotechcorp.com |
ASTROTECH CORPORATION ANNOUNCES CHIEF FINANCIAL OFFICER RESIGNATION
Houston, Texas, June 08, 2009
Astrotech Corporation (NASDAQ: ASTC) today announced that Brian K. Harrington
has resigned as Senior Vice President, Chief Financial Officer, Treasurer and
Secretary effective June 04, 2009.
John Porter, Astrotech Corporation s Senior Vice President, will serve
as the Company s Interim CFO as the Company searches for Mr. Harrington s
On behalf of the Board of
Directors, I express my gratitude for Mr. Harrington s contributions to
the Company and the value he has helped create for shareholders and employees
as the Company has returned to profitability, said Thomas B. Pickens III,
Astrotech s Chairman and Chief Executive Officer.
In connection with his
resignation, Mr. Harrington and the Company agreed to terminate his employment
agreement, dated October 6, 2008 and the Company agreed to provide Mr. Harrington
the separation benefits provided for under the employment agreement. In
addition, Mr. Harrington will serve as a consultant to the Company through
About Astrotech Corporation
is one of the first commercial space companies and remains a strong
entrepreneurial leader in the aerospace industry. The Company serves our government and
commercial satellite and spacecraft customers with our pre-launch services from
our Astrotech Space Operations (ASO) subsidiary and incubates space technology
businesses now having formed three companies; the 1st Detect
Corporation which is developing a breakthrough mini-mass spectrometer first
developed for the International Space Station; Astrogenetix, Inc. is
producing biotech products in space and has recently developed a vaccine
candidate for Salmonella; and Airward Corporation is drawing on its space
heritage of sending cargo to space and is selling hazardous material containers
for the airline industry.
The statements in this document
may contain forward-looking statements that are made pursuant to the Safe
Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are subject to risks, trends, and uncertainties that
could cause actual results to be materially different from the forward-looking
statement. These factors include, but are not limited to, continued government
support and funding for key space programs, product performance and market
acceptance of products and services, as well as other risk factors and business
considerations described in the company s Securities & Exchange
Commission filings including the annual report on Form 10-K. Any
forward-looking statements in this document should be evaluated in light of
these important risk factors. The Company assumes no obligation to update these
forward-looking statements.
Corporate Marketing and
Astrotech Corporation