Full Press Release Details
INFORMATION: Michael R. Cox
SYSTEMS, INC. ANNOUNCES MANAGEMENT CHANGES, ELECTION
West Lafayette, Indiana, January 27,
2010 - Bioanalytical Systems, Inc. (NASDAQ: BASI) today announced several
changes to its Board of Directors and senior management. Richard M.
Shepperd, President and Chief Executive Officer of BASi, retired from the office
of President of the Company and has advised the Board of Directors that he
intends to retire from his position as Chief Executive Officer and as a director
of BASi on February 12, 2010. The Board intends to conduct a national
search for a new Chief Executive Officer.
Company also announced today that the Board of Directors has elected Anthony S.
Chilton, Ph.D., 53, BASi's Chief Operating Officer, Scientific Services, as the
interim President of BASi. Dr. Chilton has over 30 years of
experience as a scientist and executive in leading life sciences companies in
England, Canada and the United States. He joined BASi in December
2008. Prior to joining BASi, Dr. Chilton was in charge of early
development programs at Atherogenics, Inc. of Alpharetta, Georgia and provided
consulting and advisory services to various pharmaceutical
companies. Prior to that, he was Vice President of the
Biopharmaceutical Development Division of Cardinal Health Inc., which he joined
through a predecessor company in 1998 that was acquired by Cardinal in
2002. Previously, Dr. Chilton spent three years with life sciences
companies in Canada, prior to which he held positions in his native United
Kingdom. Dr. Chilton received his bachelor's degree in Chemistry from
the University of East Anglia in 1981, and his Ph.D. in Analytical Chemistry
from the University of Hertfordshire in 1993. Dr. Chilton is expected
to assume the additional duties of Chief Executive Officer upon Mr. Shepperd's
departure, pending the results of the executive search.
Board would like to express its sincere appreciation to Mr. Shepperd for his
strong leadership at a critical time in the Company's history," said David W.
Crabb, M.D. the Chair of BASi's Nominating Committee. "We are
confident that Dr. Chilton has the background, knowledge and industry experience
to effectively lead the Company into the future."
Company also announced that A. Charlene Sullivan, Ph.D., has been elected as a
director of the Company effective January 26, 2010, replacing William E.
Baitinger who retired on January 13, 2010. "We are pleased to welcome
Dr. Sullivan to the Board and look forward to working with her," Dr. Crabb
said. The Board of Directors has not determined whether Dr. Sullivan
will be named to any Board committees.
Sullivan has served as an Associate Professor of Management at the School of
Management and the Krannert Graduate School of Management at Purdue University
since 1984. In addition, Dr. Sullivan has served as a financial
analyst for the Indiana Gaming Commission since 1995 and as a risk management
consultant for Edgar Dunn & Company (a strategy and consulting firm) since
1994. She currently serves on the board of directors of the Greater
Lafayette Community Foundation and on the Asset-Liability Committee for the
Purdue Employees Federal Credit Union. Dr. Sullivan earned a B.S.
degree in Home Economics from the University of Kentucky and a M.S. and Ph.D. in
Management from Purdue University.
Bioanalytical Systems, Inc.
pharmaceutical development company providing contract research services and
monitoring instruments to the world's leading drug development companies and
medical research organizations. The company focuses on developing
innovative services and products that increase efficiency and reduce the cost of
taking a new drug to market. Visit www.BASInc.com for
more information about BASi.
release may contain forward-looking statements that are subject to risks and
uncertainties including, but not limited to, those market and operating risks
detailed in the company's filings with the Securities and Exchange