Full Press Release Details
Announces Resignations of Peter T. Kissinger, Ph.D. and Candice B. Kissinger
Selection of Peter T. Kissinger as Chairman Emeritus of the Board of
LAFAYETTE, IN, October 2, 2007 - Bioanalytical Systems, Inc. (Nasdaq: BASI)
announced today that Peter T. Kissinger, Ph.D. and Candice B. Kissinger have
resigned from the Board of Directors of BASi. Dr. Kissinger has also resigned
the Chief Scientific Officer and Chairman of the Board, and Mrs. Kissinger
resigned from the offices of Vice President, Secretary and Director of Research.
In connection with their resignations, BASi has entered into a severance
agreement with each of Dr. Kissinger and Mrs. Kissinger, as well as a license
agreement for a new technology which Mrs. Kissinger has developed while with
BASi. BASi also named Dr. Kissinger to be the Chairman Emeritus of its Board
Directors. This completes the negotiations regarding the departures of Dr.
Mrs. Kissinger that were previously disclosed by BASi.
M. Shepperd, President and Chief Executive Officer of BASi, noted today that
"all of the people of BASi wish to express their thanks to Pete and Candice
Kissinger for the leadership they have provided over their years with BASi.
acknowledge all of the fine work that Pete and Candice have accomplished
BASi. On behalf of the Board, I want to thank Pete and Candice for their
years of service with BASi. We know that they have had the best interests
BASi in mind throughout their tenures."
Kissinger commented, "Candice and I had a wonderful thirty year run at BASi and
it is a good time for us to move on to new opportunities. Our strengths and
passions are on the technical side and we are excited to apply our skills
several entrepreneurial activities."
contract research and research products company providing services and
laboratory instruments to the world's leading drug development companies and
life science research organizations. The Company focuses on developing
innovative services and products that increase efficiency and reduce costs
associated with taking new drugs to market. Visit www.bioanalytical.com for
release contains forward-looking statements that are subject to risks and
uncertainties including, but not limited to, risks and uncertainties related
management transition matters, the development of products and services,
in technology, industry standards and regulatory standards, and various market
and operating risks detailed in the company's filings with the Securities and
Exchange Commission.