Applied DNA Sciences Appoints Karol Kain Gray as Chief Financial Officer
21 August 2013 - 10:41PM
Marketwired
Applied DNA Sciences, Inc. (OTCBB: APDN), (Twitter: @APDN) (the
"Company"), a provider of DNA-based anti-counterfeiting technology
and product authentication solutions, announced today that Ms.
Karol Kain Gray will join the company as Chief Financial Officer,
reporting to Dr. James A. Hayward, CEO and President. Beginning in
October, she will be responsible for strategic and tactical matters
as they relate to budget management, forecasting needs, and
establishing and maintaining contacts with stockholders, financial
institutions, Wall Street and the investor community.
Said Dr. Hayward: "We are thrilled to bring her incredible
experience and range of skills to the company. As a prior member of
our Board of Directors, Karol is already deeply aware of our
business and the commercial opportunities. Her management skill are
among the best I have ever known."
Ms. Gray comes to the company from the University of North
Carolina, Chapel Hill, where she was Vice Chancellor for Finance
and Administration overseeing financial planning and budgeting;
treasury and risk management; facilities planning, construction and
operations; purchases and stores; public safety, environmental
health and safety; and auxiliary enterprises. The University's
financial budget for fiscal year 2012-2013 is $3.4 billion.
Ms. Gray served as the Executive Vice President/Treasurer of the
Chapel Hill Foundation Real Estate Holdings, Inc., Treasurer of The
University of North Carolina at Chapel Hill Investment Fund, Inc.
(CHIF), Treasurer of The University of North Carolina at Chapel
Hill Foundation, Inc., and Secretary/Treasurer of UNC Management
Company. Ms. Gray also sits on the Board of Directors of Chapel
Hill/Carrboro Chamber of Commerce, MBA @UBC LLC, UNC Press Board of
Governors, and UNC Health Care System.
Ms. Gray has 35 years of financial, organizational and
management experience. Her previous position was at the University
at Stony Brook, where she worked her way up steadily as a financial
analyst, chief accountant, controller, Vice President for Finance
and Administration and the Chief Financial Officer. As Chief
Financial Officer for the Stony Brook Foundation, she provided
financial direction and support for the budget, investment and
realty committees and was responsible for the management of an
endowment of approximately $120 million with net assets of $200
million.
Ms. Gray is a graduate of Hofstra University with a bachelor's
degree in business administration.
In 2011 Ms. Gray was named one of Long Island's Top 50 Most
Influential Women in Business. Since August 2011, Ms. Gray has been
a Director, Chairman of the Audit Committee and Member of the
Compensation Committee, for APDN.
Ms. Gray succeeds Kurt Jensen who resigned effective today to
pursue other interests. The company thanks Kurt for his significant
contributions to APDN over the past seven years and wishes him well
in his future endeavors. In addition to serving as President and
CEO, Dr. Hayward will serve as interim CFO until October 7, 2013,
when Ms. Gray's appointment as CFO becomes effective.
About Applied DNA Sciences
APDN is a provider of botanical-DNA based security and
authentication solutions that can help protect products, brands and
intellectual property of companies, governments and consumers from
theft, counterfeiting, fraud and diversion. SigNature® DNA and
smartDNA, our principal anti-counterfeiting and product
authentication solutions that essentially cannot be copied, provide
a forensic chain of evidence and can be used to prosecute
perpetrators.
The statements made by APDN may be forward-looking in nature.
Forward-looking statements describe APDN's future plans,
projections, strategies and expectations, and are based on
assumptions and involve a number of risks and uncertainties, many
of which are beyond the control of APDN. Actual results could
differ materially from those projected due to our short operating
history, limited financial resources, limited market acceptance,
market competition and various other factors detailed from time to
time in APDN's SEC reports and filings, including our Annual Report
on Form 10-K, filed on December 20, 2012 and our subsequent
quarterly reports on Form 10-Q. APDN undertakes no obligation to
update publicly any forward-looking statements to reflect new
information, events or circumstances after the date hereof to
reflect the occurrence of unanticipated events.
MEDIA CONTACT: Mitchell Miller 239-240-8818 fax: 631-444-8848
INVESTOR CONTACT: Debbie Bailey 631-240-8817 fax: 631-444-8848 FCMN
Contact: Email Contact Web site: http://www.adnas.com Twitter:
@APDN, @APDNInvestor
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