Christine Tsingos Announces Plans to Retire as CFO of Bio-Rad Laboratories, Inc. Effective April 30, 2019
04 January 2019 - 8:30AM
Business Wire
Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb), a global leader
of life science research and clinical diagnostic products, today
announced that Christine A. Tsingos has informed the company of her
intention to retire as Executive Vice President and Chief Financial
Officer effective April 30, 2019. Ms. Tsingos will remain in her
current role through April 30 and will assist in the orderly
transition to a successor.
“After 16 years as CFO of Bio-Rad, Christine leaves a tremendous
legacy of financial stewardship that has served the company and
investors well,” said Norman Schwartz, Bio-Rad President and Chief
Executive Officer. “On behalf of the entire Board and management
team, I thank Christine for her integrity, dedication, and
leadership,” he added.
“I am proud and fortunate to have spent so many years being part
of Bio-Rad, a great company focused on advancing discovery and
improving lives,” Ms. Tsingos said. “I am excited about spending
more time with my family and the prospect of serving on the boards
of other companies. Until then, I am dedicated to helping Bio-Rad
find my successor and aiding in a smooth transition.”
Over the past 16 years, Bio-Rad has increased its revenues more
than 240 percent, boosted profitability and cash flow, and enjoyed
an appreciation in its stock price from approximately $30 to a
recent high of more than $300 per share.
The company has initiated a comprehensive search for a
successor.
About Bio-Rad
Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb) is a global
leader in developing, manufacturing, and marketing a broad range of
innovative products for the life science research and clinical
diagnostic markets. With a focus on quality and customer service
for over 65 years, our products advance the discovery process and
improve healthcare. Our customers are university and research
institutions, hospitals, public health and commercial laboratories,
biotechnology, pharmaceutical, as well as applied laboratories that
include food safety and environmental quality. Founded in 1952,
Bio-Rad is based in Hercules, California, and has a global network
of operations with more than 8,000 employees worldwide. Bio-Rad had
revenues exceeding $2.1 billion in 2017. For more information,
please visit www.bio-rad.com.
This release may be deemed to contain certain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements include,
without limitation, statements we make regarding Ms. Tsingos’ plans
to remain in her current role until April 30, 2019 and to assist in
the orderly transition to a successor. Forward-looking statements
generally can be identified by the use of forward-looking
terminology such as “will”, “believe,” “expect,” “anticipate,”
“may,” “plan,” “intend,” “estimate,” “offers,” or similar
expressions or the negative of those terms or expressions, although
not all forward-looking statements contain these words. Such
statements involve risks and uncertainties, which could cause
actual results to vary materially from those expressed in or
indicated by the forward-looking statements. These risks and
uncertainties include recent and planned changes to our global
organizational structure and executive management team, lack of key
personnel could hurt our business, our ability to compete
effectively, our ability to develop and market new or improved
products, and international legal and regulatory risks. For further
information regarding our risks and uncertainties, please refer to
the “Risk Factors” and “Management’s Discussion and Analysis of
Financial Condition and Results of Operation” in Bio-Rad’s public
reports filed with the Securities and Exchange Commission,
including our most recent Annual Report on Form 10-K and our
Quarterly Reports on Form 10-Q. Bio-Rad cautions you not to place
undue reliance on forward-looking statements, which reflect an
analysis only and speak only as of the date hereof. We disclaim any
obligation to update these forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20190103005688/en/
Bio-Rad Laboratories, Inc.Tina Cuccia, Corporate
Communications510-724-7000tina_cuccia@bio-rad.com
Bio Rad Laboratories (NYSE:BIO)
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