programs. From 1996 through 2007, Mr. McLaughlin was with PRAECIS Pharmaceuticals, where as the company's first Chief Financial Officer he had responsibility for private financings, partnership financings, and the company's IPO and secondary stock offerings. In 2004, Mr. McLaughlin became COO and then President and CEO and member of the Board of Directors of PRAECIS and was responsible for negotiations resulting in the sale of the company to GlaxoSmithKline. Earlier in his career he spent 16 years in senior financial roles at Prime Computer and Computervision Corporation.
"Qteros is a fast-moving company with a solid foundation and a great deal of promise in a next-generation industry," said Mr. McLaughlin. "It's very exciting to join the company as it prepares for significant growth."
Mr. Lerner was most recently Vice President of Ventures and Business support for BP's chemicals business based in Shanghai, China, where he served on the Board of Directors and represented BP's shareholder interests in a large joint venture located outside of Shanghai. Prior to that role, he was based in the Chicago area, as general manager of a $600 million global chemical business with manufacturing facilities in the U.S., Canada, and Europe. Earlier in his career, he served as Vice President of Ventures and Development for BP Chemicals based in Hong Kong and Venture Development Manager for Amoco Corporation, as well as holding positions in finance and engineering.
"Throughout my career, I've led multi-functional teams that were focused on creating value through developing and implementing new strategies, projects, and commercial arrangements -- in businesses with a commodity focus and a global perspective," Lerner said. "Bringing that experience to Qteros, a cutting-edge energy company with national and international ties, allows me to apply my skills in one of today's most exciting industries."
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