KANSAS CITY, Mo., Nov. 20 /PRNewswire/ -- An investor group in Trinity Biotech plc (Nasdaq: TRIB), an Irish based developer and manufacturer of diagnostic products whose shares are traded in the form of American Depository Receipts on NASDAQ, is encouraged that Clint Severson has joined the company's board of directors.
Commenting on the news, Tom Reidy stated, "We are delighted that Clint has agreed to serve as an independent director, bringing the total of independent directors to two. While Clint's appointment is a step in the right direction, we continue to believe that the election of an independent director controlled board is essential to an increase in company share value. We look forward to Clint remaining as part of our new board immediately following our pending action to remove and replace the current board."
In October, the investor group directed that Trinity Biotech shareholders be given the opportunity to vote on a slate of replacement directors, including Mr. Severson. The remaining proposed slate consists of the following individuals:
1. Dr. Jack C. Chow, M.D., M.B.A. -- Partner, CRV Capital, LLC and adjunct professor at Carnegie Mellon University's Heinz School of Public Policy and Management; 2. Mr. Mike Gausling -- Managing Partner, Originate Ventures; 3. Dr. John H. Halsey, Ph.D. -- Chief Executive Officer, Director, Founder, ProGene Biomedical, Inc. (dba IBT Laboratories); 4. Mr. Steven A. Mock, CPA -- Partner, BKD, LLP; and 5. Mr. Thomas Reidy.
Further commenting on the appointment of Mr. Severson, Tom Reidy stated that 'based on several conversations with Mr. Severson, I believe we are totally aligned on the aspects of effective corporate governance, transparency of board and company actions, and performance-based remuneration programs. Clint's emphasis on management accountability and the need for sharp focus and effective strategic planning are essential in today's marketplace. We just need more people like Clint on the board '.
|SOURCE KC Investor Group|
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