BIRMINGHAM, Ala., Jan. 31 /PRNewswire/ -- Atherotech, Inc., a pioneer in cardiodiagnostic cholesterol testing technology, today announced a series of corporate restructuring initiatives. Driven by the company’s board of directors, the new initiatives will strengthen Atherotech’s management infrastructure and position the company for its next phase of growth.
Roseanne Varner has stepped down as president and chief executive officer. She will be replaced by David Schreiber (47), who joins Atherotech as acting president and CEO. Schreiber is a healthcare industry veteran and long-time consultant to the company. He will report to the board of directors and his appointment is effective immediately.
Schreiber brings a wealth of executive management and relevant industry experience to Atherotech. Prior to his consulting role at the company, he spent seven years at Dianon Systems, Inc. as a senior vice president and chief financial officer. Before Dianon, he spent 11 years at Quest Diagnostics, ending his tenure there as vice president and general manager of the company’s Midwest region. Schreiber earned a B.S. degree in finance and an MBA from Northern Illinois University. He currently serves on the board of Nanogen, Inc., a medical diagnostics company.
In addition to the CEO transition, the company has named Dr. Kneeland Youngblood as chairman of the board. Youngblood is co-founder and managing partner of Pharos Capital in Dallas, Texas. Pharos is a long-time Atherotech shareholder. Youngblood currently serves on Atherotech’s board of directors.
To further expand the leadership team, Atherotech has formed an executive management committee to provide high-level strategic guidance as the company embarks on its next stage of growth. Representing a mix of board members and corporate executives, the committee includes: Dr. Lawrence Greer, senior managing director of Greer Capital Advisors in Birmingham, Alabama; and Atherotech executives, chief financial officer, Michael Mullen and vice president of operations, Robert Shufflebarger.
Commenting on the restructuring initiatives, Dr. Youngblood paid tribute to Varner’s contribution since co-founding the company in 1999. “We appreciate Roseanne’s vision and her efforts to grow the company. Now, it’s time to augment the management infrastructure with new executive skill sets that will position Atherotech to leap beyond the 3.5 million VAP tests performed since the company’s inception, and beat the 2006 record of one million tests in just one year. David’s impressive accomplishments in both publicly listed and private companies will serve us well as we embark on this ambitious new phase. We’re pleased to welcome him on board.”
Executive bios may be viewed on Atherotech’s website at http://www.atherotech.com.
About Atherotech
Atherotech is a medical technology company focused on developing a comprehensive line of cardiodiagnostic products based on the company’s proprietary VAP Test technology. The company’s first product, the VAP Cholesterol Test -- the new standard of care for patients at risk for cardiovascular disease -- is available through national and regional diagnostic laboratories. The company is headquartered in Birmingham, Alabama. For more information, please visit the company’s website at http://www.atherotech.com.
Source: Atherotech, Inc.
