Mr. Hull, currently Gen-Probe's president and chief operating officer, will become president and CEO following the retirement of Henry L. Nordhoff as the Company's CEO on May 17, 2009. Mr. Nordhoff, who has served as Gen-Probe's chief executive officer since 1994, will become non-executive chairman upon his re-election to the board by stockholders at the Company's 2009 annual meeting.
"I'm delighted to announce the board's unanimous election of Carl as Gen-Probe's next CEO," Nordhoff said. "He brings unparalleled experience in our field and a deep understanding of molecular diagnostics. His keen intellect and unflagging energy will prove invaluable as he takes the helm of the Company."
"In nearly 15 years as CEO of Gen-Probe, Hank has presided over tremendous business growth, product innovation and shareholder value creation," said Armin Kessler, Gen-Probe's lead independent director and former chief operating officer of Hoffman-La Roche. "The Company has grown from a subsidiary of Chugai, with $61 million in annual revenues, to a public company with a market capitalization exceeding $2 billion and revenues of $473 million last year. Gen-Probe's customers, employees and shareholders owe him a debt of gratitude, and the board is fortunate to be able to continue benefiting from his guidance and leadership."
About Gen-Probe
Gen-Probe Incorporated is a global leader in the development, manufacture and marketing of rapid, accurate and cost-effective nucleic acid tests (NATs) that are used primarily to diagnose human diseases and screen donated human blood. Gen-Probe has more than 25 years of NAT expertise, and received the 2004 National Medal of Technology, America's highest honor for technological innovation, for developing NAT assays for blood screening. Gen-Probe is headquartered in San Diego and employs approximately 1,000 people. For more information, go to www.gen-probe.com.
Caution Regarding Forward-Looking Statements
Any statements in this press release relating to expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and are forward-looking statements. These statements are often, but not always, made through the use of words or phrases such as believe, will, expect, anticipate, estimate, intend, plan and would. For example, statements regarding future growth, the composition of the board of directors, and the plans and objectives of management are forward-looking statements. Forward-looking statements are not guarantees of performance. They involve known and unknown risks, uncertainties and assumptions that may cause actual results, levels of activity, performance or achievements to differ materially from those expressed or implied. Some of these risks include, but are not limited to, the risk that we cannot retain key executives. For additional information about risks and uncertainties we face and a discussion of our financial statements and footnotes, see documents we file with the SEC, including our most recent annual report on Form 10-K and all subsequent periodic reports. We assume no obligation and expressly disclaim any duty to update forward-looking statements to reflect events or circumstances after the date of this news release or to reflect the occurrence of subsequent events.
Contact:
Michael Watts Vice president, investor relations and corporate communications 858-410-8673
