MELBOURNE, Australia--(BUSINESS WIRE)--Genetic Technologies Limited (NASDAQ:GENE)(ASX:GTG) is pleased to announce the appointment of Mr. Michael Ohanessian as its new Chief Executive Officer.
Most recently, Mr. Ohanessian, aged 43, served for seven years as CEO of Vision Biosystems, a division of former ASX-listed Vision Systems Limited. During this period, Mr. Ohanessian led a strategic restructure of the Vision Biosystems business, involving the acquisition of a large UK-based reagents operation, and played a key part in successfully transforming it into a world leader in the immunohistochemistry market. In August 2006, Vision Biosystems was acquired by a competitor in a transaction which established an enterprise value for the business of approximately $700 million.
