PHILADELPHIA, May 20 /PRNewswire-FirstCall/ -- eResearchTechnology,
Inc. (eRT), (Nasdaq: ERES), a leading provider of centralized ECG and
eClinical technology, ePRO and other services to the pharmaceutical,
biotechnology, medical device and related industries, announced today that
Richard Baron has informed the company that he will resign as Executive
Vice President and Chief Financial Officer effective June 17, 2008 and will
become Chief Financial Officer of Avid Radiopharmaceuticals, Inc., a
privately-held company based in Philadelphia. Effective on June 17, 2008,
Steven M. Eisenstein, eRT's Vice President and Controller, who has been
Controller of eRT for seven years, will become the interim Chief Financial
Officer and principal financial and accounting officer, while Michael J.
McKelvey, eRT's President and Chief Executive Officer, will assume the
non-financial responsibilities currently performed by Mr. Baron, including
investor relations and certain operating functions. Mr. Baron will be
assisting in the transition and a search for a permanent chief financial
officer will commence.
"Rick has made very significant contributions to the company's overall
success through his leadership of finance and other areas of the company,"
said Dr. McKelvey. "The company is a better one having been associated with
Rick, and we will miss him. While it is never easy to part company with a
valued colleague, we are fortunate that Rick has developed a strong
financial team under his direction to be able to transition to a new CFO.
We wish him tremendous success in his new position."
"It has been a privilege to work at eRT and I am very proud of the
highly capable team that we have created," said Mr. Baron. "I am looking
forward to the challenges and rewards of working with a clinical stage
company and I am fully committed to assisting eRT's senior management and
Board of Directors to ensure a smooth transition."
Based in Philadelphia, PA, eResearchTechnology, Inc.
(http://www.eRT.com) is a provider of technology and services to the
pharmaceutical, biotechnology and medical device industries on a global
basis. The Company is a market leader in providing centralized
core-diagnostic electrocardiographic (ECG) technology and services to
evaluate cardiac safety in clinical development. The Company is also a
leader in providing technology and services to streamline the clinical
trials process by enabling its customers to automate the collection,
analysis, and distribution of clinical data in all phases of clinical
development.
Statements included in this release may constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform
Act of 1995. Such statements, including, but not limited to, 2008 financial
guidance, involve a number of risks and uncertainties such as the Company's
ability to obtain new contracts and accurately estimate net revenues due to
uncertain regulatory guidance, variability in size, scope and duration of
projects, and internal issues at the sponsoring client, integration of
acquisitions, competitive factors, technological development, and market
demand. As a result, actual results may differ materially from any
financial outlooks stated herein. Further information on potential factors
that could affect the Company's financial results can be found in the
Company's Reports on Form 10-K and 10-Q filed with the Securities and
Exchange Commission. The Company undertakes no obligation to publicly
update any forward-looking statement, whether as a result of new
information, future events, or otherwise.
SOURCE eResearchTechnology, Inc.
 back to top
Related links:
http://www.eRT.com
|
