AKR.L Regulatory News (AKR)

3 Apr 2008 07:00

Akers Biosciences, Inc.03 April 2008 Embargoed: 0700hrs, 3 April 2008 Akers Biosciences, Inc. ("ABI" or the "Company") ABI Names Thomas A. Nicolette CEO ABI, the developer, manufacturer and supplier of rapid diagnostic testingequipment, announces the appointment of a new Chief Executive Officer and otherchanges to its Board. Having successfully begun the execution of the Company's transition of emphasisfrom R&D into volume sales of its core products over the past twelve months,Thomas A. Nicolette has become CEO of ABI with immediate effect. Dr Raymond F.Akers Jr., following a period of 12 years as Chief Executive Officer duringwhich he has bought forward, from concept through to completion, the 6 platformtechnologies that form the basis of the ABI's commercial offering today, willnow hold the position of Executive Vice Chairman of the Board. He will continueto lead the development of new products and technical support of ABI's existingproduct portfolio. Robert J. Paratore, who has served as a senior member of the finance departmentof ABI for 6 years, latterly as its Financial Controller, has been promoted toChief Financial Officer. Thomas A. Nicolette, President & CEO, commented, "These changes to the structure of the Board reflect the progress over the pastyear in which we have successfully identified and delivered sustainable routesto market of our products, up-scaled our marketing efforts worldwide andappointed one of the UK's leading investment banks for growth companies. Webelieve we now have the right team positioned to drive ABI forward to deliverinvestors the most value from over a decade of product development." The Company will publish its financial results for 2007 on Monday 7 April 2008. Enquiries: Thomas A. Nicolette President and CEO Tel. +1 856 848 8698 Ben Simons or Eleanor Williamson M:Communications Tel. +44 (0)20 7153 1540 Alasdair Younie Arbuthnot Securities Limited Tel. +44 (0)20 7012 2139 This information is provided by RNS The company news service from the London Stock Exchange