This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Mark McGowan Appointed Interim CEO Of CombiMatrix, Effective July 1, 2010

MUKILTEO, Wash., June 14, 2010 (GLOBE NEWSWIRE) -- CombiMatrix Corporation (Nasdaq:CBMX) announced today that its Board of Directors has appointed Mark McGowan to the role of Interim President and Chief Executive Officer, effective July 1, 2010 upon the transition from current President and CEO, Dr. Amit Kumar.

Dr. Amit Kumar stated, "As we had previously announced, I plan to leave the post of President and CEO of CombiMatrix at the end of June and I am looking forward to transitioning that role to Mark, who will continue to execute our restructuring plans in preparation for the appointment of a permanent CEO. Mark, who is currently Chairman of the Board, has taken a leadership role in the formulation our new strategy and his placement in the CEO role will better position him to effectively implement our restructuring plan. Mark's appointment as interim CEO, as well as the other announced adjustments to the Board are components of a restructuring plan that was announced in April. I plan to remain on the Board subsequent to leaving my, day-to-day, executive role with the Company."

In May, the Board of Directors of CombiMatrix formed a CEO Search Committee, chaired by Dr. Scott Gottlieb, to oversee the recruitment of a permanent CEO to replace Dr. Kumar. The other members of the committee are Mark McGowan, Rigdon Currie, and Dr. Kumar. After a rigorous selection process, including interviews with several leading executive search firms, the Committee has retained Caldwell Partners to lead the search and recruitment of the new CEO. Jodie Emery of Caldwell will serve as the lead partner on the CombiMatrix CEO search.  Information about Caldwell Partners is available at www.caldwellpartners.com . Caldwell Partners is a highly experienced search firm, and Ms. Emery has conducted numerous CEO-level searches in the biotechnology and diagnostics fields.

"We are delighted to have been awarded the CombiMatrix assignment. The company is in an exciting phase, with outstanding people and technology. We are equally pleased with the response we have already received from stellar candidates expressing interest in the CEO position," stated Emery. "We are pleased that Mr. McGowan will take on the CEO role on an interim basis, and we look forward to working in conjunction with Mr. McGowan and the rest of the CombiMatrix Board of Directors as they continue to realign the organization in preparation for the placement of a permanent executive," concluded Emery.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs