BASi also announced the resignation of Alberto Hidalgo, Vice President, Business Development and Marketing.About BASi BASi is a drug discovery and development services company providing contract research services and instruments to the world's leading pharmaceutical companies and medical research organizations. The company, based in the Purdue Research Park, focuses on developing innovative services and products that increase efficiency and reduce the cost of taking new and generic drugs to market. Visit www.BASInc.com for more about BASi. Safe Harbor Statement This release contains forward-looking statements that are subject to risks and uncertainties including, but not limited to, risks and uncertainties related to changes in the market and demand for our products and services, the development, marketing and sales of products and services, changes in technology, industry standards and regulatory standards, and various market and operating risks detailed in the company's filings with the Securities and Exchange Commission.
BASi (Bioanalytical Systems, Inc.) (NASDAQ:BASI) announced today that CFO Jacqueline M. Lemke has been named to the additional posts of interim President & CEO. Ms. Lemke succeeds Anthony S. Chilton, Ph.D., who has resigned as CEO to pursue other opportunities. "Jacqueline Lemke has demonstrated exceptional skill, energy and commitment since she joined BASi as CFO three months ago. In this short time she has significantly reduced the company's cost structure, refocused our marketing program, and instituted aggressive performance goals for all operating departments. Many more changes are in the works. As interim President and CEO, with continuing responsibility as CFO, we expect Jackie to complete the transformation of BASi and deliver the growth and profitability we believe this company is capable of delivering. Board member Richard Johnson and I, with more than 60 years of combined major pharma and CRO experience, will work closely with Jackie during this interim period," said John B. Landis, Ph.D., Chairman. "BASi has provided drug development and discovery services to the pharmaceutical industry for more than 35 years. We have a superb and dedicated technical staff, world-class laboratory facilities, and we enjoy an outstanding reputation for the quality of our services and proprietary test instruments. With these critical building blocks in place, I believe we can improve the company's operating performance and restore revenue growth, and I am committed to making this happen," Ms. Lemke said. Ms. Lemke has more than 20 years of experience in critical financial reporting and management positions, most recently as Vice President of Finance and Global CFO of Remy, Inc., a $900 million division of Remy International, where she built a 44-person global finance team and created a financial system to support rapid decision making and clear lines of management accountability. Earlier, she served as Vice President of Finance, Global CFO Connected Home Solutions at Motorola, Inc., and was Strategic Planning Director, Global Invista division at DuPont. Ms. Lemke is a CPA and began her career as a tax consultant at Deloitte Touche.