AMRI (NASDAQ: AMRI) today announced the promotion of Chief Financial
Officer Mark T. Frost to senior vice president, administration and chief
financial officer. In this expanded role, Mr. Frost will add to his
responsibilities for finance and accounting the leadership for investor
relations, sourcing, legal, communications, information technology,
facility management and logistics, and will continue to report to
Chairman, CEO and President Thomas E. D’Ambra, Ph.D. Mr. Frost joined
AMRI as chief financial officer in December 2004.
"In recognition of Mark’s role in the organization and his contributions
above and beyond a CFO’s responsibilities, I am pleased to announce this
promotion,” said Dr. D’Ambra. "Mark has made significant contributions
and provided important leadership to AMRI on multiple fronts as a member
of the senior management team. Over the past four years, he has helped
lead an increase in the profitability of our contract business,
excluding Allegra, of over 340%.”
Dr. D’Ambra continued, "As part of this promotion, additional
responsibilities have been added to his workload. Given Mark’s record
for obtaining positive results, we believe this transition will further
enable AMRI to benefit from organizational synergies as we continue to
focus on implementing practices that will keep our costs of doing
business low while maintaining industry-leading standards for quality
and customer service.”
Prior to joining AMRI, Mr. Frost served as vice president of finance for
Smith & Nephew Endoscopy, a global medical device division of S&N PLC.
Prior to Smith & Nephew, he spent 14 years in progressively responsible
positions at General Electric Company. Mr. Frost received a B.A. with
honors in International Relations/Economics from Colgate University, and
conducted graduate coursework at INSEAD.
About AMRI
Founded in 1991, Albany Molecular Research Inc. provides scientific
services, products and technologies focused on improving the quality of
life. AMRI works on drug discovery and development projects and conducts
manufacturing of active ingredients and pharmaceutical intermediates for
many of the world's leading healthcare companies. As an additional value
added service to its customers, the company is also investing in R&D in
order to expand its contract services and to identify novel early stage
drug candidates with the goal to outlicense to a strategic partner. With
locations in the U.S., Europe, and Asia, AMRI provides customers with a
wide range of services, technologies and cost models.
Forward-looking Statements
Statements in this press release that are not historical facts are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 that involve risks and uncertainties.
These statements may be identified by forward-looking words such as
"may," "could," "should," "would," "will," "intend," "expect,"
"anticipate," "believe" and "continue" or similar words. Readers should
not place undue reliance on our forward-looking statements. The
company's actual results may differ materially from such forward-looking
statements as a result of numerous factors, some of which the company
may not be able to predict and may not be within the company's control.
Factors that could cause such differences include, but are not limited
to the company's ability to attract and retain experienced scientists,
trends in pharmaceutical and biotechnology companies outsourcing of
chemical research and development, delay or denial of approvals from the
FDA, the company's ability to enforce its intellectual property and
technology rights, the risks posed by international operations to the
company, and the company's ability to effectively manage its growth as
well as those factors discussed in the company's Annual Report on Form
10-K for the year ended December 31, 2007 as filed with the Securities
and Exchange Commission on March 17, 2008 and the company's other SEC
filings. The company does not undertake any duty to and does not intend
to update any forward-looking statements contained in this press release
after the date of this press release.