Media & Multimedia
Sequenom Appoints New Board Member and Financial Executive
Du : 01/11/2005
Veteran financial executive
Lawrence R. Moreau has been elected to the Board of Directors of Sequenom,
Inc. (Nasdaq: SQNM), and will be Chairman of the Audit Committee, it was
announced today by Harry Hixson, Jr., Ph.D., Chairman of the Board of
Mr. Moreau, 62 and currently retired, brings 35 years of experience in
public accounting and finance to Sequenom. Previously, Mr. Moreau was the
founder of Moreau and Company, Inc. a financial advisory firm and Moreau
Capital Corporation, a National Association of Securities Dealers (NASD)
registered investment-banking firm, which assisted early and middle-stage
growth companies to raise capital from both private and public financing
transactions. Prior to founding his own firm, Mr. Moreau was a Board Member
and the licensed Financial Principal of a New York Stock Exchange (NYSE)
investment-banking firm. Mr. Moreau also served as Vice President/Special
Assistant Finance to the President of Pacific Enterprises (now Sempra Energy),
a multi-billion dollar diversified holding company. He began his career with
Touche Ross & Co. (now Deloitte & Touche) where he spent 11 years with the
firm's auditing division.
From 2003 to 2005, Mr. Moreau served on the Board of Directors of InterMix
Media, a leading Internet content provider. As Chairman of their Audit
Committee and a member of their Corporate Governance and Nominating Committee,
Moreau played a major role in the Company's successful financial and corporate
governance restructuring and its recent sale to News Corporation. Mr. Moreau
also serves on the Board of Chatsworth Products, Inc. a private company in the
computer hardware industry.
He holds a Bachelor of Arts in Accounting and Master's degree in
Accounting Science from the University of Illinois. His credentials include:
licensed as both a Financial Principal and an Operations Principal with the
NASD; an Associate Member of the NYSE; and member of the Securities and
Exchange Commission (SEC) practice section of the American Institute of
Certified Public Accountants. He is a member of the National Association of
Corporate Directors and is a graduate of UCLA's Corporate Director
Certification Program. He currently serves on the planning committee of the
SEC's Small Business Forum.
Mr. Sharp has served as Sequenom's Vice President, Finance since November
2004. Before joining Sequenom, Mr. Sharp was Director of Accounting at
Diversa Corporation, a publicly-traded biotech company, from August 2000 to
November 2004, where he was responsible for managing the overall accounting
function, including internal controls and corporate governance. During that
period, revenues grew from $24 million to almost $60 million and headcount
increased from 200 to over 300. From January 1994 to August 2000, Mr. Sharp
was a Senior Audit Manager while at the public accounting firm of
PricewaterhouseCoopers. Mr. Sharp received a Bachelor of Science degree in
Accounting from San Diego State University and is a Certified Public
Accountant. Mr. Sharp is also a member of the Association of Bioscience
Financial Officers.
"Larry brings an exceptional background in financial planning as well as
private and public financing to Sequenom's board," said Dr. Hixson. "As the
Company progresses on its refined business strategy, Larry's leadership and
oversight, together with John's financial management expertise will be most
beneficial in Sequenom realizing its goals."
About Sequenom
Sequenom is committed to providing the best genetic analysis products that
translate genomic science into superior solutions for biomedical research,
molecular medicine and agricultural applications. The Company's proprietary
MassARRAY(R) system is a high-performance DNA analysis platform that
efficiently and precisely measures the amount of genetic target material and
variations therein. The system is able to deliver reliable and specific data
from complex biological samples and from genetic target material that is only
available in trace amounts.
Sequenom(R) and MassARRAY(R) are trademarks of Sequenom, Inc.
Except for the historical information contained herein, the matters set
forth in this press release, including statements related to Sequenom's
business strategy and the impact members of management and the board of
directors may have on Sequenom's business, financial condition and prospects,
are forward-looking statements within the meaning of the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and uncertainties that may
cause actual results to differ materially, including the risks and
uncertainties associated with Sequenom's technologies, the development and
commercialization of any new service, technology, product or application, and
Sequenom's ability to execute its business strategy, and other risks detailed
from time to time in Sequenom's SEC filings, including Sequenom's Annual
Report on Form 10-K for the year ended December 31, 2004, and its most
recently filed quarterly report on Form 10-Q. These forward-looking
statements are based on current information that is likely to change and speak
only as of the date hereof.
Lawrence R. Moreau has been elected to the Board of Directors of Sequenom,
Inc. (Nasdaq: SQNM), and will be Chairman of the Audit Committee, it was
announced today by Harry Hixson, Jr., Ph.D., Chairman of the Board of
Mr. Moreau, 62 and currently retired, brings 35 years of experience in
public accounting and finance to Sequenom. Previously, Mr. Moreau was the
founder of Moreau and Company, Inc. a financial advisory firm and Moreau
Capital Corporation, a National Association of Securities Dealers (NASD)
registered investment-banking firm, which assisted early and middle-stage
growth companies to raise capital from both private and public financing
transactions. Prior to founding his own firm, Mr. Moreau was a Board Member
and the licensed Financial Principal of a New York Stock Exchange (NYSE)
investment-banking firm. Mr. Moreau also served as Vice President/Special
Assistant Finance to the President of Pacific Enterprises (now Sempra Energy),
a multi-billion dollar diversified holding company. He began his career with
Touche Ross & Co. (now Deloitte & Touche) where he spent 11 years with the
firm's auditing division.
From 2003 to 2005, Mr. Moreau served on the Board of Directors of InterMix
Media, a leading Internet content provider. As Chairman of their Audit
Committee and a member of their Corporate Governance and Nominating Committee,
Moreau played a major role in the Company's successful financial and corporate
governance restructuring and its recent sale to News Corporation. Mr. Moreau
also serves on the Board of Chatsworth Products, Inc. a private company in the
computer hardware industry.
He holds a Bachelor of Arts in Accounting and Master's degree in
Accounting Science from the University of Illinois. His credentials include:
licensed as both a Financial Principal and an Operations Principal with the
NASD; an Associate Member of the NYSE; and member of the Securities and
Exchange Commission (SEC) practice section of the American Institute of
Certified Public Accountants. He is a member of the National Association of
Corporate Directors and is a graduate of UCLA's Corporate Director
Certification Program. He currently serves on the planning committee of the
SEC's Small Business Forum.
Mr. Sharp has served as Sequenom's Vice President, Finance since November
2004. Before joining Sequenom, Mr. Sharp was Director of Accounting at
Diversa Corporation, a publicly-traded biotech company, from August 2000 to
November 2004, where he was responsible for managing the overall accounting
function, including internal controls and corporate governance. During that
period, revenues grew from $24 million to almost $60 million and headcount
increased from 200 to over 300. From January 1994 to August 2000, Mr. Sharp
was a Senior Audit Manager while at the public accounting firm of
PricewaterhouseCoopers. Mr. Sharp received a Bachelor of Science degree in
Accounting from San Diego State University and is a Certified Public
Accountant. Mr. Sharp is also a member of the Association of Bioscience
Financial Officers.
"Larry brings an exceptional background in financial planning as well as
private and public financing to Sequenom's board," said Dr. Hixson. "As the
Company progresses on its refined business strategy, Larry's leadership and
oversight, together with John's financial management expertise will be most
beneficial in Sequenom realizing its goals."
About Sequenom
Sequenom is committed to providing the best genetic analysis products that
translate genomic science into superior solutions for biomedical research,
molecular medicine and agricultural applications. The Company's proprietary
MassARRAY(R) system is a high-performance DNA analysis platform that
efficiently and precisely measures the amount of genetic target material and
variations therein. The system is able to deliver reliable and specific data
from complex biological samples and from genetic target material that is only
available in trace amounts.
Sequenom(R) and MassARRAY(R) are trademarks of Sequenom, Inc.
Except for the historical information contained herein, the matters set
forth in this press release, including statements related to Sequenom's
business strategy and the impact members of management and the board of
directors may have on Sequenom's business, financial condition and prospects,
are forward-looking statements within the meaning of the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and uncertainties that may
cause actual results to differ materially, including the risks and
uncertainties associated with Sequenom's technologies, the development and
commercialization of any new service, technology, product or application, and
Sequenom's ability to execute its business strategy, and other risks detailed
from time to time in Sequenom's SEC filings, including Sequenom's Annual
Report on Form 10-K for the year ended December 31, 2004, and its most
recently filed quarterly report on Form 10-Q. These forward-looking
statements are based on current information that is likely to change and speak
only as of the date hereof.