Rosetta Genomics Announces Changes to Board of Directors
News Apr 04, 2011
Rosetta Genomics, Ltd. has announced that Kenneth A. Berlin, President and Chief Executive Officer of Rosetta Genomics, has stepped down from the Company's Board of Directors. Mr. Berlin's departure from the Board is in accordance with the Company's adoption of good corporate governance practices and the division of responsibilities between the Board of Directors and the President and CEO, in the spirit of the recommendations set forth in recently updated Israeli corporate law.
To fill the vacancy created by Mr. Berlin's departure, and in accordance with the Company's bylaws, the Board of Directors has elected current Board Observer, Brian A. Markison, former Chairman and Chief Executive Officer of King Pharmaceuticals, as a new Board member.
Mr. Berlin's resignation from the Board of Directors will have no impact on his role as President and CEO of the Company, and he will continue to have an active reporting role to the Board.
Mr. Markison's role as director will be in effect until the next Annual Meeting of Shareholders which will take place before year-end 2011. At such meeting, the Board will recommend to the shareholders the election of Mr. Markison to the Board.
Mr. Markison joined King Pharmaceuticals in 2004 and led the Company through its recently completed $3.6 billion acquisition by Pfizer, Inc. Previously Mr. Markison was with Bristol-Myers Squibb from 1982 to 2004, where he served in various commercial and executive positions rising from an oncology sales representative to become President, BMS Oncology/Virology and Oncology Therapeutics Network.
Mr. Markison serves on the Board of Directors of Immunomedics, Inc., where he is Lead Director and Compensation Committee Chair. He also serves on the Board of Directors for the Komen Foundation and on the Board of Trustees for the Pennington School. Mr. Markison received a B.S. from Iona College in New Rochelle, N.Y.
"We welcome Brian as our new Board member and look forward to utilizing his extensive industry experience, particularly in oncology. Brian's knowledge of the pharmaceutical markets and his many relationships will be valuable assets as we build Rosetta into a leading molecular diagnostics company," commented Mr. Berlin.