GeneNews Management Update
TORONTO, CANADA (January 10, 2007): GeneNews Limited (TSX:GEN), formerly ChondroGene Limited, announced today that Colin T. West, CA, has been appointed Chief Financial Officer for an interim period, replacing Colin Martin, who left the Company effective December 31, 2006. The Company has commenced an executive search and expects to engage a permanent CFO within the next three to six months.
"I want to thank Mr. Martin for his contribution and wish him well in his future endeavours," stated Dr. K. Wayne Marshall, President and CEO of GeneNews. "Mr. West's extensive financial and management experience will be important for us in this interim period as we work to build more robust accounting and management systems to support our commercialization efforts."
Mr. West's most recent executive role was CEO/President of Richtree Market Restaurants Inc., having initially joined Richtree as CFO. He has also been a member of the board of directors of a number of public and private companies with prior experience as a senior partner in a major accounting firm. Mr. West is presently a member of the Institute of Chartered Accountants of Ontario and is a principal with Atticus Interim Management, a consulting firm which specializes in interim placements of senior executives.
Forward-Looking Statements
This press release contains forward-looking statements, which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein. Investors should consult the Company's ongoing quarterly filings and annual reports for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements.
