VAUDREUIL-DORION, QC, Oct. 11 /CNW Telbec/ - The Board of Directors of
Immunotec Inc. is very pleased to announce the appointment of Mr. James A.
Northrop as President and Chief Executive Officer, effective November 5, 2007.
A member of the Board of Directors of Immunotec Inc., Mr. Northrop is a
seasoned chief executive with a record of success in rapid growth situations,
Mr. Northrop has impressive experience in the direct selling, consumer
packaged goods, cosmetics, fashion and retail industries. He is well-known for
his ability to see the essence of a business and position it for future
growth. Mr. Northrop has acted as Chairman, Chief Executive Officer and
President for a number of companies, including 11 years as the Chairman/CEO of
Princess House, a direct sales company where his leadership significantly
impacted profitability through development of the Hispanic market, expansion
of the product line and establishment of a strong trust relationship with its
more than 15,000 independent field representatives.
Recognizing the impressive foundation laid by his predecessor,
Mr. Northrop will implement his proven strategy of building on the existing
culture of an organization, while adding the functional expertise needed to
fuel sales and promote network growth. A former Chairman of the U.S. Direct
Selling Association Board of Directors, Mr. Northrop has extensive connections
within the direct selling industry and a deep-seated understanding and
appreciation for this powerful business model.
Immunotec's Board of Directors has approved the granting of 700,000 stock
options to Mr. Northrop under Immunotec's stock option plan, at a price of
$0.66 per share. The closing price of Immunotec shares was $0.66 per share on
October 10, 2007.
Immunotec operates out of a 37,000 square foot facility located in
Vaudreuil-Dorion, Quebec, Canada as well as a distribution centre located in
Swanton, Vermont, USA. Immunotec is engaged primarily in the development and
marketing of dietary supplements, food, vitamins, personal care products and
natural health products, many of which are manufactured on its behalf by third
parties. Immunotec's products are distributed and sold in Canada and the
United States through a network marketing system and in other countries under
exclusive distributorship agreements.
For further information:
For further information: Media contact: Richard Patte, Executive
Vice-President, (450) 510-4445, firstname.lastname@example.org