Toronto Stock Exchange Symbol: LRI
LAVAL, QC, Feb. 9 /CNW Telbec/ - LAB Research Inc. ("LRI", "LAB Research"
or the "Company") (TSX: LRI), a Canadian-based global non-clinical contract
research organization, today announced the nomination of Mr. Carl A. Spalding
as Chairman of its Board of Directors in replacement of Mr. Karsten Skydsgaard
who previously communicated a wish to step down of the Board to focus on his
other professional obligations.
"On behalf of the Board of Directors, I would like to thank Karsten for
his dedication and contribution to LAB Research since our 2006 Initial Public
Offering ("IPO"). His expertise, and continuous support toward the Company
have played a key role in LRI's development and success," said Mr. Luc
Mainville, Chief Executive Officer and President of LAB Research.
Mr. Spalding brings to LRI extensive operational experience and contacts
in the global pharmaceutical and contract research organization industries.
Mr. Spalding has held numerous senior executive positions such as President
and Chief Operating Officer of PAREXEL International Corporation, Executive
Vice President and Group President, Healthcare Products Services at Cardinal
Health and Vice President and General Manager, Ross Products for Abbott
"I am impressed with the timely execution and completion of the growth
and development strategy put forward by the Senior Management team at LRI
since its 2006 IPO. I am also confident that the recently adopted measures to
insure a swift improvement of the Company's financial performance will prove
to be successful and look forward to actively participating in the continued
success of LAB Research," commented Mr. Spalding.
"We are very fortunate to have someone of Carl's calibre and with such
industry experience and relationships to assume the Chairmanship of LAB
Research. Now that we have completed our expansion program and are positioned
to benefit from the significant revenue capacity added, we will greatly
benefit from Carl's strong global operational background and business insight
as we strive towards improving our profitability and overall financial
performance," added Mr. Luc Mainville.
About LAB Research Inc.:
LAB Research is a Canadian global non-clinical contract research
organization that provides contract research services to the pharmaceutical,
biotechnology, agro-chemical, petro-chemical and industrial markets. LAB
Research supports the development of its customers' products from three
state-of-the-art facilities located in Canada, Denmark and Hungary.
LAB Research's shares trade on The Toronto Stock Exchange ("TSX") under
the symbol "LRI", with 18.1 million shares outstanding.
This news release contains certain forward-looking statements that
reflect the current views and/or expectations of LAB Research Inc. with
respect to its performance, business and future events. Such statements are
subject to a number of risks, uncertainties and assumptions. Actual results
and events may vary significantly.
For further information:
For further information: visit LAB Research's website at
www.labresearch.com, or contact: Luc Mainville, Chief Executive Officer, (450)
973-2240 (ext. 1206), firstname.lastname@example.org; Frédéric Dumais, Partner,
Jasmin-Dumais Financial Communications, (514) 862-1251, email@example.com