QUEBEC CITY, April 16, 2013 /CNW Telbec/ - Atrium Innovations Inc. (TSX: ATB) ("Atrium" or the "Company") announced today that a new director nominee will be included in the Management Proxy Circular of the Company for his election at the next Annual General Meeting of Shareholders to be held on May 14, 2013. The new proposed nominee is Mr. Javier San Juan, President and Chief Executive Officer of L'Oreal Canada. Mr. San Juan has extensive expertise in product portfolio optimization, from production to marketing, an experience he can draw upon to support Atrium in its next phase of development. The new director will replace Mr. Yves Julien, who has decided not to present himself for re-election.
"While Atrium Innovations embarks on a new phase of its development and intends to focus increasingly on its organic growth, the continued integration of its various business units, and the optimization of its portfolio of products and of its manufacturing operations, we believe that Mr. San Juan will be an invaluable asset to the Company. This seasoned businessman with a diversified career path has indeed an impressive track record in the areas of operational efficiency, brand management and distribution channels", said Mr. Pierre Laurin, Ph.D., O.C., Chairman of the Board of Directors (the "Board") of Atrium. "In the months and years ahead, we intend to continue to diversify the expertise possessed by our Board of Directors so that it is perfectly aligned with the new realities and growth strategy of the Company", he added.
At the head of L'Oreal Canada since 2006, Mr. San Juan manages one of the ten most important business subsidiaries of the L'Oreal Group, where he took on the mandate of developing, at a rate twice as fast as the cosmetic market, the diversified brands in the portfolio of L'Oreal Canada and which are distributed through professional salons, pharmacies and retail stores. Mr. San Juan also contributes toward the excellent performance of the L'Oreal Canada manufacturing facility located in Montreal. Mr. San Juan had previously managed the Argentinean and Romanian subsidiaries of the L'Oreal Group after having held the position of Director of Finance and Operations of the Russian subsidiary from 1994 to 1998. Mr. San Juan began his international career at the head office of the pharmaceutical group Sandoz (now Novartis).
Shareholders of the Company will be asked to vote on the election of Mr. San Juan, as well as the re-election of the current directors of the Company, with the exception of Mr. Julien, at the Annual General Meeting on May 14, 2013. Additional information regarding the director nominee is contained in the Management Proxy Circular, which will be mailed to shareholders of the Company shortly.
"The Board of Directors wishes to thank Mr. Yves Julien for his meaningful contribution to the Board's discussions and work during these past years. His valuable insight was highly appreciated", concluded Mr. Laurin.
About Atrium Innovations
Atrium Innovations Inc. (TSX: ATB) is a globally recognized leader in the development, manufacturing, and commercialization of innovative, science-based natural health products which are distributed in more than 35 countries. The Company owns healthcare practitioner and specialized retail product brands that are at the forefront of science, innovation and education. Atrium has over 1,100 employees and operates seven manufacturing facilities complying with current Good Manufacturing Practices. Additional information is available at www.atrium-innovations.com.
Cautionary Note and Forward-Looking Statements
This press release contains certain forward-looking statements with respect to the Company. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Forward-looking statements are not guarantees of performance. These forward-looking statements, including financial outlooks, may involve, but are not limited to, comments with respect to the Company's business or financial objectives, its strategies or future actions, its targets, expectations for financial condition or outlook for operations and future contingent payments. Words such as "may", "will", "would", "could", "expect", believe", "plan", "anticipate", "intend", "estimate", "continue", or the negative or comparable terminology, as well as terms usually used in the future and the conditional, are intended to identify forward-looking statements. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management's perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. The Company considers theses assumptions to be reasonable based on information currently available to it, but cautions the reader that these assumptions regarding future events, many of which are beyond its control, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect the Company and its business.
For additional information with respect to these and other factors and assumptions underlying the forward-looking statements made in this press release, see the Company's quarterly and annual Management Discussion and Analysis filed with the Canadian securities commissions. The forward-looking information set forth herein reflects the Company's expectations as at the date of this press release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law.
SOURCE: ATRIUM INNOVATIONS INC.
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