Biomerica Announces Retirement of Chief Financial Officer (CFO), hiring of new CFO and appointment of new member to the Board of Directors

IRVINE, Calif., Aug. 31, 2020 (GLOBE NEWSWIRE) -- Biomerica Inc. (NASDAQ: BMRA) today announced today the retirement of Janet Moore, the Company’s Chief Financial Officer. After many years of dedicated service, Ms. Moore has decided to retire and pursue personal interests. Ms. Moore will remain an employee of the Company during a transition period to ensure a smooth transition. Ms. Moore, who also serves as a member of the Board of Directors (the “Board”) and Corporate Secretary, will continue to serve as a member of the Board and as Corporate Secretary until the Company’s Annual Meeting on December 10, 2020. At that time, Ms. Moore will also be leaving the Board.

Biomerica also announced today the appointment of Steve Sloan as the Company’s new CFO, effective September 3, 2020. Mr. Sloan’s background and experience includes thirteen years at General Electric with roles in internal audit, corporate finance and manufacturing finance. Most recently, Mr. Sloan spent ten years with medical device maker, Medtronic. At Medtronic, Mr. Sloan worked in four divisions, most recently serving as a divisional finance director.  

Biomerica further announced that the Board has elected Cathy Coste as a new independent member of the Board. Cathy will join the Board effective September 3, 2020. Ms. Coste has also been elected by the Board to chair the Board’s Audit Committee, and to be a member of the Nominating and Corporate Governance Committee. Cathy Coste is a Senior Partner at Deloitte and Touche, LLP, and is retiring in September 2020. She has spent thirty-two years in both corporate and professional services positions leading global finance, internal audit and operations teams. For the past six years, Cathy has served as Deloitte’s Life Sciences Industry Executive Leader. Ms. Coste is known for her expertise in governance, audit, risk and controls, and compliance and has served over 50 companies in the life science, technology, and consumer industries. 

“I personally want to thank Janet for being a trusted advisor and leader throughout her career at the Company in serving as CFO, Board Member and Secretary. At the same time, I’m excited to have Steve Sloan join our executive management team as CFO. Steve brings great knowledge, experience and energy to the position and I am confident he will play a key role in helping us achieve our goals of building Biomerica. Finally, on behalf of the Board, I welcome Cathy Coste and I am looking forward to working with her, especially given her experience in the life sciences industry.”