ENZO BIOCHEM’S BOARD OF DIRECTORS FORMS NEW CORPORATE DEVELOPMENT AND PLANNING & SUCCESSION COMMITTEES
NEW YORK, NY, Jan. 20, 2021 (GLOBE NEWSWIRE) -- Enzo Biochem, Inc. (NYSE:ENZ) (“Enzo” or the “Company”), a leading biosciences and diagnostics company, today announced that the Enzo Board of Directors has formed two new committees to support strategy related to targeting and execution of new business opportunities and development and support for new members of the leadership team within the Company. The establishment of the new board committees follows Enzo’s recent announcement of quarterly organic growth of 47% on a year-over-year basis, EBITDA of approximately $1 million, and anticipation of setting the company on track to achieve full year profitability from operations.
The newly formed Corporate Development Committee is led by newly elected board member Ian Walters, MD & MBA, and independent board member Dov Perlysky, MBA. They will evaluate and provide guidance to the Company on acquisition, divestiture, and partnership opportunities within the life sciences industry. Both directors will work to support Enzo’s internal M&A team in identifying and assessing business development opportunities.
Enzo’s Planning & Succession Committee consists of board members Mary Tagliaferri, MD, Executive Clinical Fellow and Senior Vice President of Nektar Therapeutics, and Rebecca Fischer, MPA, Chief Financial Officer of NYC Health + Hospitals / Bellevue. The committee will provide strategic guidance in the identification and development of senior professionals positioned to assume leadership roles at Enzo Biochem in the future as the company plans for continued progress in its ongoing strategic plan and efforts in business expansion. The Committee will lead strategy in senior level employee recruitment, retention, and training and will significantly expand the Company’s emphasis on cross-training of management and supervisors, supporting the highest levels of experienced operational and leadership coverage within the organization.
“As we continue to make important progress in our strategic business objectives at Enzo, we will bring new talent and resources to the management team aligning with the recent talent we added to the board of directors. Experienced guidance in our business opportunities and in attracting and preparing a new generation of leadership are critical priorities to help manage the growth of our company,” said Elazar Rabbani, Ph.D., Enzo CEO. “We are excited to utilize the expertise of our outstanding independent directors to assist in moving these new initiatives forward.”