Akorn, Inc. Appoints Taylor Division President, Floyd Benjamin, President And CEO.BUFFALO GROVE, Ill.--(BUSINESS WIRE)--Nov. 5, 1998-- Interim CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. John Kapoor to Continue as Chairman Akorn, Inc. (Nasdaq:AKRN) announced today that Floyd Benjamin has been appointed President and Chief Executive Officer of the Corporation, replacing John N. Kapoor, who had been serving as interim Chief Executive Officer, and who will continue in his role as Chairman of the Board of Directors. Mr. Kapoor stated, "Akorn's growth and development deserves the full-time attention of its Chief Executive. I am confident that Floyd will guide the Company to unprecedented successes." Floyd Benjamin, 55, joined Akorn in 1996 with the acquisition of Pasadena Research Laboratories, Inc. (PRL PRL - Proof Refinement Logic. Versions: micro-PRL, lambda-PRL, nu-PRL. ["PRL: Proof Refinement Logic Programmer's Manual", CS Dept, Cornell, 1983]. ), of which he was a principal. After the acquisition by Akorn, PRL was reorganized as Taylor Pharmaceutical and Mr. Benjamin was appointed President. Prior to his time at PRL, Mr. Benjamin served as president and chief executive officer of Neocrin, Inc. and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Lyphomed, Inc., among other positions. Mr. Benjamin has over thirty years of experience in the pharmaceutical industry, with particular expertise in regulatory matters. He graduated with a B.S. in Biology from North Carolina Central University History NCCU was chartered in 1909 and opened in 1910 as the National Religious Training School and Chautauqua under the leadership of President James E. Shepard. in 1965, and went on to earn a M.S. in Microbiology there in 1966. Mr. Benjamin stated, "I welcome the challenge Akron presents to me and look forward to working with the Company's management. We will continue the growth strategy initiated by Dr. Kapoor and will focus on improving efficiencies between the operating divisions and corporate operations." Mr. Benjamin's position at Taylor Pharmaceutical will not be filled while the Company examines the overall management structure in order to achieve maximum operation efficiencies. Akorn, Inc. is a specialty pharmaceutical company that develops, manufactures and markets ophthalmic and injectable sterile pharmaceutical products in the United States. The Company sells more than 90 diagnostic and therapeutic pharmaceutical products focused primarily on ophthalmology, anesthesia, antidotes and rheumatology rheumatology /rheu·ma·tol·o·gy/ (-tol´ah-je) the branch of medicine dealing with rheumatic disorders, their causes, pathology, diagnosis, treatment, etc. rheu·ma·tol·o·gy n. . This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Actual results may differ materially from anticipated results as a result of certain risks and uncertainties, including but not limited to the effects of federal, state and other governmental regulation of the Company's business; the company's success in acquiring, developing, manufacturing and marketing new products; the effects of competition from generic pharmaceuticals and other pharmaceutical companies; and other risks and uncertainties identified in the Company's Securities and Exchange Commission Filings. This release is available on the KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Worldwide Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Website at www.kcsa.com. |
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