Chantal announces strategic moves; Company to move corporate headquarters to Florida; Announces new chief financial officer.LOS ANGELES--(BUSINESS WIRE)--July 29, 1996--Chantal Pharmaceutical Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CHTL) today announced the first in a series of steps the company is taking to further transition itself from a research and development company to a global skin care marketing entity. The first is to move its corporate headquarters to Florida to be nearer to the company's European operations and centers of population on the East Coast. As a second step, the company announced that it has identified a new chief financial officer, to replace Gary D. Burnison, who left the company for personal reasons. The new CFO See Chief Financial Officer. is expected to join the company after fulfilling certain short-term obligations to the current employer, a public company. Chantal Burnison, chairman and chief executive officer of Chantal Pharmaceutical Corp., in making the announcement, said: "We are committed to building an infrastructure at this company to propel our rapid growth and to optimally position the company for its entry into the global marketplace. In our recent four-month search for a Chief Financial Officer, we interviewed a number of highly-qualified individuals and our new CFO particularly impressed us." Burnison also stated: "The board of directors and management of Chantal Pharmaceutical Corporation are firmly committed to transform the business into a more aggressive worldwide marketing entity. The recent addition of two new directors, the hiring of new management, the move of the corporate headquarters and other future steps to be announced To be announced (TBA) A contract for the purchase or sale of an MBS to be delivered at an agreed-upon future date but does not include a specified pool number and number of pools or precise amount to be delivered. , are all a part of a carefully-conceived strategic plan. We continue to expand distribution of the Chantal Ethocyn Skin Care Products in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , where new market sectors are being aggressively launched in both the U.S. and Canada, as well as the imminent launch of the products in Europe and the Pacific Rim. We plan to have on-shelf distribution of Chantal Skin Care Products in England, France, Italy and Germany by the end of the company's fiscal third quarter (March 31, 1997)." Chantal Pharmaceutical Corp. currently has executive offices, telemarketing and warehouse facilities in Los Angeles, with a laboratory in Kaiserslautern, Germany. In addition to marketing the Chantal Ethocyn Skin Care line, the company is engaged in the research and development of products for androgen androgen (ăn`drəjən): see testosterone. androgen Any of a group of hormones that mainly influence the development of the male reproductive system. mediated disorders such as acne, hirsutism Hirsutism Definition Excessive growth of facial or body hair in women is called hirsutism. Description Hirsutism is not a disease. The condition usually develops during puberty and becomes more pronounced as the years go by. , male pattern baldness male pattern baldness n. A progressive, diffuse loss of scalp hair in men that begins in the twenties or early thirties, depends on the presence of the androgenic hormone testosterone, and is caused by a combination of genetic and hormonal factors. , benign prostate hypertrophy hypertrophy (hīpûr`trəfē), enlargement of a tissue or organ of the body resulting from an increase in the size of its cells. Such growth accompanies an increase in the functioning of the tissue. and the treatment of certain cancers. CONTACT: Martin E. Janis & Co. Inc., Chicago Bev Jedynak, 312/943-1100 |
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