PMR Corp. Accepts Resignation of Chief Executive Officer Mark P. Clein.Business Editors/Health & Medical Writers BIOWIRE2K SAN DIEGO--(BW HealthWire)--May 16, 2002 Chairman of the Board Allen Al·len , Edgar 1892-1943. American anatomist who is noted for his studies of hormones and for the discovery (1923) of estrogen. Tepper Temporarily Assumes 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. Position Through Closing of The PSI Transaction; Clein to Continue as Board Member and Will Consult Through Closing of the Transaction PMR PMR 1 Percutaneous myocardial revascularization, see there 2 Perinatal mortality rate 3 Polymyalgia rheumatica 4 Proportionate mortality ratio, see there Corp. (Nasdaq:PMRP PMRP Precious Metals Recovery Program PMRP Prone Maximal Restraint Position ) today announced that it has accepted the resignation of Mark P. Clein as its chief executive officer. Clein will continue in a consulting arrangement through the closing of the previously announced merger agreement with Psychiatric psy·chi·at·ric adj. Of or relating to psychiatry. psychiatric adjective Pertaining to psychiatry, mental disorders Solutions Inc. ("PSI"). Chairman of the Board Allen Tepper will temporarily assume the CEO position through closing. Tepper previously served as CEO from the Company's inception through June 1, 1999. "The signing of the definitive merger agreement with PSI brings us close to the successful culmination of the strategic alternatives process we undertook approximately one year ago, and marks a logical point for me to transition out of my current role," said Mark Clein, CEO of PMR Corp. "Over the next several months, I will work diligently dil·i·gent adj. Marked by persevering, painstaking effort. See Synonyms at busy. [Middle English, from Old French, from Latin d to guide the transaction through the SEC process and will work with Joey Joey after Joseph Grimaldi, famous 19th-century clown. [Am. Hist.: Espy, 45] See : Clowns Jacobs of PSI to establish a smooth integration of the PMR operations under PSI's management." "Mark has made an extremely valuable contribution to the stockholders and employees of PMR," said Allen Tepper, chairman of PMR Corp. "We all extend Mark our best wishes in his new venture, and are pleased that we will be able to retain him as a member of the Board of Directors following the closing of the transaction." This press release contains forward looking statements that involve risks and uncertainties, including the risk that the merger with Psychiatric Solutions, Inc. will not be completed; and the risks and uncertainties set forth in the company's periodic reports and other filings with the Securities and Exchange Commission. Forward looking statements reflect the company's current views with respect to future events. Actual results may vary materially and adversely from those anticipated, believed, estimated, or otherwise indicated. |
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