MADISON, Wis., Jan. 31 /PRNewswire-FirstCall/ -- Third Wave Technologies Inc. today announced changes on the company's management team associated with the succession last month of Kevin T. Conroy to president and chief executive.
Maneesh K. Arora will begin transitioning to the position of chief financial officer immediately. The transition will be completed by mid-March. James J. Herrmann will remain with the company as its principal financial officer through the filing of its annual report to affect a smooth transition. Gregory K. Hamilton, who has served as the company's executive director of planning and administration, has been appointed vice president of finance.
Mr. Arora, 37, joined Third Wave in January 2003 with a strong background in finance, business strategy and marketing. He served as the company's director of marketing until his promotion to vice president of marketing and strategy in October 2003. He was appointed senior vice president of commercial operations in March 2004. Prior to joining Third Wave, Mr. Arora was director of corporate strategy and new ventures at Ondeo Nalco, a $3-billion subsidiary of Suez, the global industrial services provider. Mr. Arora spent nine years at Kraft Foods in a range of finance, sales and marketing roles before joining Nalco. He earned a master's of business administration degree from Northwestern's Kellogg School of Management and bachelor's degree in economics from the University of Chicago.
Mr. Hamilton, 35, joined the company from Leo Burnett USA, where he served first as controller of its U.S. subsidiaries and then successively as vice president and chief financial officer of three of its business units. Prior to joining Leo Burnett USA, Mr. Hamilton was an auditor and consultant at the Arthur Andersen and Accenture firms. He earned a master's of business administration degree from the University of Chicago's Graduate School of Business and a bachelor's degree in finance from Purdue University.
John A. Bellano, 37, has been appointed vice president of sales. He succeeds Jake Orville, who will transition to a new role in the company. Mr. Bellano joined Third Wave in February as regional vice president of sales from Roche Diagnostics. Mr. Bellano joined Roche in early 2000, where he became one of four regional business managers for its molecular business in the United States. As a regional business manager, he hired and developed a sales team of 11 representatives with revenues of more than $50 million. His sales organization regularly exceeded its goals. Mr. Bellano also has managed multi- million dollar territories for Sanofi Diagnostics Pasteur, where he was responsible for infectious disease products in the northeastern United States, and for Abbott Laboratories.
"I am pleased that Maneesh, Greg and John have agreed to take on new responsibilities at Third Wave," Mr. Conroy said. "Each of them brings a strategic perspective and a track record of executional excellence to their respective roles that are critical to Third Wave's continued growth.
"I want to thank Jim for his important contributions to Third Wave's development as a leader in molecular diagnostics during his tenure with the company," Mr. Conroy said.
About Third Wave Technologies
Third Wave is a leader in the development and marketing of molecular diagnostics for a variety of DNA and RNA analysis applications, providing physicians and researchers with superior molecular solutions. The company offers a number of clinical products based on its Invader(R) chemistry for testing related to multiple disease areas. For more information about Third Wave and its products, please visit the company's website at http://www.twt.com/ .
All statements in this news release that are not historical are forward- looking statements within the meaning of the Securities Exchange Act of 1934 as amended. Such forward-looking statements are subject to factors that could cause actual results to differ materially for Third Wave from those projected. Those factors include risks and uncertainties relating to technological approaches of Third Wave and its competitors, product development, manufacturing, market acceptance, cost and pricing of Third Wave products, dependence on collaborative partners and commercial customers, successful performance under collaborative and commercial agreements, competition, the strength of the Third Wave intellectual property, the intellectual property of others and other risk factors identified in the documents Third Wave has filed, or will file, with the Securities and Exchange Commission. Copies of the Third Wave filings with the SEC may be obtained from the SEC Internet site at http://www.sec.gov/ . Third Wave expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward- looking statements contained herein to reflect any change in Third Wave's expectations with regard thereto or any change in events, conditions, or circumstances on which any such statements are based. Third Wave Technologies, Invader and the Third Wave logo are trademarks of Third Wave Technologies, Inc.
First Call Analyst:
FCMN Contact: rhise@twt.com
