Pharmaceutical Industry Financial Executive Becomes 4th Outside
Director on AgriBioTech's Board
TUESDAY, NOVEMBER 23 1999 4:20 PM EST
HENDERSON, Nev., Nov 23, 1999 (BUSINESS WIRE) -- Harrison M. (Mac)
Bains, Jr., vice president and treasurer of Bristol-Myers Squibb Company, has
joined the board of directors of AgriBioTech, Inc. (Nasdaq:ABTX), bringing the
board to seven directors, four of whom are from outside the company.
During the March 1999 change in senior management, the Company said it
intended to create a new, nine-person board, a majority of whom would be
outside directors. ABT is continuing its search for additional outside directors to
achieve this goal.
Bains, 56, has an extensive background in senior corporate financial
management positions. Early in his tenure at Bristol-Myers, the company
merged with Squibb Corporation to form one of the world's largest
pharmaceutical companies. After combining the two companies' Treasury
functions, he has been responsible for their financing activities, worldwide cash
management, investment management, real estate, insurance, internal audit
and investor relations.
Prior to joining Bristol-Myers in 1988, he was Senior Vice President of Chase
Manhattan Bank's Primary Industry Group, which included chemicals, metals
and mining, agri-business, and forest products. Prior to that, Bains was Senior
Vice President & Treasurer at RJR Nabisco (and predecessor companies).
"In reconstructing our board of directors to help complete AgriBioTech's
turnaround, Mac Bains becomes our fourth outside director to combine
outstanding corporate and financial services experience with the company's
highly committed internal management team," said Richard Budd, chairman
and chief executive officer.
A resident of Summit, New Jersey, Bains is a Fellow of the Foreign Policy
Association and a member of the New York Advisory Board of the Factory
Mutual System. He is also a past Board Member of the National Association of
Corporate Treasurers, a past National Committee Chairman of The Financial
Executive Institute's International Liaison and Policy Committee, and a past
Chairman of the Pharmaceutical Manufacturers' Association Treasurers. He
also is a trustee if the University of the Redlands in Redlands, California, where
he earned an undergraduate degree before earning an MBA from the University
of California at Berkeley.
About AgriBioTech AgriBioTech, Inc. is a vertically integrated, full-service seed
company specializing in the forage and turfgrass sector, complete with
research and development of proprietary seed varieties, seed processing plants,
and a national and international distribution and sales network. ABT's vision is
to lead the turf and forage seed industry in discovering its value potential.
Copyright (C) 1999 Business Wire. All rights reserved.
Distributed via COMTEX.
-0-
CONTACT: AgriBioTech, Inc.
Doug Fisher, 702/566-2440
www.agribiotech.com
or
Kalt Rosen Chase & Co. LLC
Howard Kalt, 415/397-2686
WEB PAGE: businesswire.com
GEOGRAPHY: NEVADA NEW JERSEY
INDUSTRY CODE: BIOTECHNOLOGY
ENVIRONMENT
PHARMACEUTICAL
MANAGEMENT
CHANGES
|
