Senetek PLC Appoints Two New Independent Board Members With Diverse Financial, Legal and Life Science Backgrounds
Wednesday February 12, 8:08 am ET
NAPA, Calif., Feb. 12 /PRNewswire-FirstCall/ -- Senetek PLC (Nasdaq: SNTK - News), ( www.senetekplc.com ), a healthcare technologies company focused on developing and co-marketing products applicable to the anti-aging markets in key skin care/dermatologicals and sexual dysfunction categories worldwide, announced today the election of Kevin R. McCarthy and Anthony Williams to Senetek's Board of Directors.
Mr. McCarthy is President of Scorpion Holdings, Inc., a New York-based private equity merchant bank and advisor to a select group of European investors, and is Co-Founder and Managing Member of Independence Holdings Partners, LLC, a private equity fund-of-funds also based in New York. He holds a B.S. in Accounting from Babson College and spent ten years with Arthur Young & Co. in Boston and its successor Ernst & Young in New York as an auditor and advisor on mergers and acquisitions. He left Ernst & Young as a Partner in 1993 to become Chief Financial Officer of Rosecliff, Inc., a leveraged buyout fund, before joining Scorpion Holdings in 1995. Scorpion is an advisor to the debt holders of Senetek's $7.5 million of senior secured notes, which mature in April 2004.
Mr. Williams is a Corporate Partner and member of the Executive Board of Coudert Brothers, the New York-based international law firm, and served as Chairman of its Executive Committee from 1993 through 2001. He holds a B.A. in Government and Economics from Harvard University and a Juris Doctor from New York University School of Law, where he served as Editor-in-Chief of the Journal of International Law, graduating in 1973. He is admitted to practice in New York and California and in the United States Supreme Court. He currently serves on the Boards of Directors of seven U.S. and overseas companies in the mining, apparel and investment fields as well as the Robert F. Kennedy Memorial and Center for Human Rights, and is a member of the German American Chamber of Commerce.
Frank J. Massino, Chairman and Chief Executive Officer of Senetek, commented, "The election of Kevin McCarthy and Tony Williams brings tremendous assets to our Board of Directors as well an increase in the Board's independence. Kevin has been closely involved with the Company since we refinanced our debt in 1999 and his business and financial insights have greatly helped us achieve financial stability. Tony Williams, while new to Senetek, brings to the Board unique legal and business acumen and a wealth of knowledge and international contacts. I know that the support and wise counsel of these gentlemen will be invaluable as we refine our strategy for continued growth and profitability."
Mr. McCarthy commented, "I very much look forward to even greater involvement with Senetek and its Board and management. My joining the Board attests to the high level of confidence in Senetek's business model and financing flexibility that all of us at Scorpion hold." Mr. Williams added, "Over the course of two days of directors' meetings last week I began to realize the remarkable potential for growth this company has. I am very excited to be involved and look forward to contributing in any way that I can."
Visit Senetek PLC's web site: senetekplc.com .
Senetek PLC Investor Relations Contact:
1-707-226-3900 ext. 102
E-Mail: Pknopick@eandecommunications.com
Safe Harbor Statement:
This news release may contain statements that may be considered "forward-looking statements" under the federal securities laws, including statements concerning the Company's financial stability, its expectations of continued growth and profitability and its intent to expand its overseas business. Forward-looking statements by their nature involve substantial uncertainty and there can be no assurance that actual results or events will not differ materially from those in the forward-looking statements as a result of various factors, including the risks and uncertainties described in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2001 and Quarterly Reports of Form 10-Q for the subsequent calendar quarters of 2002, filed with the Securities and Exchange Commission. In addition, while the Company has attempted to identify in those filings the principal factors that it believes could result in such material differences, there can be no assurance that it has identified all of such factors or all of the ways in which such factors may affect future results or events.
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Source: Senetek PLC |
