To: Mr. Miller who wrote (985 ) 11/20/1997 9:03:00 AM From: GREGG M. AKIN Respond to of 8359
ABTX continues to assemble a top flight management team. Lots of experience in GENETICS with these guys. AgriBioTech, Inc. Appoints President/COO and Vice President Research LAS VEGAS--(BUSINESS WIRE)--Nov. 20, 1997--Dr. Johnny R. Thomas, CEO of AgriBioTech, Inc. (NASDAQ National Market:ABTX - news) announced today the appointment and filling of two key management positions at the company. Effective January 1, 1998, Mr. Kent Schulze will join AgriBioTech as President and Chief Operating Officer (COO) and Dr. Thomas B. Rice will join the company as Vice President, Director of Research. Mr. Schulze will retain his seat on the Board of Directors, and Dr. Thomas will remain Chief Executive Officer and Chairman of the Board. According to Dr. Thomas, the addition of these two key executives is one of AgriBioTech's most significant achievements and marks a critical step in the fulfillment of the Company's mission to become the premier forage and turfgrass seed company in the world. Both Mr. Schulze and Dr. Rice bring extensive and proven seed company management experience to their new positions. The addition of these two leaders will allow Dr. Thomas to continue and increase his efforts in the critical strategic areas of capital structure and formation, investor and shareholder relations, mergers, acquisitions and alliances. In making the announcement, Dr. Thomas said that he is pleased and confident the two executive will provide the needed operational leadership to move AgriBioTech forward in its integration efforts and growth plans. Mr. Kent Schulze joins the Company with over two decades of responsible management positions in the seed industry; he has extensive experience in global business environments and has been a leader at two of the industry's largest seed companies, one U.S. based and the other headquartered in Europe. From 1990 to 1996 he was President and CEO of Northrup King Co., Minneapolis, then an operating unit of Sandoz Seeds, at the time the second largest seed company in the world. In addition, while at Northrup King he served on the Sandoz Seeds Management Committee responsible for the global seed operations of the company. Prior to his tenure at Northrup King and Sandoz, he serve as President and COO of DEKALB-PFIZER GENETICS, Dekalb, IL during 1986-1990, after holding several key management positions at the number two seed corn company in the United States. Most recently, Mr. Schulze served as President of ACCESS Plant Technology, Inc. of Plymouth, IN, a technology transfer company. Dr. Thomas B. Rice also brings impressive industry credentials to his new position at AgriBioTech. Currently, he is a member of the board of directors of SEED GENETICS, Inc. and an industry, research and management consultant. Previously, he was with DEKALB Genetics Corporation where he served as Director of Research for 10 years and as President and COO of the subsidiary DEKALB Plant Genetics from 1990 to 1993. Dr. Rice was the chief architect of DEKALB's biotechnology strategy, and was responsible for initiating, managing and directing the plant biotechnology effort at Pfizer beginning in 1976 that evolved into DEKALB's highly productive biotechnology effort, an effort which developed the first genetically engineered corn and received the first patents for corn, covering insect resistance (Bt), herbicide resistance and improved nutritional quality. During his career, Dr. Rice has gained critical management experience in the areas of strategic alliances, international subsidiaries, breeding and biotechnology research and development, intellectual property rights, strategic planning and technology transfer. He received his Ph.D. in genetics from Yale University in 1973, and was a Post-Doctoral Fellow at Brookhaven National Laboratory and a Research Associate at Michigan State University prior to joining Pfizer and eventually serving at DEKALB. Regards, Gregg a/k/a/ RunBullRun