(BSNS WIRE) AgriBioTech Inc. Announces the Appointment of Two Senior Exe
AgriBioTech Inc. Announces the Appointment of Two Senior Executives
Business Editors
LAS VEGAS--(BUSINESS WIRE)--Aug. 24, 1998--Kent Schulze,
president and chief operating officer (COO), AgriBioTech Inc.
(NASDAQ/NMS:ABTX) announced today the appointment of two senior
executives to key positions at the company.
Randy Ingram joins the company as vice president, assistant chief
financial officer and director of Business Development. Ingram brings
solid finance, business and strategic planning skills to the
management team at AgriBioTech.
Ingram's primary duties will be in the areas of investment
analysis, assistance in the development of acquisition, integration
and business growth strategies, and development and supervision of a
capital review process. He will also participate in strategic business
planning.
Ingram most recently was head, Business Planning and Development
at global headquarters of Novartis Seeds AG (Basel, Switzerland), the
world's second largest seed company. Prior to this position, he served
as vice president of finance and chief financial officer (CFO) at
Northrup King Co. (Minneapolis), at the time an operating unit of
Sandoz Seeds Ltd.
In his position at Novartis seeds he coordinated global strategic
and annual business planning processes, and served as leader of
technology licensing and acquisition efforts. He also led new business
development efforts in the cotton, rice, and grasses seed sectors.
As vice president of finance and CFO at Northrup King Co., Ingram
headed all traditional finance activities including accounting,
reporting, budgeting, long-range financial planning, management
information systems, and financial analysis.
Prior to his service at Northrup King, Ingram held increasingly
important positions in auditing and fiance at Pioneer Hi-Bred
International Inc. He began his career as an auditor at Peat Marwick,
currently KPMG Peat Marwick LLP (KPMG). He is a Certified Public
Accountant, with extensive post graduate work in executive education
at leading U.S. and European institutions.
"We are extremely pleased to have Randy Ingram join our senior
management group," said Kent Schulze. "He brings skills and
experiences that will help the company aggressively pursue its
strategy of building the premier forage and turfgrass seed company in
the world."
Mike Norris joins the company as director of Information Systems.
His primary responsibilities will be in the areas of the development
and management of information systems (IS) at AgriBioTech. The IS area
includes business applications, data base management and
communications management.
Mike was most recently a senior manager for KPMG in their Salt
Lake City offices. At KPMG, Norris worked with clients in many areas
to improve operational performance. During his KPMG tenure, among
others, he led strategic projects for clients in the areas of supply
chain management, strategy development, organizational design,
re-engineering, and activity based management.
Norris has worked in and led such efforts in a variety of
different industries and sectors including discrete and process
manufacturing, packaged goods, services, communications and systems.
Prior to KPMG, Norris was president of a Houston based diagnostic
image management and processing software company. Earlier in his
career he served in various capacities at other companies, including
manager of strategic planning, manager of research and development and
as an engineer. Norris has earned MBA and Master of Science degrees,
and has a Bachelor of Science degree in engineering.
"We are very pleased to have Mike Norris join AgriBioTech," said
Kent Schulze. "He will build on the solid progress we have made to
date on building our IS and communications systems and capabilities.
He brings a deep and wide base of experience in dealing with the
critical needs of companies in the areas of IS system development and
integration into and support of strategic operations planning."
AgriBioTech Inc. is a fully integrated full service seed company
specializing in the forage and turfgrass seed sector, complete with
research and development of proprietary seed varieties, seed
processing plants, and a national and international distribution and
sales network.
The company has completed 29 acquisitions since Jan. 1, 1995, and
is the largest forage and cool-season turfgrass seed company in the
United States, with a current level of annualized net sales of
approximately $425 million, including the previously announced pending
acquisitions of Willamette Seed Co. and Oseco Inc.
The statements discussed in this press release include
forward-looking statements that involve a number of risks and
uncertainties. These include the company's historical lack of
profitability, need to manage its growth, intense competition in the
seed industry, seasonality of quarterly results, and other risks
detailed from time to time in the company's SEC reports.
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CONTACT: AgriBioTech Inc., Las Vegas
John Francis, 702/566-2440
www.agribiotech.com
KEYWORD: NEVADA
INDUSTRY KEYWORD: ENMED ENVIRONMENT MANAGEMENT CHANGES
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