ERBA Diagnostics (ERBA) Names New CEO

November 29, 2016 4:31 PM EST

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ERBA Diagnostics, Inc. (OTC: ERBA) announced that, effective as of January 1, 2017, Hayden Jeffreys will become the Interim Chief Executive Officer of the Company. As previously reported, on December 31, 2016, the Employment Agreement (as amended) between the Company and Mohan Gopalkrishnan, the Company’s Chief Executive Officer, will expire in accordance with its terms and Mr. Mohan’s service as the Chief Executive Officer of the Company will cease.

Suresh Vazirani, Executive Chairman of the Board said, “I would like to thank Mr. Mohan for his stewardship during a turbulent period for the Company and wish him the best of luck in his future endeavors.”

Mr. Jeffreys’ appointment as Interim Chief Executive Officer is subject to Mr. Jeffreys having obtained the nonimmigrant visa necessary for him to work in the United States of America. Mr. Jeffreys, age 41, has served as a director on the Board of Directors of the Company (the “Board”) since May 31, 2016, and he plans to continue serving in that role too.

Mr. Jeffreys has 20 years of experience in the clinical diagnostics industry, with specialization in the molecular diagnostic and blood bank fields. Mr. Jeffreys also serves as the Commercial Director for the Molecular Diagnostics Division and Vice President Business Development and Strategy for ERBA Diagnostics Mannheim GmbH (“ERBA Mannheim”), and he plans to continue serving in that role too. Prior to joining ERBA Mannheim, Mr. Jeffreys served in a variety of positions for companies involved in the diagnostics industry, including: Commercial Director for Lumora Ltd., a molecular diagnostic product and technology development company, from 2012 through 2015; Divisional Director Diagnostic Products for Lab21 Healthcare (the diagnostic products division is now Trinity Biotech, PLC), a leading manufacturer of infectious disease, blood banking products and molecular diagnostic services, from 2008 through 2012; and, prior thereto, various positions at Invitron Ltd., Kronus Inc. and Gen-Probe UK Ltd. (now Hologic, Inc.).

Mr. Jeffreys said, “I am excited by the prospects and potential that the business has and I am looking forward to working with the Company’s dedicated and capable team.”

Mr. Jeffreys does not receive compensation from the Company for his service as a director on the Board and he is not expected to receive compensation from the Company for serving as Interim Chief Executive Officer.

ERBA Mannheim beneficially owns, directly or indirectly, approximately 83.3% of the outstanding shares of the Company’s common stock.



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