AIG's (AIG) Peter Hancock Assumes CEO Role; Benmosche Becomes Advisor Sep 1, 2014 03:23PM

American International Group (NYSE: AIG) announced that, in accordance with the company’s succession plan, previously disclosed on June 10, 2014, Peter D. Hancock has assumed the role of President and Chief Executive Officer of AIG, and has joined AIG’s Board of Directors. Mr. Hancock succeeds Robert H. Benmosche, who retired and now serves as an advisor to AIG.

Mr. Hancock, 56, joined AIG in 2010 and was named Chief Executive Officer of AIG Property Casualty in March 2011, when the division was reorganized into two major global groups: Commercial and Consumer. He had previously served as Executive Vice President, Finance, Risk, and Investments, AIG. Mr. Hancock has spent his entire career in financial services, including 20 years at J.P. Morgan, where he established the Global Derivatives Group, ran the Global Fixed Income business and Global Credit portfolio, and served as the firm’s Chief Financial Officer and Chief Risk Officer. He co-founded and served as President of Integrated Finance Limited, an advisory firm specializing in strategic risk management, asset management, and innovative pension solutions. He joined AIG from KeyCorp, where he was Vice Chairman, responsible for Key National Banking.

Mr. Hancock is a member of the International Advisory Board of BritishAmerican Business. In 2014, he received that organization’s Corporate Citizenship Award. He is a William Pitt Fellow of Pembroke College, Cambridge. Mr. Hancock was raised in Hong Kong and later attended Oxford University, where he earned his Bachelor of Arts degree in politics, philosophy, and economics.


Hercules Technology Growth Capital (HTGC) COO Resigns Aug 29, 2014 04:38PM

On August 25, 2014, Harry A. Feuerstein announced his resignation, effective August 30, 2014, from his position as Chief Operating Officer of Hercules Technology Growth Capital, Inc. (NYSE: HTGC) due to personal reasons. Mr. Feuerstein will continue to serve the Company as an outside consultant.


Mast Therapeutics (MSTX) CMO to Depart, Replacement Named Aug 29, 2014 04:06PM

Mast Therapeutics, Inc. (NYSE: MSTX) announced today that Santosh Vetticaden, Chief Medical Officer and Senior Vice President, will be leaving the Company, for personal reasons, in mid-September. Edwin L. Parsley, D.O., the Chief Medical Officer of Aires Pharmaceuticals, which Mast acquired earlier this year, will assume Dr. Vetticaden's former responsibilities as the Company's interim Chief Medical Officer. Dr. Parsley previously was with Pfizer, where he oversaw clinical trials for Revatio® (sildenafil). He is a practicing physician and certified by the American Board of Internal Medicine in internal medicine, pulmonary disease, critical care medicine, and sleep medicine. Dr. Parsley has been actively engaged with the Company since Aires was acquired by Mast in February 2014.

"We want to thank Santosh for his many contributions and wish him the very best in his future endeavors," said Brian Culley, Chief Executive Officer. "Santosh has put in place a strong clinical operations group that has us well-positioned to advance our programs through late-stage development. In addition to executing a successful QT study last year, his team is actively recruiting patients in EPIC, our pivotal Phase 3 study, at more than 50 U.S. and international sites. They are also actively recruiting patients in our Phase 2 combination study with MST-188 and r-tPA in acute limb ischemia, and have us poised to launch a third clinical study in heart failure next year. Santosh accomplished much during his tenure and leaves us with the people and infrastructure to achieve four clinical study read-outs over the next 12 to 18 months."


Donegal Group, Inc. (DGICA) Reports CEO on Medical Leave Aug 29, 2014 04:01PM

Donegal Group Inc. (Nasdaq: DGICA) (Nasdaq: DGICB), announced today that its chief executive officer, Donald H. Nikolaus, will be on a temporary medical leave of absence.

The Board has named Kevin G. Burke to serve as DGI's acting chief executive officer during Mr. Nikolaus' recovery period. Mr. Nikolaus will continue to serve as President and Chief Executive Officer of Donegal Mutual Insurance Company and his other Donegal positions while he recovers. Mr. Nikolaus stated, "I am committed to remain as active as I can be in our business as my health permits and plan to return at the conclusion of my medical leave. I am confident that Kevin Burke and the other members of our experienced management team will successfully execute our strategic business plans."


Vicon Industries (VII) Completes IQinVision Merger; Sets Special Dividend Payment Date Aug 29, 2014 02:25PM

Vicon Industries, Inc. (AMEX: VII) has completed the previously announced merger with IQinVision, Inc. (“IQinVision”), a designer and producer of high performance HD/megapixel IP cameras. The merger creates a global market leader of integrated solutions to the video security market.

Today’s announcement follows shareholder approval of the issuance of Vicon common stock in connection with the merger by the Vicon shareholders at their Annual Meeting held on August 28, 2014 and of the Merger Agreement and the transactions contemplated thereby by the IQinVision shareholders by written consent.

As a result of the merger, the shareholders of Vicon and IQinVision each own approximately 50% of the outstanding shares of common stock of Vicon.

Vicon Chairman and CEO Ken Darby said of the merger, “we are delighted to join forces with IQinVision. The combination of highly regarded brands within the security industry allows us to bring a compelling and completely proprietary video solution to our customers.”

The board of directors of Vicon following the merger consists of three continuing directors of Vicon (Messrs. Kenneth M. Darby, Arthur D. Roche and Julian A. Tiedemann) and three directors designated by IQinVision (Mr. Charles Chestnutt, Ms. Gioia Messinger and Mr. Joseph Budano).

Vicon also announced today that it has set a payment date of September 12, 2014 for the special cash dividend of $0.55 per common share payable to Vicon shareholders of record as of the close of business on July 11, 2014, which was previously announced, but conditioned upon the closing of the merger.


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