Doug Schaedler Appointed Chief Executive Officer of UTEK Corporation
November 23 2009 - 8:00AM
Business Wire
UTEK Corporation (NYSE Amex:UTK), a leading IP licensing and
innovation services company, has announced that Doug Schaedler,
currently President, will assume Chief Executive Officer duties
effective November 23, 2009.
“Doug has proven in a relatively short period of time that he is
the right leader at the right time to take UTEK forward and grow
shareholder value. He has quickly gained the Board’s trust,
outlining a vision and a plan for attaining that vision which is
aggressive but achievable,” said Keith Witter, Chairman of UTEK
Corporation. “Doug has earned the title and responsibilities of
Chief Executive Officer and we are pleased to have him driving the
business.”
Mr. Schaedler, named President earlier this year, has focused on
building-out a scalable innovation growth platform for the
twelve-year old Company. He transitioned the Company recently from
its BDC status, realizing cost savings and efficiencies while also
allowing the business more directional flexibility and operational
control.
“Conventional methods of new product innovation need to change
worldwide, I am confident that we have the management team and
operational capabilities to drive this global transformation. The
Company is better positioned than ever to take a leadership role in
helping our clients innovate more effectively. With our highly
skilled innovation services team and growing number of online
licensing platforms, we plan to fundamentally alter the way
companies innovate,” stated Doug Schaedler, Chief Executive Officer
of UTEK Corporation.
About UTEK Corporation
UTEK® is a leading global IP licensing and innovation services
company. UTEK’s services enable its clients to enhance their
innovation capabilities, rapidly source externally developed
technologies, create value from their intellectual property and
gain foresight into marketplace and technology developments that
could affect their business. For more information about UTEK,
please visit its website at www.utekcorp.com.
Forward-Looking Statements
Certain matters discussed in this press release are
“forward-looking statements.” These forward looking statements can
generally be identified as such because the context of the
statement will include words such as UTEK “expects,” “should,”
“believes,” “anticipates” or words of similar import. Certain
factors could cause actual results to differ materially from those
projected in these forward looking statements and these factors are
identified from time to time in our filings with the Securities and
Exchange Commission. We undertake no obligation to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise. This press release is
available on UTEK’s website www.utekcorp.com.
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