|[July 01, 2014]
MOCON Expands Board; Names Two New Directors to its Board
MINNEAPOLIS --(Business Wire)--
MOCON, Inc. (NASDAQ: MOCO) today announced that it has expanded its
Board of Directors from eight to nine directors and that Kathleen
Iverson and Paul R. Zeller have joined its Board to fill the two vacant
seats. Ms. Iverson will also initially serve on the nominating and
governance committee of the Board, while Mr. Zeller will initially serve
on the audit committee.
Richard A. Proulx has resigned from MOCON's Board of Directors effective
July 1, 2014 leaving a vacant seat. Mr. Proulx's resignation was not the
result of any disagreement between MOCON and him on any matter relating
to MOCON's operations, policies or practices.
Ms. Iverson currently serves on the board of directors of Speed
Commerce, Inc., a provider of flexible end-to-end E-commerce services to
retailers and manufacturers. Ms. Iverson previously served as a director
of CyberOptics Corporation, a manufacturer of optical process control
sensors and measurement and inspection systems used in the electronics
assembly equipment market and in the semiconductor industry, from May
1998 through January 2014, and was Chairman of the Board from August
2009 until her departure from that board. Ms. Iverson served as the
President and CEO of CyberOptics from January 2003 until her retirement
from that company in January 2014.
Mr. Zeller will become the CFO of NatureWorks LLC on August 4, 2014.
NatureWorks is a joint venture of Cargill and PTT Global Chemical. Prior
to transitioning to NatureWorks, Mr. Zeller has been Senior Vice
President and Chief Financial Officer of Imation Corp. (News - Alert), a position he
has held since May 2009. Mr. Zeller was Vice President and Chief
Financial Officer of Imation from August 2004 to May 2009 and has been
with Imation Corp since Imation Corp's spin-off from 3M (News - Alert) Company in 1986.
He held the position of Corporate Controller from May 1998 to August
2004. Prior to joining Imation, Mr. Zeller held several accounting
management positions with 3M Company.
"We are pleased to welcome these two experienced executives to our Board
of Directors. Each brings a set of skills which we feel fit well with
our current business and our future needs, including public company
financial expertise, and experience with high technology manufacturing.
We look forward to the contribution these two qualified individuals will
make to MOCON's growth and success," said Robert L. Demorest, MOCON's
Chairman and CEO.
MOCON is a leading
provider of detectors, instruments, systems and consulting services to
research laboratories, production facilities, and quality control and
safety departments in the medical, pharmaceutical, food and beverage,
packaging, environmental, oil and gas and other industries worldwide.
for more information.
This press release contains forward-looking statements that are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements include
statements that can be identified by words such as "will," "may,"
"expect," "believe," "anticipate," "estimate," "continue," or other
similar expressions. All forward-looking statements speak only as of the
date of this press release. MOCON undertakes no obligation to update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise. In addition to the risks and
uncertainties of ordinary business operations and conditions in the
general economy and the markets in which the company competes, there are
important factors that could cause actual results to differ materially
from those anticipated by the forward-looking statements made in this
press release. These factors include, but are not limited to, the
integration and performance of Dansensor, the terms of our credit
agreement including financial covenants included therein, competition
and technological change, setbacks in product development programs,
order cancellations, dependence on certain key industries, and other
factors set forth in the company's Annual Report on Form 10-K for the
year ended December 31, 2013 and other documents MOCON files with or
furnishes to the Securities and Exchange Commission.
MOCON's shares are traded on the NASDAQ Global Market System under
the symbol MOCO.
MOCON is a registered trademark of MOCON,
Inc.; other trademarks are those of their respective holders.
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