This article was originally published in The Gray Sheet
Company forms four-person executive committee following the ouster of President and CEO Steven Frankel by Quidel's board of directors. Explaining the move, the company cites the board's focus on signing more collaborations and alliances with other firms and improving Quidel's bottom line. For the nine months ended Dec. 31, Quidel's revenue was up 9% to $34.8 mil., while income dropped 44.8% to $1.3 mil. Frankel joined Quidel in June 1992 and became CEO in May 1994. The executive committee, led by board Chairman Richard Morgan, will run the company until a successor is appointed...
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