18.09.2007 20:15:00
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Affymetrix Promotes Kevin King to Company President
Affymetrix Inc. (Nasdaq:AFFX) announced today that it has promoted Kevin
M. King to president of the company, reporting to Stephen P.A. Fodor,
Ph.D., chairman and CEO. King previously served as president of the life
sciences business and executive vice president.
"Since joining the company in January 2007,
Kevin has helped refocus our life sciences business. Under his
leadership, we have rebuilt our executive leadership team, defined our
longer-term growth strategy and strengthened our market position by
successfully launching the SNP Array 6.0 ahead of schedule,”
said Fodor. "In his new position, Kevin will
also assume responsibility for the Molecular Diagnostics business unit.
I look forward to Kevin’s leadership, as we
continue to accelerate our business through the commercialization of our
innovations, strengthen the talent within the company and exceed our
customers’ expectations.”
Prior to joining Affymetrix, King worked at Thomson Corporation, where
he served as president and CEO of Thomson Healthcare, the $500 million
healthcare and pharmaceutical information services division of Thomson
Corporation. At Thomson Healthcare, King was responsible for developing
and implementing the growth strategy that led to its industry-leading
position within the $7 billion healthcare decision support market. King
has also held senior executive positions at General Electric Healthcare,
including vice president and general manager, Global Clinical Systems.
In that position, he grew the business to more than $900 million in
revenue through the global sales distribution expansion, introduction of
new technologies and strategic acquisitions. In addition, King brings
more than 14 years of experience at Hewlett-Packard, where his many
accomplishments included the creation of a web-enabled systems strategy
to help speed the drug discovery process and reduce the time to complete
clinical trials.
"Affymetrix microarray technology has quickly
become the Gold standard tool for life sciences, molecular diagnostic
and consumer genetic applications,” said King. "The
latest generation of Affymetrix arrays is enabling our customers to
identify the genetic causes of complex diseases, such as Alzheimer’s,
Parkinson’s and different types of cancers,
in order to bring a more personalized form of healthcare to people
around the world.” About Affymetrix
Affymetrix GeneChip®
microarray technology is the industry-standard tool for analyzing
complex genetic information. After inventing microarray technology in
the late 1980s, Affymetrix scientists have been dedicated to developing
innovative products that provide researchers with a more complete view
of the genome. These products continue to accelerate genetic research
and enable scientists to develop diagnostics and tailor treatments for
individual patients by identifying and measuring the genetic information
associated with complex diseases.
Today, Affymetrix technology is used by the world’s
top pharmaceutical, diagnostic and biotechnology companies, as well as
leading academic, government and not-for-profit research institutes.
More than 1,600 systems have been shipped around the world and more than
9,500 peer-reviewed papers have been published using the technology.
Affymetrix is headquartered in Santa Clara, Calif., and has
manufacturing facilities in Sacramento, Calif., and Singapore. The
company has about 1,100 employees worldwide and maintains sales and
distribution operations across Europe and Asia. For more information
about Affymetrix, please visit the company’s
website at www.affymetrix.com.
Forward-looking Statements
All statements in this press release that are not historical are "forward-looking
statements” within the meaning of Section 21E
of the Securities Exchange Act as amended, including statements
regarding Affymetrix’ "expectations,” "beliefs,” "hopes,” "intentions,” "strategies”
or the like. These include statements related to the value of Kevin King’s
experience and expertise to Affymetrix, which are prospective. Such
statements are subject to risks and uncertainties that could cause
actual results to differ materially for Affymetrix from those projected,
including, but not limited to: risks and uncertainties associated with
the management changes discussed in this press release; risks of the
company’s ability to achieve and sustain
higher levels of revenue, higher gross margins and reduced operating
expenses; uncertainties relating to technological approaches,
manufacturing and product development; personnel retention;
uncertainties related to cost and pricing of Affymetrix products;
dependence on collaborative partners; uncertainties relating to
sole-source suppliers; uncertainties relating to FDA and other
regulatory approvals; competition; risks relating to intellectual
property of others and the uncertainties of patent protection and
litigation. These and other risk factors are discussed in Affymetrix’
Form 10-K for the year ended December 31, 2006, and other SEC reports,
including its Quarterly Reports on Form 10-Q for subsequent quarterly
periods. Affymetrix expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in Affymetrix’
expectations with regard thereto or any change in events, conditions or
circumstances on which any such statements are based.
NOTE: Affymetrix, the Affymetrix logo and GeneChip®
are registered trademarks owned or used by Affymetrix Inc.
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