RADNOR, Pa., May 19, 2016 /PRNewswire/ -- Safeguard
Scientifics, Inc. (NYSE:SFE) today announced that Robert J. Rosenthal, Ph.D. has been elected
Chairman of the Board of the Company. Dr. Rosenthal has served on
Safeguard's board of directors since 2007. Dr. Rosenthal succeeds
Andrew E. Lietz, who served on the
Company's board of directors since 2003 and as its Chair since
2009. Jack L. Messman also retired
yesterday from Safeguard's board of directors after 22 years of
service.
At Safeguard's 2016 annual meeting, shareholders approved a
non-binding, advisory resolution concerning the compensation of
Safeguard's named executive officers, and ratified KPMG's
appointment as Safeguard's independent registered public accounting
firm for 2016. In addition, seven incumbent members of Safeguard's
board of directors were re-elected:
- Mara G. Aspinall, former
President and Chief Executive Officer of Ventana Medical Systems,
director since 2014;
- Julie A. Dobson, former Chief
Operating Officer of Telecorp PCS, Inc., director since 2003;
- Stephen Fisher, Senior Vice
President and Chief Technology Officer, eBay, Inc., director since
2015;
- George MacKenzie, former CEO,
American Water Works Company Inc., director since 2003;
- John J. Roberts, retired Global
Managing Partner, PricewaterhouseCoopers LLP, director since
2003;
- Robert J. Rosenthal, Ph.D.,
Chief Executive Officer of Taconic Biosciences, Inc., director
since 2007; and
- Stephen T. Zarrilli, President
and Chief Executive Officer of Safeguard, director since 2012.
"Bob has been a tremendous supporter of, and advocate for,
Safeguard over the years. In his new role as Chairman, Bob has an
incredible opportunity to amplify his leadership and impact on the
future of our company," said Mr. Zarrilli. "Andy and Jack deserve
our gratitude and appreciation for their years of service, guidance
and support—Jack as a distinguished entrepreneur having been the
driver for two of Safeguard's biggest successes; and Andy through
his many years as a notable and honorable Chairman helping to
turnaround and reignite Safeguard following the dot-com bubble.
Their influence and impact will reverberate for years to come."
About Safeguard Scientifics
Safeguard Scientifics,
Inc. (NYSE:SFE) has a distinguished track record of fostering
innovation and building market leaders. For more than 60 years,
Safeguard has been providing growth capital and operational support
to entrepreneurs across an evolving spectrum of industries. Today,
Safeguard targets early- and growth-stage companies in advertising
technology, digital media, financial technology, enterprise
software, digital health and healthcare IT. For more information,
please visit www.safeguard.com or follow us on Twitter
@safeguard.
Forward-looking Statements
Except for the
historical information and discussions contained herein, statements
contained in this release may constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Our forward-looking statements are subject to
risks and uncertainties. The risks and uncertainties that could
cause actual results to differ materially include, among others,
our ability to make good decisions about the deployment of capital,
the fact that our partner companies may vary from period to period,
our substantial capital requirements and absence of liquidity from
our partner company holdings, fluctuations in the market prices of
our publicly traded partner company holdings, competition, our
inability to obtain maximum value for our partner company holdings,
our ability to attract and retain qualified employees, market
valuations in sectors in which our partner companies operate, our
inability to control our partner companies, our need to manage our
assets to avoid registration under the Investment Company Act of
1940, and risks associated with our partner companies, including
the fact that most of our partner companies have a limited history
and a history of operating losses, face intense competition and may
never be profitable, the effect of economic conditions in the
business sectors in which Safeguard's partner companies operate,
and other uncertainties described in our filings with the
Securities and Exchange Commission. Many of these factors are
beyond the Company's ability to predict or control. As a result of
these and other factors, the Company's past financial performance
should not be relied on as an indication of future performance. The
Company does not assume any obligation to update any
forward-looking statements or other information contained in this
press release.
SAFEGUARD CONTACTS:
For Investor Relations
John E. Shave III
Senior Vice President, Investor Relations and Corporate
Communications
610.975.4952
jshave(at)safeguard(dot)com
For Media Relations
Heather R. Hunter
Vice President, Corporate Communications
610.975.4923
hhunter(at)safeguard(dot)com
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SOURCE Safeguard Scientifics Inc.