BERLIN, Aug. 17, 2006 (PRIMEZONE) -- The Supervisory Board of Epigenomics AG and the Chief Executive Officer and founder Alexander Olek have unanimously agreed that his service contract as well as his position as CEO will end as of 17 August 2006. Alexander Olek will continue to act as an advisor to Epigenomics.
"All I worked for in the years since IPO was to lead the transition of Epigenomics from a pure research company to one that will develop and sell its own products. The management and the Board fully support this strategy, which requires focused execution," said Alexander Olek, the founder of the company. "As an entrepreneur, I recognized that there are tasks that can more reliably be executed by an experienced manager, and a flawless commercialization of our products to me seems to be such a task."
"As a Board, we were impressed how leadership for the good of the company could go as far as recommending to hand over responsibility," commented Prof. Rolf Krebs, chairman of the company. "The Board would like to thank Dr. Olek for his outstanding contributions, significant development of the company, total commitment, and particularly for his dedication to the employees of Epigenomics," he added.
On Friday, August 18, 2006, there will be a conference call with management at 3:00 pm CET. The dial-in numbers will be provided on Epigenomics website on time.
The conference call will be recorded and afterwards available at the download section on our website.