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Stock Market & Financial Investment News

News Breaks
July 1, 2014
07:05 EDTALRAlere announces resignation of CEO Ron Zwanziger and succession plan
Alere announced as part of its ongoing review of its strategy and operations, that COO Namal Nawana has been appointed interim CEO and President following the resignation of Ron Zwanziger as CEO, President and a director of the Company, effective immediately. Jerry McAleer, Senior Vice President Research and Development and a director, and Dave Scott, Chief Scientific Officer, also resigned effective immediately. The Alere Board of Directors will initiate a search process and plans to retain a leading executive search firm to identify a permanent CEO and President. The search process will include a review of both internal and external candidates. Nawana will maintain his current responsibilities as COO during the transition period.
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October 1, 2014
08:03 EDTALRAlere to receive $12.9M in development support from BARDA for diagnostic device
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September 18, 2014
14:34 EDTALRZwanziger says Alere will not provide due diliegence
Ron Zwanziger disclosed that he sent an email to Gregg Powers, Alere's Chairman of the Board, seeking a meeting to discuss the proposed due diligence period. Zwanziger also noted that representatives from a private equity firm and an investment bank would accompany him to the meeting to discuss equity and debt financing related to the proposed transaction and to assure Mr. Powers that the proposal is and will be bona fide. Zwanziger said Powers responded by letter, declining the proposed meeting. He also indicated that Alere would not be providing any due diligence opportunity to the former officers. Powers also stated in the Alere Letter that the board would appropriately consider any proposal it believes to be bona fide and would maximize shareholder value.

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