Timothy Barabe Appointed Chief Financial Officer of Affymetrix
Barabe Joins Affymetrix as Executive Vice President and Chief Financial Officer
SANTA CLARA, Calif.--(BUSINESS WIRE)--Mar 15, 2010 - Affymetrix, Inc. (NASDAQ:AFFX) today announced that Timothy Barabe has been appointed Executive Vice President and Chief Financial Officer of the company. Barabe will lead the company's financial functions as well as the treasury, investor relations, and information technology departments, reporting to Kevin King, President and Chief Executive Officer.
"Tim has a proven ability to translate business strategy into financial success, and I'm delighted that he will be joining my leadership team to help drive growth," said King. "With his experience in the medical and life science sectors and passion for financial excellence, Tim is a natural fit for Affymetrix."
Barabe joins Affymetrix with experience from top-tier pharmaceutical, medical, and emerging life science companies. Since 2006, he served as Senior Vice President and Chief Financial Officer at Human Genome Sciences. Previously, Barabe was Chief Financial Officer at Regent Medical Ltd. For more than 20 years, he held senior executive roles in finance, general management, and strategic planning at Novartis AG, the world's sixth largest pharmaceutical company1. His roles included Chief Financial Officer of the Sandoz Generics Business Unit, President of the CIBA Vision Corporation Specialty Lens Business Franchise, and Group Vice President and Chief Financial Officer of CIBA Vision Corporation.
"Affymetrix is a pioneering brand with innovative new technologies," said Barabe. "I'm extremely excited to join a team committed to financial strength and discipline. I look forward to working with the entire leadership team to focus on human health, driving results, and creating value for our shareholders."
Barabe received his MBA in finance from the University of Chicago and his BBA in finance from the University of Massachusetts.
Barabe replaces John Batty, who served three years at Affymetrix and was instrumental in laying the foundation for the company's long-term growth.
1Fortune Global 500, Pharmaceuticals, July 2009.
Affymetrix technology is used by the world's top pharmaceutical, diagnostic, and biotechnology companies, as well as leading academic, government, and nonprofit research institutes. More than 1,900 systems have been shipped around the world and more than 21,000 peer-reviewed papers have been published using the technology.
Affymetrix is headquartered in Santa Clara, Calif., and has manufacturing facilities in Cleveland, Ohio, and Singapore. The company has about 1,000 employees worldwide and maintains sales and distribution operations across Europe and Asia. For more information about Affymetrix, please visit www.affymetrix.com.
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. Such statements are subject to risks and uncertainties that could cause actual results to differ materially for Affymetrix from those projected. These and other risk factors are discussed in Affymetrix' Form 10-K for the year ended December 31, 2009, and other SEC reports for subsequent quarterly periods.
Contact: Affymetrix Inc.
Annette Summers, 408-731-5169
Senior Director, Communications
Doug Farrell, 408-731-5285
Vice President, Investor Relations