Calvert Holdings, Inc. Announces Executive Management Changes

Calvert Holdings, Inc. announced that Michael A. Recny, Ph.D., has been appointed Chief Executive Officer and has been elected a Director of the Company.

2014-04-01

CARY, NC, April 01, 2014 (Press-News.org) Calvert Holdings, Inc. announced that Michael A. Recny, Ph.D., has been appointed Chief Executive Officer and has been elected a Director of the Company. He replaces Russ McLauchlan, who will become Executive Chairman and who will also now head the newly formed Executive Committee of Calvert Holdings, which will include Dr. Recny, Allan Reiss, President of Calvert Holdings, Inc., and Charles Spainhour, DVM, Ph.D, the Company's Chief Scientific Officer. Dr. Recny will also continue to serve as President of Calvert Research, LLC, which is the investment arm of Calvert Holdings.

Of these executive changes, Russ McLauchlan states "We founded Calvert Holdings, Inc. in 1996 with a vision to enter the service sector of the biopharmaceutical industry and to provide a platform to work with early stage companies as they navigate the regulatory path with their experimental drugs toward eventual commercialization. Our first acquisition, Calvert Laboratories, Inc., gave us that entry point. Over the years, we have added and modified several service offerings to the Calvert Labs base, and we intend to continue growing and diversifying the services we can offer to our clients. We have identified several specific opportunities to continue our expansion plans, and I feel now is the time to adjust our management structure to execute on our strategy. Dr. Recny is extremely qualified to lead our efforts going forward, and the creation of an Executive Committee will maximize our overall corporate strengths. I am very pleased to announce this move and look forward to the continued growth of the Company."

"I am truly excited and honored to accept the role of Chief Executive Officer for Calvert Holdings" said Dr. Recny. "I've been working closely with Russ McLauchlan since 2007, and we share a common vision for where we want to take our Company over the next decade. I look forward to continuing to work closely with Russ and the other members of our Executive Committee to achieve our ambitious growth plans."

Formed in 1996, Calvert Holdings, Inc. is a privately-held company that provides vision, resources and business leadership for all of the companies we develop or acquire. Calvert Holdings (www.calvertholdings.com) is currently the parent company of Calvert Laboratories, Inc. (www.calvertlabs.com), Calvert Research, LLC (www.calvert-research.com) and Crescent Green Management Advisors, LLC (www.crescentgreenadvisors.com).

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