Business
Covalon Appoints Brian Pedlar as CEO
Covalon Appoints Brian Pedlar as CEO
About this update from Covalon Technologies Ltd.
[{"type":"text","content":"\n\n\n\nMISSISSAUGA, ON, Apr. 5, 2010 (Canada NewsWire Group) -- /CNW/ -- Covalon Technologies Ltd. (the \"Company\" or \"Covalon\") (TSX-V: COV), an advanced medical products company, has appointed Mr. Brian Pedlar, a current director of the Company, as Chief Executive Officer of the Company. Mr. Pedlar replaces Dr. Frank DiCosmo, who has terminated his services arrangement with the Company over a disputed bonus payment.Mr. Martin Bernholtz, Covalon's Chairman of the Board said, \"We are extremely pleased that Brian Pedlar has agreed to become CEO. Covalon views this as an opportunity to more aggressively pursue its transition from a pure medical R&D company to a medical commercialization company. We are all very optimistic about Covalon's future. We sincerely wish Frank DiCosmo well in his future endeavors and thank him for his past contributions to Covalon.\"Mr. Pedlar will assume all the duties and responsibilities as CEO and will be working closely with Mr. William Jackson, Covalon's Co-Founder, Chief Business Officer and Chief Financial Officer, Dr. Val DiTizio, Covalon's Co-Founder and Chief Scientific Officer and all of Covalon's talented staff to continue to develop new business opportunities for the Company.Mr. Pedlar is President of Pedlar Ventures Limited, a private venture investment and consulting firm based in Oakville, Ontario. He has extensive international business development experience in the medical industry as well as mergers, acquisitions and public company finance experience through serving in senior executive positions with public companies including Merge Healthcare, Cedara Software Corp. and IMAX Corporation. Mr. Pedlar holds a Bachelor of Science degree from Mount Allison University, a post-graduate Diploma in Accounting from Wilfrid Laurier University and is a Canadian Chartered Accountant.The Board of Directors of the Company will be meeting on Wednesday, April 7, 2010 to consider what impact, if any, this development will have on the holding of the annual and special meeting of the Company currently scheduled for Friday April 9, 2010. An update announcement will be made by the Company on Wednesday April 7, 2010.About CovalonCovalon Technologies Ltd. is an advanced medical products company that develops, patents and commercializes therapeutic biomaterials for wound care and surgical applications and...