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Altair Nanotechnolgies Inc. (Altairnano) (NASDAQ: ALTI), a leading provider of advanced nanomaterials technology for use in energy, pharmaceutical, life sciences and industrial applications, today announced that Robert G. van Schoonenberg has been named a director of the Board. The addition expands the Board to seven members.
"Bob van Schoonenberg is a seasoned executive whose depth of experience in strategic planning, corporate governance and executive leadership greatly enhances the Altairnano Board," said Jon Bengtson, Altairnano's Chairman. "Bob has served in various legal and executive capacities for Fortune 500 companies for more than 30 years. In addition, his growing involvement with private equity and emerging companies provides a balance that will benefit Altairnano as it moves toward greater commercialization of its technology."
In an effort to further enhance its corporate governance, the company also reported that the Board established a new permanent Strategy Review Committee. The goal of this committee is to bring the Board closer to the company's strategic planning process on an ongoing basis, enabling more timely strategic counsel. Board members serving on the committee include Michel Bazinet, George Hartman, Mr. van Schoonenberg and Pierre Lortie, who will serve as Chair. All of the committee members are independent directors.
In addition, Mr. van Schoonenberg will serve as Chair of the Audit Committee and as a member of the Compensation Nominating and Governance Committee.
Mr. van Schoonenberg, 61, joins the Altairnano Board as an independent member. He currently serves as executive vice president, chief legal officer, and secretary to the board of directors of Avery Dennison Corporation. Prior to joining Avery Dennison in 1981, he was with Gulf Oil Corporation for seven years. Mr. van Schoonenberg also serves as chairman and chief executive officer of BayPoint Capital Partners, LLC, a private equity/advisory firm located in Newport Beach, California, a role to which he will devote full time upon his retirement from Avery Dennison in December 2008.
Mr. van Schoonenberg is on the Board of Guidance Software, Inc. (NASDAQ: GUID). He is a trustee of Southwestern University Law School (Los Angeles, California) and a past director of the advisory board of the University of Wisconsin Graduate School of Business. Mr. van Schoonenberg received his Bachelor of Arts degree in Economics from Marquette University, a Master of Business Administration from the University of Wisconsin, and a Juris Doctorate degree from the University of Michigan Law School.
About Altair Nanotechnolgies Inc.
Altairnano is an innovator and supplier of advanced novel, ceramic nanomaterials. A seasoned management team complements Altairnano's leading edge scientists, with substantial experience in commercializing innovative, disruptive technologies. The company has developed nanomaterials for the alternative energy, life sciences and performance materials markets based on its proprietary manufacturing process. This process also provides the foundation for its innovative AHP pigment process. For more information visit www.altairnano.com.
This release may contain forward-looking statements as well as historical information. Forward-looking statements, which are included in accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, may involve risks, uncertainties and other factors that may cause the Altairnano’s actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this release. In general, Altairnano is, and expects to be in the immediate future, dependent upon funds generated from sales of securities, grants, testing agreements, and licensing agreements to fund its testing, development and ongoing operations. In addition, other risks are identified in the company's most recent Annual Report on Form 10-K filed with the SEC. Such forward-looking statements speak only as of the date of this release. The company expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in company expectations or results or any change in events.
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