Innovative Biosensors, Inc. (IBI) announced the resignation of Joe Hernandez as its president and chief executive officer (CEO), effective August 7, 2009. Hernandez will continue to advise the company for several months thereafter. Effective with resignation of Hernandez, David Yost will serve as division president of the company's Clinical Division, and Ted Olsen will serve as division president of its Environmental Division.
Additionally, Olsen, who is the company’s current chief operating officer, will continue to serve in that capacity for both divisions while the board of directors engages in a search for Hernandez’ successor.
IBI is engaged in developing rapid, ultra-sensitive tests to detect harmful pathogens for both the biodefense and clinical infectious disease markets.