Quidel Corporation (Quidel) a, developer, manufacturer and marketer of rapid diagnostic solutions at the point of care (POC) in infectious diseases and reproductive health, announced that Caren L. Mason will retire as president and chief executive officer (CEO) of the company, effective June 1, 2009. The board of directors of Quidel has initiated a search for her replacement.
“I speak for the full Board of Directors of Quidel Corporation in recognizing Caren Mason for the outstanding leadership and results she has delivered for Quidel,” said Mark A. Pulido, chairman of the board of Quidel. “In her time with Quidel, she has generated double digit organic revenue growth, expanded operating margins from 2% to 24%, built a strong balance sheet with over $62 million of cash and secured a $120 million credit facility for expansion. She created the Quidel Value Build, QVB(R), premium value program for Quidel which enabled the company to grow very profitability through clinical and economic validation of its products. She will be leaving Quidel with strong distributor partnerships, acute care and retail market expansion and new products and technologies in development,” said Pulido.
“I am honored to have had the opportunity to lead Quidel for over four years,” said Caren Mason. “Quidel is very well positioned for the future and the Board is focusing upon very talented individuals with highly recognized and successful track records in diagnostics. I am confident that the board’s succession plan will be enthusiastically received by employees and investors. I will be leading the company until a successor is named, and I will advise the company through June 1, 2009. This will be an orderly and very positive succession process,” said Mason.