News

  March 03, 2009

AMRI Announces Promotion for CFO Mark T. Frost

Download pdf

Albany, NY (March 3, 2009)—AMRI (NASDAQ: AMRI) today announced the promotion of Chief Financial Officer Mark T. Frost to senior vice president, administration and chief financial officer. In this expanded role, Mr. Frost will add to his responsibilities for finance and accounting the leadership for investor relations, sourcing, legal, communications, information technology, facility management and logistics, and will continue to report to Chairman, CEO and President Thomas E. D’Ambra, Ph.D. Mr. Frost joined AMRI as chief financial officer in December 2004.

“In recognition of Mark’s role in the organization and his contributions above and beyond a CFO’s responsibilities, I am pleased to announce this promotion,” said Dr. D’Ambra.  “Mark has made significant contributions and provided important leadership to AMRI on multiple fronts as a member of the senior management team.  Over the past four years, he has helped lead an increase in the profitability of our contract business, excluding Allegra, of over 340%.”

Dr. D’Ambra continued, “As part of this promotion, additional responsibilities have been added to his workload.  Given Mark’s record for obtaining positive results, we believe this transition will further enable AMRI to benefit from organizational synergies as we continue to focus on implementing practices that will keep our costs of doing business low while maintaining industry-leading standards for quality and customer service.”

Prior to joining AMRI, Mr. Frost served as vice president of finance for Smith & Nephew Endoscopy, a global medical device division of S&N PLC.  Prior to Smith & Nephew, he spent 14 years in progressively responsible positions at General Electric Company.  Mr. Frost received a B.A. with honors in International Relations/Economics from Colgate University, and conducted graduate coursework at INSEAD.

About AMRI

Founded in 1991, Albany Molecular Research Inc. provides scientific services, products and technologies focused on improving the quality of life.  AMRI works on drug discovery and development projects and conducts manufacturing of active ingredients and pharmaceutical intermediates for many of the world's leading healthcare companies.  As an additional value added service to its customers, the company is also investing in R&D in order to expand its contract services and to identify novel early stage drug candidates with the goal to outlicense to a strategic partner.  With locations in the U.S., Europe, and Asia, AMRI provides customers with a wide range of services, technologies and cost models.

Forward-looking Statements

Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties.  These statements may be identified by forward-looking words such as "may," "could," "should," "would," "will," "intend," "expect," "anticipate," "believe" and "continue" or similar words.  Readers should not place undue reliance on our forward-looking statements. The company's actual results may differ materially from such forward-looking statements as a result of numerous factors, some of which the company may not be able to predict and may not be within the company's control.  Factors that could cause such differences include, but are not limited to the company's ability to attract and retain experienced scientists, trends in pharmaceutical and biotechnology companies outsourcing of chemical research and development, delay or denial of approvals from the FDA, the company's ability to enforce its intellectual property and technology rights, the risks posed by international operations to the company, and the company's ability to effectively manage its growth as well as those factors discussed in the company's Annual Report on Form 10-K for the year ended December 31, 2007 as filed with the Securities and Exchange Commission on March 17, 2008 and the company's other SEC filings. The company does not undertake any duty to and does not intend to update any forward-looking statements contained in this press release after the date of this press release.

Contacts:

Media – Andrea Schulz, AMRI Corporate Communications, 518-512-2226

Investors – Peter Jerome, AMRI Director of Investor Relations, 518-512-2220