Las Vegas, Nevada
August 24, 1998Kent Schulze. President and Chief Operating
Officer (COO), AgriBioTech, Inc. announced today
the appointment of two senior executives to keY positions at the Company.
Randy Ingram joins the Company as Vice President
Assistant Chief Financial Officer and Director of Business Development. Ingram brings
solid finance, business and strategic planning skills to the management team at
AgriBioTech. Ingram's primary duties will be in the areas of investment analysis,
assistance in the development of acquisition, integration and business growth
strategies, and development and supervision of a capital review process. He will also
participate in strategic business planning.
Ingram most recently was Head. Business Planning and Development at
global headquarters of Novartis Seeds AG (Basel, Switzerland), the world's second largest
seed company. Prior to this position, he served as Vice President of Finance and Chief
Financial Officer (CFO) at Northrup King Co. (Minneapolis, NIN), at the time an operating
unit of Sandoz Seeds. Ltd. In his position at Novartis Seeds he coordinated global
strategic and annual business planning processes, and served as leader of technology
licensing and acquisition efforts. He also led new business development efforts in the
cotton, rice, and grasses seed sectors.
As Vice President of Finance and CFO at Northrup King Co., Ingram
headed all traditional finance activities including accounting, reporting, budgeting,
long-range financial planning, management information systems, and financial analysis.
Prior to his service at Northrup King, Ingram held increasingly important positions in
auditing and finance at Pioneer Hi-Bred International Inc. He began his career as an
auditor at Peat Marwick, currently KPMG Peat Marwick, LLP (KPMG). He is a Certified Public
Accountant, with extensive post graduate work in executive education at leading U. S. and
European institutions.
"We are extremely pleased to have Randy Ingram join our senior
management group,", said Kent Schulze. "He brings skills and experiences that
will help the Company aggressively pursue its strategy of building the premier forage and
turfgrass seed company in the world."
Mike Norris joins the Company as Director of
Information Systems. His primary responsibilities will be in the areas of the development
and management of information systems (IS) at AgriBioTech. The IS area includes business
applications, data base management and communications management.
Mike was
most recently a Senior Manager for KPMG in their Salt Lake City, UT offices. At KPMG,
Norris worked with clients in many areas to improve operational performance. During his
KPMG tenure, among others, he led strategic projects for clients in the areas of supply
chain management, strategy development. organizational design, re-engincering, and
activity-based management. Norris has worked in and led such efforts in a variety of
different industries and sectors including discrete and process manufacturing, packaged
goods, services, communications and systems.
Prior to KPMG, Norris was President of a Houston, TX based
diagnostic image management and processing software company. Earlier in his career he
served in various capacities at other companies, including manager of strategic
planning, manager of research and development, and as an engineer. Norris has earned MBA
and Master of Science degrees, and has a Bachelor of Science degree in engineering
"We are very pleased to have Mike Norris join
AgriBioTech," said Kent Schulze. "He will build on the solid progress we have
made to date on building our IS and communications systems and capabilities. He brings a
deep and wide base of experience in dealing with the critical needs of companies in the
areas of IS system development and integration into and support of strategic operations
planning."
AgriBioTech, Inc. is a fully integrated full service seed
company specializing in the forage and tutfgrass seed sector., complete with research and
development of proprietary seed varieties, seed processing plants, and a national and
international distribution and sales network. The Company has completed 29 acquisitions
since January 1, 1995 and is the largest forage and cool-season tuifgrass seed company in
the United States, with a current level of annualized net sales of approximately $425
million, including the previously announced pending acquisitions of Willamette Seed Co.
and Oseco Inc.
Contact:
John Francis
Vice President
AgriBioTech, Inc.
Tel: +1 (702) 566 2440
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