GTG CEO extends leave through March
Genetic Technologies (ASX:GTG) has revealed that CFO and acting CEO Tom Howitt will remain in charge at the company for six weeks longer than planned.
Howitt is filling in for CEO Alison Mew, who took leave in mid October for health-related reasons.
Mew had been scheduled to return in mid January, but the company today announced that she has extended her leave until the end of March. Howitt will continue on as acting CEO in the interim.
Genetic Technologies also announced that it has entered into a fresh settlement as part of its extensive patent enforcement efforts in the US.
The company has agreed to dismiss the suit it filed against US-based Reprogenetics in late 2012 - alleged infringement of GTG’s non-coding DNA patents - after reaching a confidential settlement agreement with the defendant.
The settlement follows a long line of similar agreements reached during 2013.
Genetic Technologies (ASX:GTG) shares were trading unchanged at $0.054 as of around 12.30 pm on Tuesday.
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