LBT announces retirement of CEO

Company News

Adelaide-based medical technology company LBT Innovations (ASX: LBT) has announced that its long-standing Chief Executive Officer, Lusia Guthrie, will retire from the company in 2016 due to health reasons.

Mrs Guthrie has been CEO of the technology developer since she co-founded the company in 2004.

She steered LBT through its formative years, negotiating the global licensing of its first technology, the MicroStreak automated culture plate streaking system (in market as PREVI Isola), and more recently, the development of its plate analysis technology, APAS (the Automated Plate Assessment System).

LBT’s Chairman, Bob Finder, said the company and Board would miss Mrs Guthrie’s pivotal leadership, but that it understood her reasons for stepping down.

“This is a sad day for LBT, as we are losing our leader just as the company is about to realise the fruits of some of her greatest labours,” said Mr Finder.

“However, we do understand why Lusia has to leave and we fully support her.

“LBT would never have been formed without Lusia, who together with Scientific Director John Glasson was the driving force in commercialising MicroStreak, which enabled us to list on the ASX. She is leaving us in extremely good shape based on the recent licensing revenue for MicroStreak and the excellent clinical trial results of APAS.”

The company confirmed Ms Guthrie will continue to support and advise the company through the transition to the new CEO and potentially beyond.

“The past 11 years have been demanding and challenging, but at the same time they have been some of the most rewarding years of my professional career. The team we have assembled are some of the brightest and most inspiring people I have worked with. The LBT Board has been extremely supportive in giving us the leeway and resources to pursue our ideas and vision. To say that I have been proud to lead this team would be a serious understatement,” said Mrs Guthrie.

Mr Finder said that the company is now in the process of recruiting a new CEO.