Retiring CEO of LBT Innovations (ASX:LBT), Lusia Guthrie, has delivered an upbeat message in her final note to shareholders.
"Although this will be my final letter to you as the Chief Executive of LBT Innovations, I enter my retirement with tremendous confidence that the company I co-founded will only continue to grow and prosper," she said.
Ms Guthrie announced her retirement from the company she co-founded in 2004 in August last year.
She steered LBT through its formative years, negotiating the global licensing of its first technology, the MicroStreak automated culture plate streaking system, and more recently, the development of its plate analysis technology, APAS (the Automated Plate Assessment System).
Ms Guthrie will be succeeded by Brent Barnes, who joins the company after a successful and widely travelled 11-year career at Cochlear.
"Coupled with his strong background in IT, Brent brings to LBT an impressive vision for the company’s future and an enormous capacity for hard work," said Ms Guthrie.
"Brent joins LBT at a critical point in its development. Following the completion of our de novo submission in December last year, the US Food and Drug Administration is in what we hope will be the final stages of assessing our APAS culture plate analysis technology. Our discussions with the FDA are well advanced, and we are hopeful of a positive outcome."
According to Ms Guthrie, discussions are progressing well in relation to global distribution of APAS Independence and other applications of APAS.
"LBT has been approached by two external companies expressing interest in partnering with us in the further commercialisation of our MicroStreak technology. Our discussions with these firms has raised the possibility of opening new international markets for MicroStreak."
Ms Guthrie thanked the company's shareholders for their "support and encouragement over the years."
"I will be providing Brent with any assistance he needs during his early days as our new CEO and together we look forward to bringing you news of LBT’s continued progress," she added.