Safeguard Scientifics Announces Resignation of James A. Datin
WAYNE, Pa.--(BUSINESS WIRE)-- Safeguard Scientifics, Inc. (NYSE:SFE), a holding company that provides growth capital and operational support to healthcare and technology companies, today announced that James A. Datin, Executive Vice President and Managing Director, has resigned effective June 30, 2013. Mr. Datin joined Safeguard in September 2005 as Managing Director of the Healthcare team and has led the entire capital deployment team since October 2011.
Jim Datin is a talented executive and consummate professional for whom we wish only the best in the next chapter of his career, said Stephen T. Zarrilli , Safeguard President and Chief Executive Officer. He helped revitalize and refocus the Company and leaves the Company in excellent financial and strategic condition. As a former CEO, Jim knows that once an executive achieves that managerial pinnacle, they never lose the ambition and desire to lead.
Since being named CEO in November 2012, Mr. Zarrilli has taken a more active, day-to-day role in Safeguards capital deployment process, as part of the strategic objectives announced at the beginning of his tenure. After significant review of organizational design matters for the Company within the first six-months of my tenure as CEO, I am implementing a flatter organizational structure to drive Safeguards future growth, continued Mr. Zarrilli. This proposed structure will provide a professional platform designed to yield greater efficiency and effectiveness in deploying capital and realizing exits. We also intend to further develop our segment domain knowledge with several key hires.
Mr. Datin will continue to serve on the boards of Safeguard partner companies NuPathe (PATH), Sotera Wireless and NovaSom in the capacity of a Safeguard representative.
About Safeguard Scientifics (SFE)
Founded in 1953 and based in Wayne, Pa., Safeguard Scientifics, Inc. provides growth capital and operational support to entrepreneurial and innovative healthcare and technology companies in medtech, healthtech, specialty pharmaceuticals, financial technology, digital media, and Enterprise 3.0. For more information, please visit our website at www.safeguard.com.
Safeguard Press Resources
Except for the historical information and discussions contained herein, statements contained in this release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Our forward-looking statements are subject to risks and uncertainties. The risks and uncertainties that could cause actual results to differ materially include, among others, the ability to deploy capital into partner companies, managing rapidly changing technologies, limited access to capital, competition, the ability to attract and retain qualified employees, the ability to execute our strategy, the uncertainty of the future performance of Safeguard partner companies, acquisitions and dispositions of Safeguard partner companies, the inability to manage growth, compliance with government regulations and legal liabilities, additional financing requirements, the effect of economic conditions in the business sectors in which Safeguards partner companies operate, and other uncertainties described in the Company's filings with the Securities and Exchange Commission. Many of these factors are beyond the Companys ability to predict or control. As a result of these and other factors, the Companys past financial performance should not be relied on as an indication of future performance. The Company does not assume any obligation to update any forward-looking statements or other information contained in this news release.
Safeguard Scientifics, Inc.
John E. Shave III
Vice President, Business Development
and Corporate Communications
Source: Safeguard Scientifics, Inc.Copyright Business Wire 2013