Whatman Replaces CEO and Retains Biometra

Mr. Emhiser lasted 15 months on the job (see IBO 9/30/05), following the pattern of his predecessor, Howard Kelly, who also left after 15 months (see IBO 11/30/04). A lack of stable leadership has no doubt hurt the company. The decision to keep Biometra is logical given the growing applications for PCR and Whatman’s involvement in sample preparation markets.

Brentford, UK 1/18/07—Whatman announced that CEO Bill Emhiser (see IBO 9/30/05) has been replaced with Kieran Murphy, former chief executive of pharmaceutical company Innovata. The change follows disappointing sales results for 2006. The company estimates 2006 revenues rose 5% to £114 million ($211.1 million), missing November estimates of 6%–7% growth, and are expected to result in lower operating margins. The company also announced that its Biometra subsidiary, which has been classified as a discontinued operation since January 2005 (see IBO 7/15/03), will be removed from liquidation and reclassified as a continuing operation as part of the Bioscience segment. Having resolved patent infringement allegations and signed license agreements with Beckman Coulter and Applied Biosystems, Biometra can now sell fully licensed thermal cyclers. Biometra’s 2006 revenues are estimated to be £6.6 million ($12.2 million), with an operating profit of £1.2 million ($2.2 million). “Whatman is currently underperforming and it is disappointing to report that the Company has missed successive sales growth targets during 2006,” said Bob Thian, chairman of Whatman.

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