People: Lannett Company Inc (LCI)


LCI on American Stock Exchange

11.64USD
19 Jun 2013
Price Change (% chg)

$-0.47 (-3.88%)
Prev Close
$12.11
Open
$12.06
Day's High
$12.06
Day's Low
$11.58
Volume
59,488
Avg. Vol
131,111
52-wk High
$13.07
52-wk Low
$3.90

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Summary

Name Age Since Current Position

Jeffrey Farber

 52 2012 Chairman of the Board

William Farber

 81 2011 Chairman Emeritus

Arthur Bedrosian

 67 2006 President, Chief Executive Officer, Director

Martin Galvan

 60 2012 Chief Financial Officer, Vice President - Finance, Treasurer

William Schreck

 64 2011 Chief Operating Officer

Robert Ehlinger

 55 2011 Vice President - Logistics, Chief Information Officer

Ernest Sabo

 64 2008 Vice President - Regulatory Affairs, Chief Compliance Officer

Kevin Smith

 52 2002 Vice President - Sales and Marketing

David Drabik

 44 2011 Independent Director

Kenneth Sinclair

 66 2005 Independent Director

Paul Taveira

 53 2012 Independent Director
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Biographies

Name Description

Jeffrey Farber

 Mr. Jeffrey Farber serves as Chairman of the Board of Lannett Company Inc. He was elected a Director of the Company in May 2006 and was appointed Chairman of the Board of Directors in July 2012. Mr. Farber joined the Company in August 2003 as Secretary. Since 1994, Mr. Farber has been President and the owner of Auburn Pharmaceutical (“Auburn”), a national generic pharmaceutical distributor. Prior to starting Auburn, Mr. Farber served in various positions at Major Pharmaceutical (“Major”), where he was employed for over 15 years. At Major, Mr. Farber was involved in sales, purchasing and eventually served as President of the mid-west division. Mr. Farber also spent time working at Major’s manufacturing division — Vitarine Pharmaceuticals — where he served on its Board of Directors. Mr. Farber graduated from Western Michigan University with a Bachelors of Science Degree in Business Administration and participated in the Pharmacy Management Graduate Program at Long Island University.

William Farber

 Mr. William R. Farber, Ph.D., is Chairman Emeritus of Lannett Company Inc., since June 1, 2011. He was elected as Chairman of the Board of Directors in August 1991. From April 1993 to the end of 1993, Mr. Farber was the President and a director of Auburn Pharmaceutical Company. From 1990 through March 1993, Mr. Farber served as Director of Purchasing for Pharmaceutical Corporation. From 1965 through 1990, Mr. Farber was the Chief Executive Officer of Michigan Pharmacal Corporation. Mr. Farber was previously a registered pharmacist in the State of Michigan for more than 40 years until his retirement from active employment in the pharmaceutical industry. On June 1, 2011, Mr. Farber retired from his position as Chairman of the Board and was appointed Chairman Emeritus.

Arthur Bedrosian

 Mr. Arthur P. Bedrosian, J.D., is President, Chief Executive Officer, Director of Lannett Company Inc. He was promoted to President of the Company in May 2002 and CEO in January of 2006. Previously, he served as the Company’s Vice President of Business Development from January 2002 to April 2002. Mr. Bedrosian was elected as a Director in February 2000 and served to January 2002. Mr. Bedrosian was re-elected a Director in January 2006. Mr. Bedrosian has operated generic drug manufacturing, sales, and marketing businesses in the healthcare industry for many years. Prior to joining the Company, from 1999 to 2001, Mr. Bedrosian served as President and Chief Executive Officer of Trinity Laboratories, Inc., a medical device and drug manufacturer. Mr. Bedrosian also operated Pharmaceutical Ventures Ltd, a healthcare consultancy, Pharmeral, Inc. a drug representation company selling generic drugs, and Interal Corporation, a computer consultancy to Fortune 100 companies. Mr. Bedrosian holds a Bachelor of Arts Degree in Political Science from Queens College of the City University of New York and a Juris Doctorate from Newport University in California.

Martin Galvan

 Mr. Martin P. Galvan, CPA, is Chief Financial Officer, Vice President - Finance, Treasurer of Lannett Company Inc. He was appointed as the Company’s Vice President of Finance and Chief Financial Officer in August 2011. He was also named as Company Treasurer in October 2012. Most recently, he was Chief Financial Officer of CardioNet, Inc., a medical technology and service company. From 2001 to 2007, Mr. Galvan was employed by Viasys Healthcare Inc., a healthcare technology company that was acquired by Cardinal Health, Inc. in June 2007. Prior to the acquisition, he served as Executive Vice President, Chief Financial Officer and Director Investor Relations. From 1999 to 2001, Mr. Galvan served as Chief Financial Officer of Rodel, Inc., a precision surface technologies company in the semiconductor industry. From 1979 to 1998, Mr. Galvan held several positions with Rhone-Poulenc Rorer Inc., a pharmaceutical company, including Vice President, Finance — The Americas; President & General Manager, RPR Mexico & Central America; Vice President, Finance, Europe/Asia Pacific; and Chief Financial Officer, United Kingdom & Ireland. Mr. Galvan began his career with the international accounting firm Ernst & Young LLP. He earned a Bachelor of Arts degree in economics from Rutgers University and is a member of the American Institute of Certified Public Accountants.

William Schreck

 Mr. William F. Schreck is Chief Operating Officer of Lannett Company Inc. Mr. Schreck joined the Company in January 2003 as Materials Manager. In May 2004, he was promoted to Vice President of Logistics. In August 2009, Mr. Schreck was promoted to Senior Vice President and General Manager. In January 2011, Mr. Schreck was promoted to Chief Operating Officer. Prior to this, from 1999 to 2001, he served as Vice President of Operations at Nature’s Products, Inc., an international nutritional and over-the-counter drug product manufacturing and distribution company. From 2001 to 2002 he served as an independent consultant for various companies. Mr. Schreck’s prior experience also includes comprehensive executive management positions at Ivax Pharmaceuticals, Inc., a division of Ivax Corporation, Zenith-Goldline Laboratories and Rugby-Darby Group Companies, Inc. Mr. Schreck has a Bachelor of Arts Degree from Hofstra University.

Robert Ehlinger

 Mr. Robert Ehlinger is Vice President - Logistics, Chief Information Officer of Lannett Company Inc. In June 2011, Mr. Ehlinger was promoted to Vice President of Logistics and Chief Information Officer. Prior to joining Lannett, Mr. Ehlinger was the Vice President of Information Technology at MedQuist, Inc., a healthcare services provider, where his career spanned 10 years in progressive operational and technology roles. Prior to MedQuist, Mr. Ehlinger was with Kennedy Health Systems as their Corporate Director of Information Technology supporting acute care and ambulatory care health information systems and biomedical support services. Earlier on, Mr. Ehlinger was with Dowty Communications where he held various technical and operational support roles prior to assuming the role of International Distribution Sales Executive managing the Latin America sales distribution channels. Mr. Ehlinger received a Bachelor’s of Arts degree in Physics from Gettysburg College in Gettysburg, PA.

Ernest Sabo

 Mr. Ernest J. Sabo is Vice President - Regulatory Affairs, Chief Compliance Officer of Lannett Company Inc. Mr. Sabo joined the Company in March 2005 as Director of Quality Assurance. In May 2008, Mr. Sabo was promoted to Vice President of Regulatory Affairs and Chief Compliance Officer. Prior to this, he served at Wyeth Pharmaceuticals as Manager of QA Compliance from 2001 to 2003 and as Associate Director of QA Compliance from 2003 to 2005. Mr. Sabo held former positions as Director of Validation, Quality Assurance, Quality Control and R&D at Delavau/Accucorp, Inc. from 1993 thru 2001. He has over 30 years of experience in the pharmaceutical industry, his background spans from Quality Assurance, Quality Control, Cleaning/Process Validation and Manufacturing turn-key operations. Mr. Sabo holds a Bachelor of Arts in Biology from Trenton State College (now known as The College of New Jersey).

Kevin Smith

 Mr. Kevin R. Smith is Vice President - Sales and Marketing of Lannett Company Inc., since January 2002. Prior to this, from 2000 to 2001, he served as Director of National Accounts for Bi-Coastal Pharmaceutical, Inc., a pharmaceutical sales representation company. Prior to this, from 1999 to 2000, he served as National Accounts Manager for Mova Laboratories Inc., a pharmaceutical manufacturer. Prior to this, from 1991 to 1999, Mr. Smith served as National Sales Manager at Sidmak Laboratories, a pharmaceutical manufacturer. Mr. Smith has experience in the generic sales market, and has a network of customers, including retail chain pharmacies, wholesale distributors, mail-order wholesalers and generic distributors. Mr. Smith has a Bachelor of Science Degree in Business Administration from Gettysburg College.

David Drabik

 Mr. David Drabik is Independent Director of Lannett Company Inc., since January 2011. Mr. Drabik is a National Association of Corporate Directors Governance Fellow. Since 2002, Mr. Drabik has been President of Cranbrook & Co., LLC (“Cranbrook”), an advisory firm primarily serving the private equity and venture capital community. At Cranbrook, Mr. Drabik assists and advises its clientele on originating, structuring, and executing private equity and venture capital transactions. From 1992 to 1995, Mr. Drabik was a banker with Union Bank of Switzerland’s Corporate and Institutional Banking division in New York City. Mr. Drabik graduated from the University of Michigan with a Bachelors of Business Administration degree.

Kenneth Sinclair

 Dr. Kenneth Sinclair, Ph.D., is Independent Director of Lannett Company Inc., since September 2005. Dr. Sinclair is currently Professor of Accounting and Senior Advisor to the College of Business and Economics Dean at Lehigh University, where he began his academic career in 1972. Dr. Sinclair had served as Chair of Lehigh’s Accounting Department from 1988 to 1994 and 1998 to 2007. He has taught a variety of accounting courses, including financial and managerial accounting at both the undergraduate and graduate level. He has been recognized for his teaching innovation, held leadership positions with professional accounting organizations and served on numerous academic and advisory committees. He has received a number of awards and honors for teaching and service, and has researched and written on a myriad of subjects related to accounting. He has also been heavily involved with strategic planning at both the College and Department level at Lehigh. Dr. Sinclair earned a Bachelor of Business Administration degree in Accounting, a Master of Science degree in Accounting and a Doctorate Degree in Business Administration with a concentration in Accounting from the University of Massachusetts.

Paul Taveira

 Mr. Paul Taveira serves as Independent Director of Lannett Company Inc., since May 9, 2012. Mr. Taveira has been Chief Executive Officer of A&D Environmental Services Inc., an environmental and industrial services company, since 2009. He currently serves on their Board of Directors. From 2007 to 2009, Mr. Taveira was a Managing Partner of Precision Source LLC, a manufacturer of precision parts for various industries across the United States. From 1997 to 2007, Mr. Taveira held several positions at PSC Inc., a national provider of environmental services, including President, Vice President and Regional General Manager. From 1987 to 1997, Mr. Taveira held several management positions with Clean Harbors Inc., an international provider of environmental and energy services. Mr. Taveira graduated from Worcester State University with a Bachelor of Science degree in Biology.

Basic Compensation

Name Fiscal Year Total

Jeffrey Farber

 --

William Farber

 44,000

Arthur Bedrosian

 838,111

Martin Galvan

 474,134

William Schreck

 589,875

Robert Ehlinger

 412,819

Ernest Sabo

 171,693

Kevin Smith

 429,899

David Drabik

 --

Kenneth Sinclair

 --

Paul Taveira

 --
As Of 29 Jun 2012

Options Compensation

Name Options Value

Jeffrey Farber

 22,500 0

William Farber

 87,500 0

Arthur Bedrosian

 232,900 26,280

Martin Galvan

 0 0

William Schreck

 44,745 10,920

Robert Ehlinger

 0 0

Ernest Sabo

 0 0

Kevin Smith

 108,760 10,920

David Drabik

 0 0

Kenneth Sinclair

 0 0

Paul Taveira

 0 0

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