Safeguard Scientifics Announces Resignation of James A. Datin
WAYNE, Pa. -- June 27, 2013
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 Safeguard’s 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 Safeguard’s 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 (NASDAQ:PATH), Sotera Wireless and NovaSom in the capacity of a
About Safeguard Scientifics
Founded in 1953 and based in Wayne, Pa., Safeguard Scientifics, Inc.
(NYSE:SFE) 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
LinkedIn: Safeguard Scientifics
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 Safeguard’s
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 Company’s ability to predict or control. As a result of these and
other factors, the Company’s 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
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