Prenetics Welcomes Kathyrn M. Henry and David Vanderveen to Board of Directors

Rhea-AI Summary

Prenetics Global (NASDAQ: PRE) has announced the addition of Kathryn M. Henry and David Vanderveen to its Board of Directors. This strategic move comes as Prenetics prepares to expand into the consumer health and wellness sector. CEO Danny Yeung believes that the extensive expertise of Henry and Vanderveen in consumer and health sectors will significantly enhance shareholder value. Henry brings experience from her roles at Lululemon and Gap, particularly in global information and technology operations. Vanderveen, with a robust 30-year track record in the beverage, nutrition, and technology sectors, is expected to contribute significantly to Prenetics' ambitious goals. Both directors expressed enthusiasm about their new roles and the company's potential for market disruption.

Positive

• Kathryn M. Henry's extensive experience in leading global information and technology operations, particularly in consumer retail and technology sectors, aligns with Prenetics’ strategic positioning.
• David Vanderveen's 30-year successful track record in beverage, nutrition, and technology sectors, and his proven leadership in driving global expansion and operational excellence, will benefit Prenetics.
• The combined expertise of Henry and Vanderveen is expected to enhance shareholder value as Prenetics expands into the consumer health and wellness sector.

Negative

• None.

Adding Decades of Public Company and Board Expertise as Prenetics Readies for Expansion into Consumer Health and Wellness

LOS ANGELES, July 01, 2024 (GLOBE NEWSWIRE) -- Prenetics Global Limited (NASDAQ: PRE) (“Prenetics” or the “Company”), a leading health sciences company, welcomes Kathryn M. Henry and David Vanderveen as independent directors to the Company’s Board of Directors.

“We are excited to welcome Kathryn and David to Prenetics’ Board of Directors at this pivotal juncture,” said Danny Yeung, CEO of Prenetics. “Their unparalleled expertise in consumer and health sectors, combined with their proven leadership in driving global expansion and operational excellence, will significantly enhance shareholder value as we expand into consumer health and wellness.”

"I am thrilled to join Prenetics at such a pivotal moment," said Kathryn Henry. "I look forward to contributing to the company's growth and leveraging my experience to help drive its expansion into the consumer health and wellness sector."

"I am incredibly impressed by Prenetics' comprehensive approach to consumer health and wellness," said David Vanderveen. "I am confident our strategy will significantly disrupt the market and look forward to leveraging my experience in helping Prenetics achieve its ambitious goals."

Kathyrn M. Henry

Ms. Henry’s extensive experience in leading global information and technology operations, especially in consumer retail and technology sectors, aligns perfectly with Prenetics' strategic positioning into consumer health and wellness.

Ms. Henry is currently an independent director at Lululemon, where she has been a board member for more than 8 years and serves as a member of the Audit & Compensation Committee.

Ms. Henry previously served as Chief Information Officer, Logistics & Distribution at Lululemon from 2010 to 2014, where she oversaw all global information and technology operations for the company.

Prior to joining Lululemon in 2010, Ms. Henry worked at Gap, Inc., where she served as Vice President and Chief Information Officer of International IT and Gap North America.

David Vanderveen

Mr. Vanderveen’s extensive experience in the beverage, nutrition, and technology sectors, along with his proven track record, aligns seamlessly with Prenetics’ strategic positioning into consumer health and wellness.

Mr. Vanderveen has had a successful 30-year track record in beverage, nutrition, and technology, at both private and public companies. From 2022 until recently, he was CEO of Nirvana Water Sciences, where he developed a team of functional beverage and supplement experts to transform the brand, product portfolio, go-to-market strategy, and execution of the business.

From 2002 to 2015, Mr. Vanderveen was the founder and CEO of XS Worldwide, a company with a portfolio of energy drinks and nutrition products. XS partnered with Amway Corporation, reaching annual sales over $400 million, in more than 60 countries. XS was sold to Amway in 2015, where Mr. Vanderveen served as Global General Manager for XS, achieving maximum earn-out through 2018.

About Prenetics

Prenetics (NASDAQ:PRE), a leading health sciences company, is revolutionizing prevention, early detection, and treatment. Our prevention arm, CircleDNA, uses whole exome sequencing to offer the world's most comprehensive consumer DNA test. Insighta, our $200 million joint venture with renowned scientist Prof. Dennis Lo, underscores our unwavering commitment to saving lives through pioneering multi-cancer early detection technologies. Lastly, our treatment unit, ACT Genomics, has achieved FDA clearance for comprehensive genomic profiling of solid tumors through its ACTOnco platform. Each of Prenetics' units synergistically enhances our global impact on health, truly embodying our commitment to 'enhancing life through science’. To learn more about Prenetics, please visit www.prenetics.com.

Forward-Looking Statements

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's goals, targets, projections, outlooks, beliefs, expectations, strategy, plans, objectives of management for future operations of the Company, and growth opportunities are forward-looking statements. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of the Company, which involve inherent risks and uncertainties, therefore they should not be relied upon as being necessarily indicative of future results. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to: the Company’s ability to further develop and grow its business, including new products and services; its ability to execute on its new business strategy in genomics, precision oncology, and specifically, early detection for cancer; the results of case control studies and/or clinical trials; and its ability to identify and execute on M&A opportunities, especially in precision oncology. In addition to the foregoing factors, you should also carefully consider the other risks and uncertainties described in the “Risk Factors” section of the Company’s most recent registration statement and the prospectus therein, and the other documents filed by the Company from time to time with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Investor Relations Contact:
investors@prenetics.com
PRE@mzgroup.us

FAQ

Who are the new members added to Prenetics' Board of Directors?

Kathryn M. Henry and David Vanderveen have been added to Prenetics' Board of Directors.

What is the significance of Kathryn M. Henry joining Prenetics' Board?

Kathryn M. Henry's experience in global information and technology operations, particularly in consumer retail and technology sectors, is expected to support Prenetics' expansion into consumer health and wellness.

What is David Vanderveen's background and how does it benefit Prenetics?

David Vanderveen has a 30-year track record in the beverage, nutrition, and technology sectors, and his leadership in global expansion and operational excellence aligns with Prenetics' strategic goals.

When did Prenetics announce the addition of new board members?

Prenetics announced the addition of Kathryn M. Henry and David Vanderveen to its Board of Directors on July 01, 2024.

Why is Prenetics expanding into the consumer health and wellness sector?

Prenetics is expanding into the consumer health and wellness sector to leverage the expertise of new board members and to enhance shareholder value by tapping into a growing market.