Quotient Limited Announces Christian Albrich as Chief People Officer

Rhea-AI Summary

Quotient Limited (NASDAQ:QTNT) has appointed Christian Albrich as Chief People Officer. Albrich, previously with Galderma and Actelion Pharmaceuticals, will play a crucial role in transforming Quotient from a development-focused to a commercially driven organization. His compensation package includes 60,169 performance-based restricted share units and options for shares, contingent on achieving specific financial targets. Quotient aims to enhance its transfusion diagnostics capabilities through its proprietary MosaiQ technology, promising improved efficiencies and cost savings in laboratory testing.

Positive

• Appointment of a seasoned HR professional, Christian Albrich, expected to enhance the company's growth trajectory.
• MosaiQ technology aims to reshape diagnostics, increasing efficiencies and operational savings for laboratories.

Negative

• None.

JERSEY, Channel Islands, Sept. 01, 2021 (GLOBE NEWSWIRE) -- Quotient Limited (NASDAQ:QTNT), a commercial-stage diagnostics company (Quotient or the Company), headquartered in Eysins, Switzerland, today announced that Christian Albrich has been appointed as Chief People Officer of the Company and will begin serving in that role as of today.

"I am delighted Christian joined Quotient to be part of our journey into transfusion diagnostics and beyond. Christian will be instrumental in the transformation of a development focused company to a commercial minded organization," said Manuel O. Méndez, Chief Executive Officer of Quotient.

Mr. Albrich joins Quotient from Galderma where he served as their Chief Human Resources Officer. Previously, he spent 20 years with Actelion Pharmaceuticals, now a Janssen Pharmaceutical company of Johnson & Johnson, where he served as the Senior Vice President and Head of Global Human Resources. He joined Actelion at the start-up phase and built up the Human Resources function to support the rapid growth of the company.

In connection with his appointment, the Company granted Mr. Albrich 60,169 performance-based restricted share units (PSUs) (the Sign-On PSUs), 36,102 Restricted Stock Units (RSUs) (the Sign-On RSUs) and share options to purchase 36,813 of the Company’s ordinary shares (the Sign-On Options). Such grants were issued outside of the Company’s 2014 Stock Incentive Plan and were approved by the Company’s Board of Directors and the Remuneration Committee of the Board of Directors pursuant to the inducement grant exception under the Nasdaq Rule 563(c)(4), as an inducement that is material to Mr. Albrich’s joining the Company as the Chief People Officer.

The Sign-On PSUs will vest on the third anniversary of the grant date, provided specific performance criteria have been met. These performance criteria include the Company achieving certain financial targets. The Sign-On RSUs will vest in three equal installments on each of the first, second and third anniversaries of the grant date. The Sign-On Options will also vest in three equal installments on each of the first, second and third anniversaries of the grant date. The vesting of the awards will be subject to Mr. Albrich’s continued service as the Chief People Officer of the Company on each applicable vesting date.

About Quotient Limited

Building on over 30 years of experience in transfusion diagnostics, Quotient is a commercial-stage diagnostics company committed to delivering solutions that reshape the way diagnostics is practiced. MosaiQ, Quotient’s proprietary multiplex microarray technology, offers the world’s first fully automated, consolidated testing platform, allowing for multiple tests across different modalities. MosaiQ is designed to be a game-changing solution, which Quotient believes will increase efficiencies, improve clinical practice, deliver significant workflow improvements, and create operational cost savings to laboratories around the world. Quotient's operations are based in Eysins, Switzerland, Edinburgh, Scotland and Newtown, Pennsylvania.

The Quotient logo, Quotient MosaiQ and MosaiQ are registered trademarks or trademarks of Quotient Limited and its subsidiaries in various jurisdictions.

CONTACT: Peter Buhler, Chief Financial Officer – peter.buhler@quotientbd.com; +41 22 545 52 26

FAQ

Who has been appointed as Chief People Officer at Quotient Limited?

Christian Albrich has been appointed as Chief People Officer at Quotient Limited.

What financial incentives were given to Christian Albrich upon his appointment?

Christian Albrich received 60,169 performance-based restricted share units, 36,102 restricted stock units, and options for 36,813 shares.

What is the significance of Quotient's MosaiQ technology?

MosaiQ technology is designed to significantly improve efficiencies and reduce operational costs in laboratory diagnostics.

What previous experience does Christian Albrich bring to Quotient Limited?

Christian Albrich has extensive experience from Galderma and Actelion Pharmaceuticals, where he was instrumental in HR functions during periods of rapid growth.