Pressure BioSciences Inc (OTCMKTS:PBIO) has found its new chief financial officer (CFO) in finance veteran Daniel Shea.
Shea, 54, who joined the company effective September 13 this year, will also take on the role of senior vice president.
The new finance head brings more than 30 years' experience to the table. Since 2017, he has led Woodcliff Advisors LLC, a CPA advisory firm. While there, Shea filled CFO positions personally at public and private companies.
Before that, he worked for 18 years as senior vice president at Affiliated Managers Group, an asset management holding company specializing in acquisitions. He also previously advised financial services firms at PricewaterhouseCoopers.
“We are pleased to have someone with Dan’s experience and capabilities join PBI at such an important time in our corporate evolution,” CEO Richard Schumacher said in a statement. “We believe all three of our patented technology business platforms have the potential for rapid growth over the next 12-18 months, [and] we believe total revenue in 2020 will be more than double total revenue of 2019.”
“We are fortunate to have a seasoned financial professional like Dan join us at this most important time, to lead this financial transformation.”
"It’s an exciting time to join Pressure BioSciences,” added Shea. "PBI’s unique platform technologies, worldwide customer base, growing revenue stream, and strong management team position the company well to capitalize on substantial growth opportunities across the globe."
Shares of Pressure Bio increased 4.1% to $3.07 on Tuesday.
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