Stem Cell Therapeutics Corp. (SCT) has appointed Barry Herring as its new vice president (VP) of finance and chief financial officer (CFO), effective January 1, 2009. Mark Wayne has resigned as CFO but will remain on the board of directors of the company as chairman. Herring has 25 years experience as an accounting executive for companies in Canada and the US. He has been a senior executive in public and private corporations within the energy and mining sector.
Prior to joining this, Herring served as president, CFO and director of Atlas Minerals Inc. Prior there to he was the CFO of Velo Energy Ltd. He has served as VP of finance and CFO for the following companies, TerraWest Energy Corp., Hawker Resources Inc., and Southward Energy Ltd.
Herring became a chartered accountant in 1983 from the Institute of Chartered Accountants of Alberta. He started his career in accounting in 1981 at Price Waterhouse. In 1987, Herring joined Oakwood Petroleum and worked as a corporate accountant until joining Calpine Natural Gas Ltd. in 1989 where he held increasingly senior positions until his departure in 2001.
Additionally to his corporate experience, Herring has taught accounting and tax at the post secondary level and chaired several committees on Information Systems development and implementation.
Dr. Alan Moore, president and chief executive officer of SCT commented as follows:
We are very excited to add Mr. Barry Herring to the SCT executive team. I feel his knowledge and expertise in finance as well as his experience with start-up companies will be a great asset to the Company.
SCT has issued 800,000 stock options to Herring at an exercise price of CAD0.10 per share in connection with his appointment to the Executive team. These options will expire no later than January 1, 2014 subject to applicable vesting provisions. These options were awarded in accordance with the Corporations Stock Option Plan.