ASTROTECH PRESS RELEASE
Astrotech Corporation (NASDAQ: ASTC – News) today announced that Brian K. Harrington has resigned as Senior Vice President, Chief Financial Officer, Treasurer and Secretary effective June 04, 2009.
John Porter, Astrotech Corporationâ€™s Senior Vice President, will serve as the Companyâ€™s Interim CFO as the Company searches for Mr. Harringtonâ€™s successor.
â€œOn behalf of the Board of Directors, I express my gratitude for Mr. Harringtonâ€™s contributions to the Company and the value he has helped create for shareholders and employees as the Company has returned to profitability,â€ said Thomas B. Pickens III, Astrotechâ€™s Chairman and Chief Executive Officer.
In connection with his resignation, Mr. Harrington and the Company agreed to terminate his employment agreement, dated October 6, 2008 and the Company agreed to provide Mr. Harrington the separation benefits provided for under the employment agreement. In addition, Mr. Harrington will serve as a consultant to the Company through October 2009.