RESEARCH TRIANGLE PARK, N.C., Oct. 24, 2006 -- Sue W. Cole, an executive with more than 30 years of experience in the financial services industry, has been elected chairwoman of the North Carolina Biotechnology Center's Board of Directors.
"I'm honored to serve as chairwoman of this organization because biotechnology is extremely important to North Carolina's economy and quality of life," Cole said. "Biotechnology integrates many of our state's treasured assets, including our university system, community colleges and entrepreneurial spirit. The Biotechnology Center, with its five regional offices now in place, is well positioned to leverage these assets for job creation and economic growth in all parts of the state."
Cole succeeds Dr. Robert Timmins, retired chief executive officer of Durham-based Organon Teknika (now bioMerieux), who was board chairman from 2002 to 2006, and earlier from 1992 to 1998. Timmins continues to serve on the board's executive committee.
"I'm looking forward to working with Sue Cole, who continues our long history of excellent board leadership embodied by Bob Timmins and others who served before him," said Leslie Alexandre, president and CEO of the Biotechnology Center. "Sue's extensive experience in finance and economic development, and her strong connections to the state's business community, will help us stimulate economic development and job creation across North Carolina."
Cole is a principal of Greensboro-based Granville Capital Inc., a registered investment advisor with specialized expertise in hedge funds. Prior to joining Granville Capital in July 2006, she was the regional CEO for the Mid-Atlantic Region of United States Trust Company, responsible for the overall strategic direction, growth, and leadership of the company's four offices in North Carolina and Washington, D.C.
She joined the predecessor to U.S. Trust --North Carolina Trust Company-- in 1987 as an executive vice president and was promoted to president in 1997, chief executive officer for North Carolina in 2001, and regional CEO for the Mid-Atlantic Region in 2003. Previously, she was a senior vice president at NCNB,where she was responsible for corporate banking services in the Greensboro area and managed the retail branch system.
Cole currently serves as a director and chairwoman emeritus for N.C. Citizens for Business and Industry; and as a director for the Marion Covington Foundation and the Tannenbaum-Sternberger Foundation. In addition, she serves on the board of directors of Unifi Inc. and Martin Marietta Materials Inc.
Cole has a bachelor's degree in business administration and a master's degree in finance from the University of North Carolina at Greensboro. She and her husband, Gordon, live in Greensboro. They have two daughters and one grandson.
In addition to electing Cole chairwoman, the board elected Norris Tolson vice chairman, John Atkins treasurer, and Jack Cecil secretary. Tolson is secretary of the N.C. Department of Revenue in Raleigh, Atkins is president and CEO of O'Brien/Atkins Associates, PA, in Durham, and Cecil is president of Biltmore Farms Inc. in Asheville.
All of the board officers' terms are for one year but can be renewed by the board.
The Biotechnology Center, headquartered in Research Triangle Park with regional offices in Asheville, Charlotte, Greenville, Wilmington and Winston-Salem, is a private, non-profit corporation supported by the General Assembly. Its mission is to provide long-term economic and societal benefits to North Carolina by supporting biotechnology research, business and education statewide.
North Carolina is the nation's No. 3 state in biotechnology, based on number of companies, according to Ernst and Young. About 350 bioscience companies employ 48,000 people in the state, according to the Biotechnology Center's online companies database, BioSciNC.
Contact: Barry Teater, director of corporate communications, or Jim Shamp, news and publications editor, both of the North Carolina Biotechnology Center, 919-541-9366.
