INCLINE VILLAGE, Nev., Jan. 25, 2011 /PRNewswire/ — PDL
BioPharma, Inc. (PDL) (Nasdaq:
PDLI) today announced the appointment of Caroline Krumel, CPA
to the position of vice president of finance and chief accounting
officer, effective January 31, 2011. Ms. Krumel will replace Karen
Wilson, who is leaving PDL to return to California.
“Caroline brings over 15 years of experience spearheading all
financial functions in a variety of private and public companies,”
said John McLaughlin, president and chief executive officer of PDL
BioPharma. “Her financial acumen within agile corporate
environments coupled with her knowledge of financial and accounting
procedures make her an ideal fit for PDL as we manage our royalty
assets and evaluate additional royalty purchase opportunities.”
Before joining the Company, Ms. Krumel most recently served as
Vice President, Finance from 2007 to 2010 at VaxGen Inc., a public
company focused on the development of vaccinations until a merger
transaction with diaDexus, Inc. in 2010. From 2006 to 2007, Ms.
Krumel worked for Frank, Rimerman + Co. LLP, one of the largest
locally-owned providers of accounting and consulting services in
Northern California, where she delivered accounting services for
various companies. Prior to 2006, Ms. Krumel worked at Santa Clara
University in the Department of Accounting (academic), where she
was instrumental in increasing student enrollment in the
department’s advanced accounting certificate program. Ms.
Krumel is a certified public accountant and holds a Master of
Public Management from the University of Maryland at College Park
and a Bachelor of Arts in Political Science with honors from the
University of North Carolina at Chapel Hill.
“On behalf of PDL,” John McLaughlin said, “I want to thank Karen
for her numerous contributions and wish her continued success in
her future ventures.” Ms. Wilson,