CHAD appoints new president/CEO

Sunday, April 11, 2004

April 12, 2004

CHATSWORTH, Calif. - Earl L. Yager, currently CHAD Therapeutics president, chief financial officer and secretary, has been named president and chief executive officer.  Yager succeeds Thomas E. Jones, who had been CEO since 1998 and who will remain as chairman of the board.  The company also announced that Tracy Kern has been promoted to CFO, succeeding Yager at that position.
Yager has been president of CHAD  since January 1, 2003, COO from September 2000 through December 2002, CFO since 1983 and a director and secretary since 1988.  He is a certified public accountant.
Said Jones: "Earl has repeatedly demonstrated his leadership and effectiveness in managing the business.  He has made critical contributions to our strategy to enhance CHAD's leadership in the conserver segment of the oxygen therapy market and to enter new growth markets in oxygen therapy and related fields.  His efforts to increase manufacturing efficiency, improve margins and reduce costs also have met with success.  With Earl's steady hand at the helm, I plan to devote myself to the development of additional marketing, partnering, and new product opportunities for CHAD."
Kern had been Cost Accounting Manager since she joined CHAD in January 2003.  From 1997 to 2002, she served in various positions with KPMG LLP, most recently as Audit Manager, where she executed and managed audit engagements with responsibility for client relationships.  Kern has completed all requirements for the CPA and her license is pending.