Sue Cole Elected Board Chairwoman of North Carolina Biotechnology Center

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Sue Cole Elected Board Chairwoman of North Carolina Biotechnology Center
  Greensboro resident brings financial, economic development experience to
                                    post

    RESEARCH TRIANGLE PARK, N.C., Oct. 25 /PRNewswire-FirstCall/ -- 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. He 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 (NCCBI); 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 & Young. About 350 bioscience
companies employ 48,000 people in the state, according to the Biotechnology
Center's online companies database, BioSciNC.
    Visit the Biotechnology Center's Web site at http://www.ncbiotech.org.
SOURCE North Carolina Biotechnology Center
http://www.ncbiotech.org/
CONTACT:
Barry Teater, director of corporate
communications, or Jim Shamp, news and publications editor, both
of the North Carolina Biotechnology Center, +1-919-541-9366