GAITHERSBURG, Md., Jun 18, 2014 (GLOBE NEWSWIRE via COMTEX) --
Novavax, Inc. NVAX +0.21% , a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants, today announced that on June 12, 2014, the Honorable John O. Marsh, Jr., resigned as a member of its Board of Directors. Mr. Marsh joined the Board of Novavax in August 1991 and served as the company's interim CEO and Chairman of the Board from 1996 to 1997. At various times during his 23 years as a Board member, he has served on all of the Board's various committees. According to company records kept since 2005, Jack's attendance rate at Board meetings was in excess of 90%; Mr. Marsh has attended every board of directors meeting in person or by telephone since 2010. In recognition of his 23 years of service, the Board of Directors has named Mr. Marsh Director Emeritus.
A lifetime resident of Virginia, Mr. Marsh served in the U.S. Army during World War II and continued with the Army Reserve and Army National Guard into the 1960s. A graduate of Washington and Lee University Law School, Mr. Marsh began practicing law in 1952 in a variety of state and municipal roles. From 1963 until 1971 he served as a member of the U.S. House of Representatives. In 1973, he was appointed Assistant Secretary of Defense, and in January 1974, became the National Security Advisor for then Vice President Gerald Ford. He subsequently became President Ford's cabinet-ranking Counsellor to the President. In 1981, Mr. Marsh was appointed Secretary of the Army by President Ronald Reagan where he served until 1989. Mr. Marsh has been awarded the Department of Defense Distinguished Public Service Award on six occasions and was awarded the Presidential Citizens Medal from President Reagan. Mr. Marsh has been a Professor of Law and Ethics at various institutions including the Virginia Military Institute, the College of William & Mary, and George Mason University. He currently resides in Winchester, Virginia with his wife.
"Jack's legacy as a board member of Novavax cannot be underestimated. His leadership at this company paved the way for our recent years of successful vaccine development," stated Stanley C. Erck, President and CEO. "Jack's enthusiasm for the company's business and his continued presence on the Board through some very difficult early years has allowed Novavax to become a leading recombinant vaccine development company and to make sustained progress in our development of important recombinant vaccine candidates. I am delighted that Jack has agreed to serve as a director emeritus to the Board where he can continue to mentor and advise the other members of the Board, as well as our senior management team."
Chairman of the Board James F. Young, Ph.D. stated, "I am honored and privileged to have served on the Novavax Board of Directors with Jack Marsh. Over the last four years, I have learned a great deal about the company's history and about boardroom decision-making and diplomacy, witnessing Jack's firm and confident presence in our boardroom. I am proud to call Jack a friend, and I look forward to working with him in the future."
Novavax, Inc. NVAX +0.21% is a clinical-stage biopharmaceutical company creating vaccines and vaccine adjuvants to address a broad range of infectious diseases worldwide. Using innovative proprietary recombinant nanoparticle vaccine technology, the company produces vaccine candidates to efficiently and effectively respond to both known and newly emergent diseases.