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Avid Bioservices Appoints CFO

Daniel Hart will be responsible for overseeing and managing all of Avid’s accounting and finance responsibilities

Avid Bioservices announced the appointment of Daniel Hart as chief financial officer.  Mr. Hart is a highly accomplished financial professional with two decades of experience in senior level positions with public and private companies spanning such areas as financial stewardship, accounting, and fundraising strategy, among others.  In his role as chief financial officer, he will be responsible for overseeing and managing all of Avid’s accounting and finance responsibilities.
 
Mr. Hart most recently served as chief financial officer of ENO Holdings, Inc., a family of companies focused on the residential real estate market with offerings spanning brokerage, franchisor, property management, title and escrow services.  While with ENO Holdings, he helped optimize the group’s accounting and finance department with a focus on establishing repeatable processes in the areas of financial statements, operating plans, cash forecasts and organization budgets.  Prior to that position, Mr. Hart served as senior vice president, chief financial officer, and assistant secretary at SM&A, a $100 million private equity owned management consulting firm that was previously a Nasdaq-listed company. 


In addition, Avid also announced the appointment of Michael Faughnan as the company’s senior director of business development for the western region.  Mr. Faughnan has more than 18 years of relevant biotechnology industry experience, including tenures with CDMO industry leaders such as WuXi Biologics, Abzena, Lonza Biologics, Eden Biodesign and Cytovance Biologics.  He most recently was senior director of business development at WuXi Biologics, where he oversaw the west coast sales team which established record sales figures under his leadership.  
 
“With Dan joining our team, we have added a talented and experienced individual with all the critical skills required for stewarding the financial activities of a growing public company.  As we continue to aggressively focus our efforts on growing and diversifying our client base, Dan’s expertise in executing financial strategies that positively impact bottom-line results will prove valuable,” said Roger Lias, Ph.D., Avid’s president and chief executive officer. “We are also pleased to bring Mike on board to oversee our business development efforts in the western portion of the country and Canada  He will team with Sandra Carbonneau, our recently appointed director of business development for the east coast, to drive our comprehensive, nationwide new business acquisition effort.”

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