U of S : Communications : OCN : Sep 5, 1997

This summer, Dr. Simon Wood left his position as president and CEO of UST Inc., having begun the position in January of 1997.

Prior to his appointment at the U of S, he held a number of marketing positions in the private sector.

Dr. Tony Whitworth, vice-president (finance & administration), says the loss of Wood, who has re-located in Victoria, constitutes "a temporary setback" for UST Inc., which aims to promote the economic development of the city and the province.

The immediate task of the UST Inc. Board, he adds, is to find an interim manager for UST Inc. and to begin the search for a new CEO.

The role of UST Inc., which receives funding through government and corporate sector grants, is to assess the patentability of work done by U of S researchers and to find companies or individuals who may be interested in commercially licensing the technology in question.

"UST Inc. has the potential to serve an increasing demand from the University community to take intellectual property to market," Whitworth adds.

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