CANCER GENETICS, INC. (NASDAQ:CGIX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On February 13, 2017, Cancer Genetics, Inc. (the “Company”) announced the appointment of Igor Gitelman, CPA, MBA, age 41, as the Company’s new principal accounting officer (Chief Accounting Officer). The appointment follows a departure of Victor Cross, who vacated the position for family reasons unrelated to the Company or his performance. Mr. Cross was promoted to this position on January 6, 2017.

Prior to joining the Company, Mr. Gitelman served as an AVP of Finance and Tax at clinical diagnostic laboratory, BioReference Laboratories, Inc., from October 2005 to October 2016. During this time, Mr. Gitelman held various positions of increasing responsibility managing the company’s internal audit function, SEC financial reporting, tax and corporate finance functions as well as leading the finance team through numerous mergers and acquisitions while managing the organic growth that BioReference experienced in this time-period. Prior to that role, Mr. Gitelman was a senior manager of tax and financial reporting at Gucci Group from May 2003 to May 2005 where he managed all aspects of the company’s tax planning, compliance and audits on federal, state and international levels as well as the company’s tax accounting function. Mr. Gitelman worked as a senior intermediate accountant at UBS Painewebber from May 2000 to April 2003, and, prior to that position, Mr. Gitelman worked as an associate at PricewaterhouseCoopers, LLP from May 1998 to July 1999 serving as a consultant on various clients from July 1999 to May 2000. Mr. Gitelman holds a BBA and an MBA degree in accounting form Pace University’s Lubin School of Business. Mr. Gitelman is a Certified Public Accountant.

Mr. Gitelman is a highly competent financial manager with a long track record of enterprise wide profitability maximization, business acumen and building shareholder value. The Company believes he will be a valuable addition to our senior leadership team and beneficial in supporting the Company’s continued growth.

to the terms of his offer letter, Mr. Gitelman will receive an annual base salary of $190,000 and is eligible for an annual cash bonus of up to 15% of his base salary. It is anticipated that Mr. Gitelman will receive 15,000 stock options which will vest in equal monthly increments over the subsequent 48 calendar months.

About CANCER GENETICS, INC. (NASDAQ:CGIX)
Cancer Genetics, Inc. is engaged in the field of personalized medicine, enabling precision medicine in the field of oncology through its diagnostic products and services, and molecular markers. The Company develops, commercializes and provides molecular- and biomarker-based tests and services that enable physicians to personalize the clinical management of each individual patient by providing genomic information to diagnose, monitor and inform cancer treatment, and enable biopharmaceutical companies engaged in oncology trials to select candidate populations and manage adverse drug reactions by providing information regarding genomic factors influencing subject responses to therapeutics. It has a range of disease-focused oncology testing portfolio. Its molecular- and biomarker-based diagnostic services are provided for three sectors: cancer centers and hospitals, biotechnology and biopharmaceutical companies, and the research community. CANCER GENETICS, INC. (NASDAQ:CGIX) Recent Trading Information
CANCER GENETICS, INC. (NASDAQ:CGIX) closed its last trading session up +0.10 at 2.45 with 500,257 shares trading hands.