The newly elected chairman of the NIRI board of directors, Derek Cole, says his top priority for his one-year term will be to initiate implementation of the NIRI strategic plan, due to be voted on and released by the end of this year.
Cole is vice president of IR and corporate communications for ARCA biopharma in Broomfield, Colorado. He will succeed Doug Wilburne, vice president of IR at Textron, at the upcoming NIRI annual meeting in November.
Citing both the practical education and professional networking benefits, Cole says his NIRI experience has been invaluable. ‘I think I’m a smart guy and I work hard, but I realise I would not have had the success I’ve enjoyed without NIRI,’ he says.
A graduate of the US Air Force Academy, where he studied economics and finance, Cole has worked in IR and corporate communications for 14 years in both public and private companies. His experience covers the biotech and real estate sectors, and has involved two IPOs and several M&A transactions.
Cole enters the role of incoming NIRI chair at a time of sweeping regulatory and market structure change. As an example, he points to algorithmic trading that ‘creates lots of noise.’
IR should help senior management navigate through the noise, Cole says, to focus on actionable market information. ‘IROs need to be clear about the importance of the long-term valuation of their companies,’ he adds.
Cole is currently chair of NIRI’s working group on financial disclosure and a past president of the NIRI Rocky Mountain chapter. He also serves on the board of directors of the Colorado BioScience Association.
[Article by Brad Allen, Inside Investor Relations]