PDL BioPharma Inc (NASDAQ:PDLI) announced that the company has appointed Steffen Pietzke, CPA, to the position of controller and chief accounting officer. Mr. Pietzke officially joins the company this week.

“Steffen is an excellent addition to PDL and brings over 14 years of accounting and financial reporting experience to our team,” stated Peter Garcia, vice president and chief financial officer of PDL BioPharma. “Having recognized more than $580 million in revenues in 2014, PDL is pleased with the relevant experience that Steffen brings to our team. His experience in auditing both venture capital firms and biopharmaceutical companies with revenues and with complex financial transactions will further strengthen our finance team and support our income generating efforts.”

Mr. Pietzke joins PDL from Ernst & Young LLP (E&Y), where he held the position of senior manager since 2013. He provided audit and related financial services to both public and private companies in the U.S., Europe and China. Prior to joining E&Y, Mr. Pietzke was with PricewaterhouseCoopers LLP for more than 12 years, most recently as a senior manager. He is highly regarded at these public accounting firms for his technical expertise and was focused on specific complex areas such as revenue recognition, financial instruments, derivatives, stock-based compensation and public offerings. Mr. Pietzke is a licensed Certified Public Accountant, a member of the American Institute of Certified Public Accountants and holds a Bachelor of Business Science degree in Accounting with honors from the University of Sciences in Offenburg, Germany. (Original Source)

Shares of PDL BioPharma closed yesterday at $6.65. PDLI has a 1-year high of $10.26 and a 1-year low of $6.18. The stock’s 50-day moving average is $6.44 and its 200-day moving average is $6.86.

PDL BioPharma Inc is engaged in the discovery of a new generation of targeted treatments for cancer & immunologic diseases. It focuses on intellectual property asset management, investing in new royalty bearing assets & maximizing value of its patent.