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Sources: Ron Trewyn, 785-532-5110, trewyn@k-state.edu
News release prepared by: Cheryl May, 785-532-6415; may@k-state.edu

Wednesday, July 1, 2009

NISTAC BOARD CHAIR PLANS ADDITIONAL REVIEWS

MANHATTAN -- The board of directors of the National Institute for Strategic Technology Acquisition and Commercialization -- NISTAC -- will be asked to oversee a thorough review of matters raised in a recent exit analysis to identify any actions needed to ensure NISTAC operates within the expected highest standards of ethics and accountability, said NISTAC board chair Ron Trewyn, Kansas State University's vice president for research.

"Following the principles of 'best practices' is an ongoing process that requires continued awareness, renewal and diligence," Trewyn said. "All of us on the NISTAC board recognize the vital importance of maintaining a responsive, productive and accountable organization."

"With the recent public discussions regarding findings in the exit analysis -- some of which touch NISTAC -- I will be asking the board to establish a process to review the NISTAC-specific issues raised by Grant Thornton, the company that conducted the analysis, and to make recommendations for follow-up action by the board," Trewyn said. "Community members in addition to those already on the NISTAC board will be engaged in the review to ensure full transparency."

"Although I wasn't the chair during the period referenced in the report, I was on the NISTAC board at the time and am familiar with most of the transactions described. I take my fiduciary responsibilities very seriously as do the other members of the board and I am concerned with what I believe are substantive errors and deficiencies in the report.

"As a result, I want to ensure that a thorough, fully transparent evaluation is undertaken regarding the issues raised," Trewyn said.

 

About NISTAC:
The purpose of NISTAC is regional economic growth and prosperity through technology commercialization. NISTAC acquires and commercializes technologies from a variety of sources, particularly Kansas State University, to impact regional economy in terms of high value job creation and worldwide exports of high value products and services.

The NISTAC board includes members from the Manhattan Chamber of Commerce, City of Manhattan, Kansas Technology Enterprise Corporation, K-State employees, former state legislators, senior executives of regional companies and other Manhattan residents.