"Carl is committed to driving Peregrine's future success in developing our targeted antibodies, and we are pleased to have him assume the added responsibilities as our chairman," said Steven W. King, president and chief executive officer of Peregrine. "A highly involved member of our board, Carl works closely and effectively with our management team while bringing independent perspective for our business decisions."

He is taking on added responsibilities while working closely with their management team. Sure, because he is doing nothing at PTSC but watch paint dry. WHY IS HE ON OUR BOD