Hunkapiller brought in Dr. J. Craig Venter to direct the project. Tony White, president of the Perkin-Elmer Corporation backed Hunkapiller on the venture. They organized the new company to accomplish the task. In May 1998, Celera Genomics was formed, to rapidly accelerate the human DNA sequencing process. Dr. Venter boldly declared to the media that he would complete the genome decoding by 2001. That bold announcement prompted the academic consortium to accelerate their own deadline by a couple years, to 2003.