Business
Cardax Promotes David M. Watumull to COO; Partially Restores Compensation Company-Wide
Cardax Promotes David M. Watumull to COO; Partially Restores Compensation Company-Wide.
About this update from Cardax Inc
[{"type":"text","content":"\n\n\n\nCardax Promotes David M. Watumull to COO; Partially Restores Compensation Company-Wide\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnsbls{\nBORDER-LEFT:black 1pt solid\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnsbbs{\nBORDER-BOTTOM:black 1pt solid\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnrbrs{\nBORDER-RIGHT:black 1pt solid\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n.prnsbts{\nBORDER-TOP:black 1pt solid\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n\n\n\n\n\n\nCardax Promotes David M. Watumull to COO; Partially Restores Compensation Company-Wide\nActions Follow Achievement of Key Milestones Consistent with Strategy\nPR Newswire\nHONOLULU, Sept. 7, 2017\n\n\n\nHONOLULU, Sept. 7, 2017 /PRNewswire/ -- Cardax, Inc. (OTCQB:CDXI) announced today that David M. Watumull has been promoted to Chief Operating Officer, reflecting his contribution to important company milestones and his expanded role in the execution of the Company's business strategy going forward. His responsibilities include oversight of all operations related to sales and marketing, product development and manufacturing, finance, and administration.\n\nIn addition, the Company also reported today that based on the achievement of these milestones, with oversight of the Compensation Committee and consistent with relevant benchmarks, it has incrementally increased compensation levels company-wide from approximately 50% of its existing base compensation rates to approximately 75%. Compensation had been reduced in 2016 to conserve cash prior to the launch of its first product, ZanthoSyn®, the Company's safe anti-inflammatory supplement for health and longevity.* \n\nThe compensation increase reflects the important milestones the Company has recently achieved as well as other factors, including the:\n\n\nNational expansion of ZanthoSyn across all US General Nutrition Corporation (\"GNC\") corporate stores in the fall of 2017\nAccelerating sales of ZanthoSyn at GNC stores in Hawaii\nStrong physician acceptance...