Business
CorMedix Inc. Announces Executive Leadership Changes
BERKELEY HEIGHTS, N.J., Oct. 04, 2021 (GLOBE NEWSWIRE) -- CorMedix Inc. (Nasdaq: CRMD), a biopharmaceutical company focused on developing and commercializing
About this update from Cormedix Inc.
[{"type":"text","content":"BERKELEY HEIGHTS, N.J., Oct. 04, 2021 (GLOBE NEWSWIRE) -- CorMedix Inc. (Nasdaq: CRMD), a biopharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory disease, today announced changes to its executive leadership team. Khoso Baluch is retiring from his role as Chief Executive Officer, effective October 4, 2021, and has also resigned from the Company’s Board of Directors. John Armstrong, EVP for Technical Operations, is retiring from CorMedix, effective October 4, 2021. The Board has appointed Matt David, M.D., CorMedix’s EVP and Chief Financial Officer, as interim Chief Executive Officer, effective immediately. Dr. David will continue to hold his position of Chief Financial Officer. The Board is initiating a search process with a leading executive search firm to identify a permanent CEO. Mr. Baluch will serve the Company in an advisory capacity to facilitate a smooth transition. Phoebe Mounts, Ph.D., Esq., EVP, General Counsel, and Head of Regulatory, Compliance, and Legal will have direct authority over CorMedix’s Technical Operations group, inclusive of a specialized group of consultants working on addressing the deficiencies identified at CorMedix’s third-party manufacturing facility. “On behalf of the entire Board, I thank Khoso and Jack for their dedicated service and contributions to CorMedix. Khoso has been instrumental in refocusing the Company and guiding it strategically while building a highly experienced executive team,” said Myron Kaplan, Chairman of the Board of Directors. “Matt’s energy and leadership, with the support of CorMedix’s Board of Directors and experienced management team, enable him to continue the important work underway to progress DefenCath, while the CEO search is ongoing.” Dr. David commented, “I am honored to take on the role of interim CEO during this important time for the Company. With a strong executive team spanning regulatory, medical affairs, clinical operations and commercial, and a highly supportive Board which includes proven healthcare industry leaders, I believe we are well positioned to continue our efforts to bring DefenCath to the hemodialysis patient community.” About Matt David Matt David joined CorMedix as Executive Vice President and Chief Financial Officer in May 2020. Prior to joining C...