Provectus Biopharmaceuticals Announces Leadership Changes


Provectus Biopharmaceuticals, Inc. detailed several leadership changes following the resignation of one of its Co-Founders and its Chairman and CEO, H. Craig Dees, PhD. The Provectus Board of Directors accepted the resignation of Dr. Dees, which he submitted due to personal and health reasons, in a telephonic Board meeting over the weekend. Alfred E. Smith, IV, lead independent director, was selected to replace Dr. Dees as Board Chairman. Peter R. Culpepper, current Provectus CFO and COO, was named Interim CEO. Eric Wachter, current Provectus CTO, also was added to the Board to fill Dr. Dees’ vacancy.

"I look forward to working with our Board and our many consultants and corporate partners to continue our clinical development for the benefit of patients and stockholders alike,” Interim CEO Mr. Culpepper said.

The Board also formed a Search Committee, to be chaired by Board Chairman Smith, to immediately begin work to identify a permanent CEO.

Smith commended Dr. Dees’ role in the company’s history and development of PV-10, the company’s novel investigational drug for cancer, and PH-10, the company’s topical investigational drug for dermatology.

“We wish Craig the very best,” said Smith. “He has helped bring us to this stage of the company’s development. We are optimistic about the company’s current position and confident that the team which Craig helped build will continue his work.”

The Board added that in this transition it has designated the company’s Audit Committee to review a number of company procedures, policies and practices, including executive compensation and expenses. Smith said results of that review will be released when completed.

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