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SLXP > SEC Filings for SLXP > Form 8-K on 5-Jan-2015 All Recent SEC Filings
Show all filings for SALIX PHARMACEUTICALS LTD
Form 8-K for SALIX PHARMACEUTICALS LTD
5-Jan-2015
Change in Directors or Principal Officers, Other Events, Financial Stat
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 30, 2014, Carolyn J. Logan, the President and Chief Executive Officer of Salix Pharmaceuticals, Ltd. (the "Company"), informed the Board of Directors of the Company of her decision to retire on January 30, 2015. As a result of her retirement, Ms. Logan will cease serving as President, Chief Executive Officer, and as a member of the Company's Board of Directors, effective January 30, 2015.
Effective January 30, 2015, the Company's Chairman of the Board, Tom D'Alonzo, who has significant experience as a chief executive in the pharmaceutical industry, will be appointed Acting Chief Executive Officer, and William Bertrand, Jr., the Company's Senior Vice President and General Counsel, will be appointed Acting Chief Operating Officer, pending the Company's hiring of a permanent Chief Executive Officer.
The Company intends to retain a nationally recognized executive search firm to assist the Company in identifying a highly qualified, experienced pharmaceutical executive to lead the Company on a going-forward basis.
In connection with Ms. Logan's retirement, the Company, Salix Pharmaceuticals, Inc. ("Salix Inc.") and Ms. Logan entered into a retirement agreement, dated December 30, 2014 (the "Retirement Agreement"). Pursuant to the Retirement Agreement, among other things, Ms. Logan (i) agreed to consult with the Company through August 23, 2018 at the Company's request and cooperate with the Company with respect to certain matters and (ii) provided a general release of claims against the Company and its affiliates. Ms. Logan's unvested restricted shares in the Company will continue to vest in accordance with their current vesting schedules and be subject to the terms of the applicable stock plan under which they were granted and the Retirement Agreement. The Retirement Agreement also provides for the termination of (i) the Amended and Restated Employment Agreement, dated as of April 29, 2014, by and between Salix Inc. and Ms. Logan and (ii) the Employment, Confidential Information, Invention Assignment, and Arbitration Agreement, dated as of July 10, 2006, by and between Salix Inc. and Ms. Logan.
The foregoing summary of the Retirement Agreement does not purport to be complete and is qualified in its entirety by reference to such agreement, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.
Item 8.01. Other Events.
The Company issued a press release on January 5, 2015 regarding the retirement of Ms. Logan and the CEO succession plan. A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by referenc
Heeft er toch wel alle schijn van dat hier een gedwongen opstap plaats vind.
Zou het zo zijn dat de aangestelde CEO wel een overname ziet zitten??
We gaan het volgen !
Ruud..