CorMedix Inc. (NASDAQ: (CRMD) stock fell by 4.17% at last close whereas the CRMD stock price gains by 0.15% in the pre-market trading session. CorMedix Inc. is a pharmaceutical business that develops and markets medications for the management and cure of infectious and inflammatory disorders.
CRMD stock’ Changes in Management
The executive leadership team of CorMedix has changed. Khoso Baluch will step down as Chief Executive Officer on October 4, 2021, and will also step down as a member of the Company’s Board of Directors. John Armstrong, CorMedix’s EVP of Technical Operations, will quit the job on October 4, 2021. Matt David, M.D., CorMedix’s EVP and Chief Financial Officer, has been named temporary Chief Executive Officer by the Board, begin immediately. Dr. David’s role as Chief Financial Officer will be retained.
To find a permanent CEO, the Board has begun a search with a prominent executive search company. Mr. Baluch will act as an advisor to the Company in order to ensure a seamless transition.
About Matt David,
In May 2020, Matt David became CorMedix’s Executive Vice President and Chief Financial Officer. Matt was Head of Strategy at Ovid Therapeutics before joining CorMedix, and he has served the majority of his career in healthcare investment banking roles, advising life sciences businesses on a variety of financing and strategic transactions. Matt earned his M.D. at New York University School of Medicine and his bachelor’s degree at Dartmouth College.
Myron Kaplan, Chairman of the Board of Directors commented,
He appreciates Khoso and Jack on behalf of the whole Board for their committed commitment and contributions to CorMedix. Khoso has played a key role in restructuring the company and effectively leading it while assembling a highly skilled management team. While the CEO search is ongoing, Matt’s enthusiasm and leadership, along with the backing of CorMedix’s Board of Directors and skilled management team, allow him to pursue the critical work underway to advance DefenCath.
