Oxygen Biotherapeutics announced that Ronald R. Blanck, DO, was appointed Chairman of the Board of Directors of the company.
The company also reported that in light of the shareholder vote received today at the General Annual Meeting of Shareholders Rene A. Eckert and J. Melville Engle resigned as directors of the company. Neither of the resignations was the result of any disagreement with the company or the Oxygen Board of Directors.
In a letter to the board, Mr. Engle said, "I respect the vote as an indicator of desired change and am abiding thereto. I believe in the company and I wish the best for our shareholders in the future."
In a separate letter to the board, Mr. Eckert said, "I wish to make clear that my resignation is not due to any disagreement with the company, its Board of Directors or its management, and each continues to have my full support."
This board change brings the Oxygen Board of Directors to three members. At this time, the company will evaluate the existing board structure and future needs.
In an unrelated matter, the company also announced that Chief Medical Officer Dr. Gerald Klein notified the company of his intent to resign in October because he accepted a position with another company.
"We are sorry to see Dr. Klein, Mr. Eckert and Mr. Engle leave but we understand and respect their decisions. We wish to thank them for their service to our company. We highly value the insight they have provided and appreciate their contributions," said Chief Financial Officer and Interim Chief Executive Officer Michael Jebsen.
"We are pleased that Dr. Blanck has agreed to accept the chairmanship of our board. His medical expertise and leadership abilities will be invaluable to us as we navigate the clinical development of medical products," Mr. Jebsen added.
