Pulmatrix (PULM) has provided an update.
Pulmatrix, Inc. has finalized a severance agreement with Teofilo Raad, effectively ending his roles within the company and on the board, complete with severance pay and additional financial benefits. Simultaneously, Peter Ludlum has been appointed as the Interim CEO, with a lucrative hourly compensation and potential retention bonuses, while continuing his prior role as Interim CFO. This strategic move comes with no reported internal disagreements or familial ties influencing the decisions, signaling a forward-looking transition in the company’s leadership.
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