Celularity terminates CFO David Beers

Celularity (CELU) announced that it terminated the employment of its CFO, David Beers, effective immediately. The company said Beer’s termination was not related to the company’s financial or operating results or to any disagreements or concerns regarding the company’s financial or reporting practices. Beers was terminated “without cause” under the terms of his employment agreement dated April 1, 2022, as amended and restated, and, subject to his compliance with its terms, Beers will be entitled to the payments and benefits provided therein following a termination without cause. Effective as of June 10, the company appointed Joseph DosSantos, its current senior VP finance, as the company’s interim CFO while the company conducts a search for a new CFO.