Mr. Tom Rossi reports
TRIMEL ANNOUNCES SENIOR MANAGEMENT REALIGNMENT
Trimel Pharmaceuticals Corp.'s Bruce D. Brydon has stepped down as Trimel's chief executive officer. Mr. Brydon, with the unanimous support of the company's board of directors, has announced that Tom Rossi has been appointed to the position of chief executive officer. Mr. Brydon will remain as chairman of the board of directors.
Mr. Rossi joined Trimel in August of 2011 as president and was subsequently promoted in March, 2012, to include the position of chief operating officer. Mr. Rossi (48), a native of Montreal, holds a BSc from McGill University and an MBA from Concordia University. Mr. Rossi has 25 years of successful industry experience. He has held senior positions with several major multinational corporations including Johnson & Johnson, Boehringer Mannheim (now Roche), Merck & Co. and most recently Novartis Pharmaceuticals, where he served in a number of senior positions reaching the level of chief executive officer for operating businesses in Belgium and most recently in Canada.
Mr. Brydon offered the following comment: "After 18 months as a reporting issuer on the Toronto Stock Exchange, it was time to take the next step in the development of the company and separate the roles of the chairman and the chief executive officer. Trimel's realigned governance structure is consistent with best practices of corporate governance."
Mr. Brydon further commented: "The appointment of Mr. Rossi to the position of chief executive officer establishes a more robust framework for the operation of the business and its continued success. With Mr. Rossi as chief executive officer, I will have greater latitude to concentrate my energies on the stewardship of the company and various strategic initiatives. Tom and I share a long history, and with the commonality of purpose that history generates, the business is assured of a seamless transition. This realignment occurs along an easily identifiable transition point, with CompleoTRT having completed its pivotal phase III trial, the results of which meets the FDA's required endpoints, and Tefina in phase II clinical development, potentially placing Trimel at the forefront of resolving a significant unmet need in women's health. With both of these products now in advanced development, I believe I have fulfilled my original mandate to our shareholders."
In closing, Mr. Brydon went on to comment: "I have known Tom for more than 20 years. His talent and potential were first recognized when we worked together in the early stages of his career. His success in the intervening years since then, proved my original analysis correct, and I have full confidence in his ability to successfully lead Trimel into the future."
Mr. Rossi offered the following comment: "I wish to thank Bruce and the board of directors for their confidence in my leadership abilities. I am focused on creating shareholder value, and expect that, together with our team, Trimel will continue to grow into a source of pride and reward for all. I am especially pleased that Bruce, as our co-founder, will remain active with Trimel, well into the future."
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