New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 2, 2014
17:43 EDTECTEEcho Therapeutics appoints Kimberly Burke as interim CEO
Echo Therapeutics disclosed in a regulatory filing, that on June 30, the Board of Directors of Echo Therapeutics appointed Kimberly A. Burke to serve as Interim CEO of Echo, effective July 1 and continuing for the sixty-day period expiring on August 30 or, if earlier, such date as a candidate is identified and appointed by the Board to serve as Echo’s CEO. Ms. Burke will also serve as Echo’s principal executive officer. The Board is currently working with a retained executive search firm to identify qualified candidates to serve as Echo’s CEO. In addition to serving as Interim CEO, Ms. Burke will also continue to serve as the General Counsel and Chief Compliance Officer of Echo. Effective at midnight on June 30, Robert F. Doman’s consulting contract with Echo expired in accordance with its terms and, accordingly, he no longer serves as the Interim CEO of Echo .On July 1, Christopher P. Schnittker resigned as SVP and CFO of Echo to accept another opportunity. Mr. Schnittker’s resignation is effective as of July 15. Echo has initiated a search for a new CFO.
News For ECTE From The Last 14 Days
Check below for free stories on ECTE the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
July 11, 2014
07:40 EDTECTEEcho Therapeutics holder Platinum calls for meeting, demands resignations
Platinum Management, the largest stockholder of Echo Therapeutics owning approximately 20% of the company's outstanding common stock, sent a letter to the company exercising Platinum's contractual right under the December 10, 2013 stock purchase agreement between Platinum and the company to cause Echo to call a meeting of stockholders to vote to lift the "blockers" limiting Platinum's voting power. If the stockholders vote in favor of lifting the blockers, Platinum would wind up with the power to vote approximately 30.34 % of the company's shares, based on current publicly available information. Platinum said, "the inexplicable and damaging recent conduct by directors Vincent D. Enright, William F. Grieco and James F. Smith leads Platinum to believe that future action to remove the Lingering Directors for cause is likely necessary...Platinum believes that a qualified new CEO should be hired without delay and added to the Board as a Director. Platinum asked that this action to be taken in a public letter to stockholders nearly a year ago but were rebuffed by the Lingering Directors until recently...We now have no choice but to demand publicly the immediate resignations of Messrs. Enright, Smith and Greico from the Board, and to prepare for a future in which stockholders may need to remove those entrenched directors for cause if they refuse to do the obviously right thing."

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use