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Posted 21 November, 2023

Bellerophon Therapeutics, Inc. appointed new CEO

CEO Change detected for ticker OTC:BLPH in a 8-K filed on 21 November, 2023.


  Pursuant to the previously disclosed transition and separation agreements between Bellerophon Therapeutics, Inc. (the "Company") and each of Peter Fernandes, the Company's Chief Executive Officer, principal executive officer and principal financial officer, and Parag Shah, the Company's Vice President of Business Operations, the board of directors of the Company (the "Board") set November 15, 2023 as the separation date for the employment of each of Dr. Fernandes and Mr. Shah.  

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Overview of Bellerophon Therapeutics, Inc.
Health Care/Life Sciences • Pharmaceuticals
Bellerophon Therapeutics, Inc. is a clinical-stage biopharmaceutical company, which engages in the development of products that address significant unmet medical needs in the treatment of cardiopulmonary diseases. Its product pipeline includes PH-ILD, PH-COPD, INOpulse and PH-Sarc. The company was founded in 2009 and is headquartered in Warren, NJ.
Market Cap
$630K
View Company Details
Bellerophon Therapeutics, Inc. by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


Departure of Executive Officers


Pursuant to the previously disclosed transition and separation agreements between Bellerophon Therapeutics, Inc. (the "Company") and each of Peter Fernandes, the Company's Chief Executive Officer, principal executive officer and principal financial officer, and Parag Shah, the Company's Vice President of Business Operations, the board of directors of the Company (the "Board") set November 15, 2023 as the separation date for the employment of each of Dr. Fernandes and Mr. Shah. The material terms of the transition and separation agreements were previously disclosed in the Company's Current Report on Form 8-K filed on August 7, 2023.


Election of Director and Officer


On November 15, 2023, the Board appointed Craig Jalbert, age 62, as the Company's President, Treasurer and Corporate Secretary and as the Company's principal executive officer, principal financial officer and principal accounting officer, effective November 15, 2023, and as a member of the Board, effective November 15, 2023, to serve until the next election of directors and thereafter until his successor has been elected and qualified or until his earlier death, resignation or removal. Mr. Jalbert has not been appointed to any committee of the Board and as of the date hereof is not expected to be appointed to any committee of the Board.


Mr. Jalbert has served as a principal of the Foxborough, Massachusetts accounting firm of Verdolino & Lowey, P.C. since 1987. For over 30 years he has focused his practice on distressed businesses and has served, and continues to serve, in the capacities of officer and director for numerous firms in their wind-down phases. In connection with his appointment, Mr. Jalbert will be compensated in the amount of $10,000 per month until the stockholders approve the dissolution and the Board determines to implement the dissolution, following the filing of the certificate of dissolution with the Secretary of State of the State of Delaware, Mr. Jalbert will be compensated in the amount of $50,000 per year for a period of three years. There is no arrangement or understanding pursuant to which Mr. Jalbert was appointed to the Board. There are no family relationships between Mr. Jalbert and any director or executive officer of the Company, and Mr. Jalbert has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.