Lifecore Biomedical (LFCR) just unveiled an announcement.
Lifecore Biomedical, Inc. has announced a leadership transition with Paul Josephs stepping in as the new President and CEO from May 20, 2024, succeeding James G. Hall. Josephs, with a strong background in executive roles at various pharmaceutical companies, will also join the company’s Board of Directors without additional compensation. His employment package includes a $550,000 base salary, potential for annual bonuses, stock awards, and further benefits. The company has also introduced an Equity Inducement Plan, reserving shares for new hires as an employment incentive, and has reached a separation agreement with the outgoing CEO, Mr. Hall.
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