Article: Amidst Allegations of Financial Misconduct, Osiris CEO Resigns

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Amidst Allegations of Financial Misconduct, Osiris CEO Resigns

Mark Terry, 05 February 2016

Columbia, Md.-based Osiris Therapeutics, Inc. announced that Lode Debrabandere, president and chief executive officer, has resigned for personal reasons. Dwayne Montgomery, currently the company’s chief business officer, will act as interim chief executive officer. Frank Czworka, presently vice president and general manager of wound care, will step up as chief operating officer.

The board of directors will start a search for a permanent chief executive officer and has hired an executive search firm to assist in the process. The company indicates it will consider both internal and external candidates. The company has had some problems lately. The company is currently transitioning from research to a commercial company. A Seeking Alpha report published on Jan. 15 cited several red flags. One was that the company’s chief financial officer, Phil Jacoby, resigned in September, replaced by Gregory Law.

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