As FDA as­sess­es its an­tibi­ot­ic, Cem­pra bids long­time CEO Prab­ha Fer­nan­des good­bye

Just weeks af­ter an ex­pert pan­el un­en­thu­si­as­ti­cal­ly en­dorsed its new an­tibi­ot­ic solithromycin, Cem­pra $CEMP has cho­sen to switch out CEOs. Com­pa­ny co-founder and CEO for the last 10 years, Prab­ha Fer­nan­des is out and board mem­ber David Za­c­cardel­li is step­ping in on an in­ter­im ba­sis.

As part of the tran­si­tion, David Moore was pro­mot­ed to pres­i­dent and chief com­mer­cial of­fi­cer.

Fer­nan­des will con­tin­ue to do some work for the com­pa­ny as a sci­en­tif­ic con­sul­tant, which an 8-K notes will be worth $35,000 a month. She gets $45,000 for waiv­ing her no­tice pe­ri­od pro­vi­sion in her con­tract, plus a $280,260 bonus for the year and an an­nu­al salary of $540,000 over the next 18 months. That should put the to­tal com­pen­sa­tion at more than $1 mil­lion.

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