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Optimer Pharma Names Hank McKinnell Chairman - Quick Facts

Optimer Pharmaceuticals (OPTR) announced that its board of directors has appointed Hank McKinnell as its new chairman. The company added that Kurt Hartman, who currently serves as General Counsel, chief compliance officer and senior vice president, has been appointed acting chief financial officer, or CFO, and that a search for a permanent CFO has commenced.

The company noted that the appointments were made after its board of directors removed Dr. Michael Chang as chairman and terminated John Prunty, CFO, and Dr. Youe-Kong Shue, vice president. The Board, excluding Chang, unanimously approved the personnel changes. Chang remains as a director of the company, but the Board has requested his resignation.

According to Optimer Pharma, the changes are not expected to materially impact its revenues or operations, including the commercialization and launch of DIFICID, but were related to certain lapses in corporate governance practices and the company's relationship with Optimer Biotechnology, Inc., its 43%-owned independent, Taiwanese-based affiliate.

Separately, Optimer Pharma stated that based upon preliminary results, it expects to report gross revenues of around $16.45 million for the first quarter of 2012.

by RTTNews Staff Writer

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