Rockwell Medical CEO Russell Ellison Quits; Mark Strobeck Named Replacement

Rockwell Medical, Inc. (RMTI), a company focused on iron deficiency and anemia management, said on Friday that its Chief Executive Officer Russell Ellison is stepping down with effect from June 30.

Effective from July 1, the company has appointed Mark Strobeck as the new CEO.

Robert Radie, Chairman of Rockwell Medical, said: "Mark's scientific, operational, and business experience along with his successful track record align well with Rockwell's goal to develop and commercialize transformative treatments for iron deficiency in multiple disease states…"

Prior to joining Rockwell Medical, Mark was a Managing Partner at Aquilo Partners, a life science investment banking firm specializing in mergers and acquisitions and strategic partnering transactions.

In connection with his commencement of employment, Mark has granted an inducement award consisting of a stock option to purchase up to 400,000 shares of Rockwell common stock.

The exercise price of the stock option will be equal to the closing price of the company's shares on July 1.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The US Centers for Disease Control and Prevention or CDC has ended recommendations for social distancing and quarantine with a view to minimize covid-19's impact on persons, communities, and health care systems. The agency also ended recommendation for test-to-stay in schools, CNN noted. Healthcare major Johnson & Johnson, which is in the middle of a talcum powder fiasco, said it is discontinuing talc-based JOHNSON'S Baby Powder globally in 2023. The company plans to transition to an all cornstarch-based baby powder portfolio. According to the company, the commercial decision to use cornstarch in all its baby powder products was made after conducting an assessment of its portfolio Walt Disney's streaming service Disney+ is rolling out its much-anticipated new ad-supported subscription plan for Disney+ in the U.S. as part of its bid to stem the loss and make its streaming business profitable after the services posted a hefty operating loss of more than $1 billion in the third quarter. It is also raising pricing for its bundled subscription plans with Hulu, ESPN+ and live TV.
Follow RTT