CEO Thomas Isett resigns effective immediately; interim office of CEO established

iBio, Inc.

Thomas F. Isett resigned as CEO and Board member effective December 1, 2022, with employment ending December 31, 2022.
Severance includes 24-month base salary, pro rata target bonus, 24-month target bonus, and up to 18 months COBRA subsidy.
Robert Lutz (CFO) and Martin Brenner (CSO) will fill the office of the CEO during the search; leadership reports to Chair William Clark.
Departure was not due to any disagreement with the Company's strategy, operations, or accounting policies.
Isett will assist with sale of CDMO assets through March 2023 and litigation matters through December 2024.

item 5.02 item 9.01

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Departed

Thomas F. Isett

Chief Executive Officer

IBIO · iBio, Inc.

Effective: 2022-12-01
Filed: December 7, 2022, 6:59 PM ET

Mr. Thomas F. Isett, the Chief Executive Officer (the “CEO”) of iBio, Inc., (the “Company”) and a member of the Board of Directors (the “Board”), and the Company, agreed for Mr. Isett to resign as a member of the Board and relinquish his duties, rights and obligations as an officer and the CEO of the Company, effective immediately.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Thomas F. Isett resigned as Chief Executive Officer at iBio, Inc..

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

Mr. Thomas F. Isett, the Chief Executive Officer (the “CEO”) of iBio, Inc., (the “Company”) and a member of the Board of Directors (the “Board”), and the Company, agreed for Mr. Isett to resign as a member of the Board and relinquish his duties, rights and obligations as an officer and the CEO of the Company, effective immediately.

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iBio, Inc. filing history →

Source: SEC EDGAR

accession 0001420720-22-000091

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