Qualigen Therapeutics Inc.

09/26/2024 | Press release | Distributed by Public on 09/26/2024 15:11

Management Change/Compensation Form 8 K

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On September 23, 2024, Mr. Michael Poirier, Chief Executive Officer and Chairman of the board of directors of Qualigen Therapeutics, Inc. (the "Company"), tendered his resignation from all positions held with the Company, with such resignation becoming effective immediately. On the same date, Mr. Christopher Lotz, Chief Financial Officer of the Company, also tendered his resignation from all positions held with the Company, with such resignation becoming effective immediately. The resignations of Mr. Poirier and Mr. Lotz were attributed to disagreements with the Company regarding its future direction and strategic initiatives.

On September 25, 2024, the board of directors (the "Board") appointed Campbell Becher as President of the Company, effective immediately.

On September 26, 2024, the Board of Directors appointed Kevin Richardson II as the Interim Chief Executive Officer and Interim Chief Financial Officer, as well as a member of the board of directors of the Company (the "Interim CEO and CFO"), effective immediately. The consulting fee for Mr. Richardson shall be USD $4,500 per week.

Mr. Richardson has extensive experience in leading strategic and turnaround efforts in various small cap companies. Mr. Richardson most recently served as CEO of Sanuwave Health Inc., a medical device startup that Mr. Richardson took from a fledgling operation to $20mm in revenue.