Quidelortho Corporation

11/08/2024 | Press release | Distributed by Public on 11/08/2024 10:22

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.
In connection with a leadership reorganization, on November 7, 2024, QuidelOrtho Corporation (the "Company") took the following actions:
The Company determined to terminate the employment of Michael S. Iskra, the Company's Executive Vice President ("EVP") and Chief Commercial Officer, and Robert J. Bujarski, the Company's EVP and Chief Operating Officer, each effective November 15, 2024 (the "Effective Date").
In addition, the Company appointed Philip McLellan to serve as the Company's Chief Operations Officer, effective as of the Effective Date. Mr. McLellan (age 55) most recently served as the Company's Senior Vice President of Operations since November 2020. Prior to joining the Company, Mr. McLellan led the operations teams for several life sciences divisions at Thermo Fisher Scientific, a laboratory equipment, diagnostics and biotechnology company, for 11 years, including the laboratory consumables, genetic analysis and bioproduction businesses. Prior to that, Mr. McLellan served in various global automotive manufacturing roles at Toyota Motor Manufacturing, an automotive manufacturer, for 13 years. Mr. McLellan received his B.S. in Mechanical Engineering from the Georgia Institute of Technology.
The Company and Mr. McLellan will enter into (i) a Severance and Change in Control Agreement, substantially in the form as previously filed with the Securities and Exchange Commission ("SEC") as Exhibit 10.17 to the Company's Annual Report on Form 10-K for the year ended December 31, 2023 (the "Annual Report") and (ii) an Indemnification Agreement, substantially in the form as previously filed with the SEC as Exhibit 10.16 to the Annual Report.
There is no arrangement or understanding between Mr. McLellan and any other person pursuant to which he was appointed as an officer of the Company; there is no family relationship between Mr. McLellan and any of the Company's directors or other executive officers; and Mr. McLellan is not a party to any transactions of the type that would require disclosure under Item 404 of Regulation S-K.