06/27/2024 | Press release | Distributed by Public on 06/27/2024 15:22
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain officers; Compensatory Arrangements of Certain Officers.
On June 27, 2024, the Compensation Committee (the "Committee") of Aspira Women's Health Inc. (the "Company") determined that a personal civil matter interfered with Dr. Torsten Hombeck' s ability to continue to serve as the Company's Chief Financial Officer. The civil matter is unrelated to the Company, its business affairs, internal controls or its financial statements. The Company has notified Dr. Hombeck that such termination has been made for "cause," as defined in his employment agreement with the Company dated May 16, 2023, as amended. As a result, the Company does not believe it is required to make any further payments to Dr. Hombeck, other than payment of salary for the days worked in the current pay period through June 28, 2024.
As of June 27, 2024, Nicole Sandford, the Company's Chief Executive Officer, has taken over Dr. Hombeck' s duties on an interim basis until a search for his replacement is completed.
Nicole Sandford, age 53, has served as our Chief Executive Officer since March 2022. Ms.
Sandford brings more than three decades of executive and leadership experience to the role as an innovator, business
leader and sought-after advisor to CEOs and Boards on strategy, operations, human capital, governance, and risk.
Prior to joining the company, Ms. Sandford was the executive Vice President of Ellig Group, a boutique human
capital and strategy consultancy. Before that she spent over 27 years with global consultancy, Deloitte, where she
launched new ventures, transformed underperforming practices, and led mature businesses including the firm's
flagship Regulatory and Operational Risk practice. She started her career with Deloitte as an auditor specializing in
high-growth global companies in the technology, healthcare and industrial sectors and advising on complex
transactions including mergers and acquisitions, financings, and securities offerings. Ms. Sandford is a member of
the Advisory Board for Ellig Group and an Emeritus Member of the Weinberg Center at the University of Delaware
and the patient representative for the Greenwich Hospital Breast Cancer Accreditation Committee. She was
previously the Board Chair of Girl Scouts of Connecticut, and Board Member of the Stamford Public Education
Foundation. Ms. Sandford received her B.B.A in Accounting from Niagara University. The Committee has
determined that based upon Ms. Sandford's extensive financial expertise and experience in leadership, including
relevant experience as our Chief Executive Officer, she has the qualifications and skills to serve as the Company's interim Chief Financial Officer.