NovaBay Pharmaceuticals Announces CFO Transition
July 10 2017 - 6:50AM
Business Wire
30-year finance veteran Jack McGovern joins
NovaBay in mid July, current CFO Tom Paulson to retire at year
end
NovaBay® Pharmaceuticals, Inc. (NYSE MKT: NBY), a specialty
pharmaceutical company focusing on commercializing prescription
Avenova® for lid and lash hygiene in the domestic eye care market,
announces that Jack McGovern will join the company as Chief
Financial Officer as of July 17, 2017. Current CFO Thomas (Tom)
Paulson, a 40-year healthcare finance veteran, will continue with
NovaBay through his retirement at the end of the year and will lead
NovaBay’s annual strategic planning process, oversee investor
relations activities and ensure a smooth transition to Mr.
McGovern.
Mr. McGovern has more than 30 years of experience in finance and
operations, primarily in the San Francisco Bay Area. Since 2013 he
was Chief Operating Officer and CFO of Attainia, Inc., a SaaS-based
provider of planning solutions for the healthcare industry recently
sold to a private equity firm. Previously, for eight years he was
Managing Partner at Northshore Management Partners, a consultancy
with an emphasis on accounting systems and reporting, financial
capitalization and structuring, and operational enhancements.
Earlier he was COO/CFO at Integrated Biosystems, a venture-stage
company in France; Executive Vice President at Strategic Capital,
Inc., a boutique investment bank with a focus on M&A and
COO/CFO of Oliver-Allen Corp., a computer leasing company. He began
his career as an auditor at KPMG.
“Jack brings to NovaBay valuable experience in raising capital,
managing growth to sustained profitability and project management,
as well as considerable financial acumen. He has worked at emerging
companies and has consulted to numerous firms facing similar
opportunities as those we have at NovaBay. He is adept with
accounting systems, SEC reporting, budgeting, forecasting and
operational enhancements. We are delighted to welcome Jack to
NovaBay and look forward to his role in supporting our projected
growth,” said Mark M. Sieczkarek, NovaBay’s President and CEO.
“On behalf of my colleagues and the NovaBay Board of Directors,
I’d like to thank Tom for nearly a decade of service and dedication
to our company and to our stockholders. He played an important role
in transitioning NovaBay from an R&D and clinical focused
organization to a commercial entity posting consistent
year-over-year record sales of Avenova. He also has been critical
to various successful fundraisings while increasing awareness of
NovaBay among investment professionals,” added Mr. Sieczkarek. “We
are grateful Tom has agreed to stay with NovaBay through the end of
the year to, in part, oversee the important strategic planning
process. We wish him well in his pending retirement.”
Mr. McGovern received a BS in accounting from Chico State
University and is a licensed CPA in the State of California.
About NovaBay Pharmaceuticals, Inc.: Going Beyond
Antibiotics®
NovaBay Pharmaceuticals, Inc. is a biopharmaceutical company
focusing on commercializing and developing its non-antibiotic
anti-infective products to address the unmet therapeutic needs of
the global, topical anti-infective market with its two distinct
product categories: the NEUTROX® family of products and the
AGANOCIDE® compounds. The Neutrox family of products includes
AVENOVA® for the eye care market, NEUTROPHASE® for wound care
market, and CELLERX® for the aesthetic dermatology market. The
Aganocide compounds, still under development, have target
applications in the dermatology and urology markets.
Forward-Looking Statements
This release contains forward-looking statements that are based
upon management's current expectations, assumptions, estimates,
projections and beliefs. These statements include, but are not
limited to, statements regarding any potential benefit or
deleterious effect due to the transition in management, inclusive
of any possible effect that would have generally on the Company’s
expected future financial results. These statements involve known
and unknown risks, uncertainties and other factors that may cause
actual results or achievements to be materially different and
adverse from those expressed in or implied by the forward-looking
statements. Factors that might cause or contribute to such
differences include, but are not limited to, risks and
uncertainties relating to difficulties or delays in manufacturing,
distributing, and selling the Company's products, unexpected
adverse side effects or inadequate therapeutic efficacy of our
product, the uncertainty of patent protection for the Company's
intellectual property, and any potential regulatory
problems. Other risks relating to NovaBay’s business,
including risks that could cause results to differ materially from
those projected in the forward-looking statements in this press
release, are detailed in NovaBay's latest Form 10-K and Form 10-Q
filings with the Securities and Exchange Commission, especially
under the heading "Risk Factors." The forward-looking
statements in this release speak only as of this date, and NovaBay
disclaims any intent or obligation to revise or update publicly any
forward-looking statement except as required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20170710005320/en/
NovaBay ContactsFor
NovaBay Avenova purchasing information, please:Call us toll
free: 1-800-890-0329 or email
sales@avenova.comwww.Avenova.comorFrom the
CompanyThomas J. PaulsonChief Financial
Officer510-899-8809Contact TomorInvestor
Contact:LHAJody Cain, 310-691-7100Jcain@lhai.com
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