Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.
(b), (c) and (d)
On December 17, 2017, the Board of Directors (the Board) of Spectrum Pharmaceuticals, Inc. (the Company)
terminated the employment of Rajesh C. Shrotriya, M.D., the Companys then Chief Executive Officer, without cause in accordance with his employment agreement with the Company, which was previously filed with the Securities and Exchange
Commission. The termination was effective immediately and will entitle Dr. Shrotriya to payments and severance benefits as set forth in his employment agreement for a termination without cause.
In connection with the termination of Dr. Shrotriya, the Board appointed Joseph W. Turgeon, the Companys then President and Chief
Operating Officer, as President and Chief Executive Officer, and Thomas J. Riga, the Companys then Executive Vice President, Chief Commercial Officer and Head of Business Development, as Chief Operating Officer, in each case effective
immediately. Mr. Turgeon will serve as the Companys principal executive officer for purposes of the Securities Exchange Act of 1934, as amended (the Exchange Act). The Boards decisions with respect to the management
changes described in this Current Report on Form 8-K were based on its views as to who was in the best position to lead the Company going forward.
In addition, the Board increased the size of the Board to eight members and appointed Mr. Turgeon to the Board to fill the newly created
directorship, effective immediately. The Board has also named current director Stuart M. Krassner as Chairman of the Board, effective immediately.
The compensation that Mr. Turgeon will receive in his role as Chief Executive Officer and Mr. Riga will receive in his role as Chief
Operating Officer of the Company has not yet been determined, and an amendment to this Current Report on Form
8-K
will be filed at a later date to disclose such compensation when a determination has been made.
Mr. Turgeon has served as President and Chief Operating Officer since April 2014 and previously served as Senior Vice President and
Chief Commercial Officer from October 2012 to April 2014. He brings more than 30 years of pharmaceutical sales experience, including various executive leadership roles at Amgen Inc. Prior to joining the Company, Mr. Turgeon spent 22 years at
Amgen Inc., including as Vice President of Sales. Mr. Turgeon holds a Bachelor of Science in Microbiology and Economics from Jacksonville University.
There are no family relationships between Mr. Turgeon and any director or executive officer of the Company, or any person nominated or
chosen by the Company to become a director or executive officer. There are no arrangements or understandings between Mr. Turgeon and any other persons pursuant to which he was selected as Chief Executive Officer. Mr. Turgeon has no direct
or indirect material interest in any transaction or currently proposed transaction required to be disclosed pursuant to Item 404(a) of Regulation
S-K.
Mr. Riga has served as Executive Vice President, Chief Commercial Officer and Head of Business Development since June 2017 and previously
served as Senior Vice President and Chief Commercial Officer from August 2014 to June 2017, and Vice President, Corporate Accounts from July 2013 to August 2014. Prior to joining the Company, Mr. Riga served as Vice President of Sales at Dendreon
Pharmaceuticals LLC, a biotechnology company, from April 2012 to June 2013. Mr. Riga has also held various managerial positions in sales, marketing and manufacturing at Amgen, Eli Lilly and Wyeth Ayerst, all pharmaceutical companies. Mr. Riga holds
a Bachelors degree in Biology and Chemistry from St. Lawrence University.
There are no family relationships between Mr. Riga and
any director or executive officer of the Company, or any person nominated or chosen by the Company to become a director or executive officer. There are no arrangements or understandings between Mr. Riga and any other persons pursuant to which he was
selected as Chief Operating Officer. Mr. Riga has no direct or indirect material interest in any transaction or currently proposed transaction required to be disclosed pursuant to Item 404(a) of Regulation
S-K.