MELBOURNE, AUSTRALIA: Adherium Limited (ASX:ADR) notified that Rick Legleiter has tendered his resignation as Chief Executive Officer, and has provided six months’ notice to enable a smooth transition to new leadership.

Mr Legleiter joined the business in May 2021 during the height of the COVID-19 pandemic.

Since that time, he has led successful regulatory filings, next generation product launches and a focus on a go-to-market strategy leading to multiple agreements with major US commercial partners.

Commenting on his resignation, Mr Legleiter said, “I staunchly believe our reimbursed digital technology helps respiratory patients live better lives while reducing healthcare costs and I am convinced we have opened the door to success for the Company’s commercial strategy. While leaving for family reasons, I thank shareholders, the Board, my leadership team, and all employees for the honour of serving.”

Mr Lou Panaccio, Chairman of the Board, is stepping into the Executive Chairman role as the Board will use this opportunity for talent acquisition as the business continues its growth trajectory, including an executive search for a new CEO.

Mr Panaccio commented, “I would like to thank Rick on behalf of Adherium and our entire team for his professionalism and contributions.

Rick became CEO during the global lockdown due to COVID-19, a particularly challenging time, and has helped the company through an important transformational stage and key fund-raising round.

I appreciate Rick’s support to work closely with me during the transitional period and wish him and his family well.”