Theratechnologies Announces Departure of President and Chief Executive Officer
October 11 2012 - 6:13PM
Marketwired
Theratechnologies Inc. (TSX:TH)(NASDAQ:THER) announced today that
John-Michel T. Huss will be leaving his role as President and Chief
Executive Officer and as director of the Company, effective
immediately.
On an interim basis, Luc Tanguay, Senior Executive Vice
President and Chief Financial Officer, will fulfill the duties of
President and Chief Executive Officer. Mr. Tanguay has been a
member of the management team since 1996 and a member of the Board
of Directors since 1993.
"The Board and management thank John for his time with the
company and wish him the best of luck in his future endeavours. As
a result of his departure, the management team has been tasked to
prepare a revised business plan for the Company, which will be
communicated to shareholders via conference call by the end of the
month," stated Paul Pommier, Chairman of the Board of
Directors.
As a result of this announcement, Theratechnologies will not
hold its Third Quarter of 2012 Results Conference Call originally
scheduled for tomorrow, Friday, October 12, at 8:30 a.m.
About Theratechnologies
Theratechnologies (TSX:TH)(NASDAQ:THER) is a specialty
pharmaceutical company that discovers and develops innovative
therapeutic peptide products, with an emphasis on growth-hormone
releasing factor peptides. Further information about
Theratechnologies is available on the Company's website at
www.theratech.com, on SEDAR at www.sedar.com and on the Securities
and Exchange Commission's website at www.sec.gov.
Forward-Looking Information
This press release contains certain statements that are
considered "forward-looking information" within the meaning of
applicable securities legislation, which statements may contain
such words as "may", "would", "could", "will", "intend", "plan",
"anticipate", "believe", "estimate", "expect" and similar
expressions. This forward-looking information includes, but is not
limited to, information regarding communication to shareholders of
a revised business plan by the end of the month.
Forward-looking information is based upon a number of
assumptions and is subject to a number of risks and uncertainties,
many of which are beyond Theratechnologies' control that could
cause actual results to differ materially from those that are
disclosed in or implied by such forward-looking information. These
assumptions include, but are not limited to, the fact that no
unforeseen event will delay the preparation of the revised business
plan and such plan will be accepted by the Board of Directors.
These risks and uncertainties include, but are not limited to, the
risk that unforeseen events occur and delay the preparation of the
revised business plan, or presentation thereof to shareholders by
the end of the month, or that the Board of Directors does not
approve the proposed revised business plan resulting in a delay in
the presentation of such plan to the shareholders.
Theratechnologies refers potential investors to the "Risk
Factors" section of its Annual Information Form (AIF) dated
February 27, 2012. The AIF is available at www.sedar.com and at
www.sec.gov under Theratechnologies' public filings. The reader is
cautioned to consider these and other risks and uncertainties
carefully and not to put undue reliance on forward-looking
statements. Forward-looking information reflects current
expectations regarding future events and speaks only as of the date
of this press release and represents Theratechnologies'
expectations as of that date.
Theratechnologies undertakes no obligation to update or revise
the information contained in this press release, whether as a
result of new information, future events or circumstances or
otherwise, except as may be required by applicable law.
Contacts: Roch Landriault NATIONAL Public Relations
514-843-2345
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