KV Pharma axes CEO

A month after laying off 42 percent of its workforce, KV Pharmaceutical has elected new board members who promptly turned around and ousted the CEO, David Van Vliet. The board initiated a search for a new CEO, who will have to complete a turnaround triggered by an FDA inspection and product recalls, and get the company's products back on the market. Van Vliet is entitled to a $1 million severance package, about twice his annual salary. KV release