Theratechnologies Inc. (TH.TO) CEO Exits Role as Company Tightens Third-Quarter Loss
10/12/2012 7:14:51 AM
MONTREAL, CANADA--(Oct 11, 2012) - Theratechnologies Inc. (TH.TO)(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.
Theratechnologies (TH.TO)(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.
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.
NATIONAL Public Relations