Stella Diagnostics Inc. (OTCMKTS:SLDX) was up 38% after the company announced leadership changes in relation to the next stage of its business strategy.
Trading Data
On Friday, SLDX stock went up 38% to $1.02 with more than 3K shares, compared to its average volume of 4.7K shares. The stock moved within a range of $0.7060 – 1.0200 after opening trade at $0.9990.
Stella Diagnostics Announces Leadership Changes: Dr. Joe Abdo Assumes a New Role as Chief Scientific Officer, and Director David Seaburg is Appointed Chief Executive Officer
Dr Joe Abdo, who is currently part of Stella Diagnostics’ Board of Directors, will take the freshly created position of Chief Scientific Officer in order to execute new procedures, products, and marketing strategies effectively. David Seaburg, who equally sits on the Stella Diagnostics’ Board of Directors, will assume the position of Chief Executive Officer.
The anticipated leadership transfer reflects Stella Diagnostics’ Board of Directors’ transition planning approach. As a result, the Board undertook a thorough assessment of both external and internal applicants. The Board unilaterally voted on the management changes after a comprehensive evaluation. The chairman of the Board, Daniel Wainstein, said that the leadership changes mark a significant inflection point for the company considering David and Joe will offer the chance to focus on segments they have mastered. So, in the coming weeks, SLDX is worth watching.
Key Quote
Daniel Wainstein, Chairman of Stella Diagnostics’ Board of Directors, said, “This leadership transition marks an important inflection point for Stella Diagnostics, since it will provide both Joe and David the opportunity to focus on the areas they know best. Since coming on board as a Director, David has been a key member of our leadership team. Joe has proven himself as a strong leader with an extensive knowledge of molecular oncology research and precancerous and cancerous esophageal diseases. The Board looks forward to working with David, Joe, and the rest of management to drive our strategy forward and continuing to create meaningful value for shareholders.”
