Phivida Conducts Management Changes

Phivida Holdings (CSE: VIDA) announced a change in management this morning, following the decision of James Bailey to resign from his role as President and CEO of the firm. David Moon will be taking his place as the interim chief executive officer at the issuer, while remaining to serve as on the Board of Directors.

Moon came to Phivida by way of the acquisition of Wikala.com, an e-commerce platform that focuses on online marketing, content creation, and sales. Moon has experience in founding successful e-commerce platforms over a period of 15 years, as well as experience in the natural health and wellness sector which is Phivida’s core focus. He will continue to serve as President of Wikala.com while acting as the interim CEO of Phivida.

With the departure of Bailey, the issuer is now focused on finding a new chief executive as a permanent replacement. Phivida identified that it will consider both internal and external candidates for the role. Additionally, the firm identified that it is conducting a strategic review process as a result of Bailey’s departure, which may or may not include exploring potential corporate transactions. No further public announcements will be made however in relation to the strategic review unless a definitive agreement is entered into.

Phivida Holdings last traded at $0.17 on the Canadian Securities Exchange, up 3..03% on the day.

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Information for this briefing was found via Sedar and Phivida Holdings. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.