Great 8K Out! Peter OUT and Timothy C. Scott, Ph.D (President) overseeing things until the company established search committee identify's a permanent Chief Executive Officer.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 27, 2016, the Board of Directors of Provectus Biopharmaceuticals, Inc. (the “Company”) unanimously voted to terminate Peter R. Culpepper, effective immediately, from all positions held with the Company and each of its subsidiaries, including Interim Chief Executive Officer and Chief Operating Officer of the Company, for cause, in accordance with the terms of his employment agreement based on the results of the investigation conducted by a Special Committee of the Company’s Board of Directors regarding improper expense advancements and reimbursements to Mr. Culpepper.
As previously reported, the Board of Directors has established a search committee to identify a permanent Chief Executive Officer. In the interim, Timothy C. Scott, Ph.D., the Company’s President, will perform the functions of the chief executive officer position in his capacity as President while the chief executive officer position remains vacant.
Item 7.01. Regulation FD Disclosure.
On December 28, 2016, the Company issued a press release announcing the termination of Mr. Culpepper. A copy of the press release is filed as Exhibit 99.1 hereto and is incorporated herein by reference. Pursuant to the rules and regulations of the Securities and Exchange Commission, the information in this Item 7.01 disclosure, including Exhibit 99.1 and information set forth therein, is deemed to have been furnished and shall not be deemed to be “filed” under the Securities Exchange Act of 1934.
