CFO leaving....
Merrimack doesn't need further financing as it raised $63 million in April and Mr. Scibetta is bored.
Merrimack is a private company so Scibetta provides very litle financial value besides being able to generate financing and perform treasury related tasks.
Merrimack is a private company and I would assume Scibetta had no or very little equity interest in the company nor the ability to acquire a worth while share of the company.
Merrimack is close to being acquired, partnering, etc. and Scibetta see's the light at the end of his time at Merrimack coming soon.
Merrimack is looking for a more experienced CFO to lead a potential IPO, sale, etc., or Merrimack and Scibetta could not agree on contractual terms.
BioEnvision was able to provide Scibetta a much larger pay package (including options) as its publicly traded and Scibetta wanted the greater responsibility and potential rewards.
Just some of my thoughts.... I look forward to hearing the real reason.
10nis
