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IBIO > SEC Filings for IBIO > Form 8-K on 5-Dec-2013All Recent SEC Filings

Show all filings for IBIO, INC.

Form 8-K for IBIO, INC.


5-Dec-2013

Change in Directors or Principal Officers


Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 5, 2013, iBio, Inc. (the "Company") appointed Mark Giannone, age 57, to serve as Chief Financial Officer of the Company, replacing Scott Kain, whose departure was effective November 30, 2013.

Mr. Giannone has been a member of the accounting firm of Bosco Giannone LLC since its formation in 1999. His prior experience included employment as a senior accountant at Kenneth Leventhal & Co. (acquired by Ernst &Young LLP) and as a tax manager at BDO Seidman, a lecturer in various continuing education programs for the New York State Society of Certified Public Accountants and New York University.

There is no arrangement or understanding between Mr. Giannone and any other person, pursuant to which Mr. Giannone was to be selected as an officer. Mr. Giannone is not a party to any transactions that would require disclosure under Item 404(a) of Regulation S-K.

The Company is in the final stages of selecting a full service, outside accounting firm to provide financial, tax, regulatory and accounting services to the Company on an outsourced basis, which will be managed for the Company by Mr. Giannone. The Company believes the increasing complexity of the Company's activities from recent developments, including its recently commenced Brazilian subsidiary business and various forms of collaboration being developed with third parties to implement product development, can be more effectively managed with these new arrangements for the execution of the Chief Financial Officer functions.

Mr. Giannone will be employed on an at-will basis, with his compensation to be set based on the allocation of duties between him and the outside firm.

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