Ambrilia Biopharma Inc. announced today that its Board of Directors has approved additional measures to effectively reduce costs which resulted in the lay-off of two senior managers, Dr. Philippe Calais, President & Chief Executive Officer, and Ms. Monique Letourneau, Executive Vice-President, Finance & Chief Financial Officer.
Ambrilia also announced that Mr. Richard La Rue has been appointed Interim President & Chief Executive Officer and Mr. Brian Davies has been appointed Chief Financial Officer, effective immediately. Mr. La Rue and Mr. Davies have been employed by Ambrilia as Vice-President, Legal Affairs, Human Resources & Corporate Secretary and Director, Finance & Controller, respectively, since 2001.
Commenting on the lay-offs, Mr. Frederic Porte, Chairman of the Board of Ambrilia, said "On behalf of Ambrilia's Board, I wish to thank Dr. Calais and Ms. Letourneau for their contribution to the Company and wish them the best of success in their future endeavours".