The ways it's going, they may not need one much longer.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 19, 2019, Daniel R. Chevallard, Chief Financial Officer of Regulus Therapeutics Inc. (the “Company”), tendered his resignation to the Company in order to pursue other career opportunities, effective July 26, 2019.
On July 21, 2019, the Company’s Board of Directors (the “Board”) appointed Joseph Hagan, the Company’s President and Chief Executive Officer, as the interim principal financial officer and Daniel Penksa, the Company’s Controller, as the principal accounting officer, each effective on July 26, 2019.
Mr. Hagan, age 50, has served as the Company’s President and Chief Executive Officer and principal executive officer since May 2017. Mr. Hagan previously served as the Company’s Chief Operating Officer, principal financial officer and principal accounting officer from January 2016 to May 2017. From June 2011 through December 2015, Mr. Hagan served as the Executive Vice President, Chief Financial Officer and Chief Business Officer of Orexigen Therapeutics, Inc. From May 2009 to June 2011, Mr. Hagan served as Orexigen’s Senior Vice President, Corporate Development, Strategy and Communications. From September 1998 to April 2008, Mr. Hagan served as Managing Director of Amgen Ventures. Prior to starting the Amgen Ventures Fund, Mr. Hagan served as Head of corporate development for Amgen Inc. Before joining Amgen, Mr. Hagan spent five years in the bioengineering labs at Genzyme and Advanced Tissue Sciences. Mr. Hagan has served on the board of directors of Zosano Pharma, a publicly traded biotechnology company, since May 2015 and on the board of Aurinia Pharmaceuticals, Inc., since February 2018. He received an M.B.A. from Northeastern University and a B.S. in Physiology and Neuroscience from the University of California, San Diego.
Mr. Penksa, age 34, has been employed with the Company since June 2015, joining the Company as its Manager of SEC Reporting and SOX Compliance, was promoted to Assistant Controller in May 2018, and was most recently promoted to the role of Controller in July 2019. Prior to his employment with the Company, Mr. Penksa was a Senior Audit Associate with Grant Thornton, LLP from October 2011 to June 2015. Mr. Penksa received a BSBA in Finance, a BSBA in Accounting and an MS in Accounting, all from the University of Nevada, Las Vegas, and is a Certified Public Accountant.
On July 21, 2019, the Board approved the Company’s entry into a consulting agreement with Daniel R. Chevallard, to be effective on July 26, 2019. Pursuant to the consulting agreement, Mr. Chevallard has agreed to assist the Company with finance and accounting matters as reasonably requested by the Company for a period of up to ninety (90) days. Under the terms of the consulting arrangement, Mr. Chevallard will receive $300 per hour for his services.