Novan Inc. (NASDAQ:NOVN) has appointed John M. Gay as its Chief Financial Officer and appointed James L Bierman to the board of directors.
Gay appointed CFO of Novan
Gay is an experienced financing and accounting expert who has served as finance and corporate controllers for more than 20 years. Throughout his career, he has demonstrated a good track record of strategic planning and financial analysis, access to capital markets, and technical and regulatory reporting in a public company. Gay joined the company in 2018 and most recently has been serving as VP finance and corporate controller as well as the company’s Principal Finance Officer and Corporate secretary.
Paula Brown Stafford, the CEO and Chairman of the company stated that John has been a key member of the Novan team since he joined in May 2018, and now he is the ideal candidate to take over the role of CFO. She added that John had proven to be a financial leader capable of executing the company’s financial strategy, which has provided Novan with adequate capital for advancing SB206 in the pivotal Phase 3 B-SIMPLE study in molluscum. This is a potential transformational catalyst for Novan with data expected in Q2 2021.
Bierman to bring vast experience to Novan in financial management
On the other hand, Bierman is an accomplished executive who will bring strategic financial expertise that includes operational and financial strategies, strategic alliances, mergers, acquisitions, investor relations, and enterprise risk management to the board. Ms. Stafford said that they were delighted to welcome Bierman to the board due to his leadership experience as a CEO, CFO, and COO of Owen & Minor. His strategic expertise will be vital in bringing new insight and [perspective to the board.
Bierman has experience as an independent director who has assisted and mentored senior management members and financial executives’ professional growth throughout his career. Stafford affirmed that the two additions will enhance the company’s financial leadership and propel the company to the next growth phase.