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Elite Pharmaceuticals COO to step down
May 21st, 2013
NORTHVALE, N.J. – Chris Dick, president and chief operating officer at Elite Pharmaceuticals Inc., plans to leave those posts and the company's board of directors later this month.
Elite said Tuesday that the change will become effective on May 24.
"Elite is an outstanding company with creative and talented employees, and it has been an honor to serve as the company's president and COO," Dick said in a statement. "I am proud of what we have accomplished together. I feel it is the right time for me to pass the baton and let new leadership take the company into its next phase with the abuse deterrent technology. I remain very optimistic about Elite's future."
Plans call for Dick to remain as a consultant with Elite to ensure a smooth transition as the company's board conducts a search for a full-time replacement.
"We thank Chris for his contributions to Elite, especially the passion, dedication and energy he brought to the company every single day," stated Jerry Treppel, Elite's chairman and chief executive officer. "Chris has worked hard to successfully turn the company around through very challenging circumstances, secured two very important patents for our abuse deterrent technology, and advanced the development of this technology through commercial scale up. We appreciate Chris' leadership and the many important strategic initiatives he has achieved for the company."