Aeterna Zentaris Forms Strategic Review Committee, Appoints Michael Ward As CEO

(RTTNews) - Aeterna Zentaris Inc. (AEZS, AEZS.TO) said that it has formed a special committee of independent directors to consider and evaluate various strategic and financing alternatives available to the Company to maximize shareholder value, including continuing to execute on its existing business plan and/or considering and recommending changes to the Company's management and governance.

The Strategic Review Committee will be chaired by Carolyn Egbert, and includes Michael Cardiff. The Strategic Review Committee is in the course of engaging a financial advisor to assist with this process.

David Dodd has ceased to be the Company's President and CEO with immediate effect. The board of directors of the Company has appointed Michael Ward as the Company's Chief Executive Officer.

Ward has over thirty years of executive and legal experience in the healthcare, pharmaceutical and technology industries. Most recently, Mr. Ward served as Chief Compliance & Legal Officer and Corporate Secretary for Sagent Pharmaceuticals (SGNT), a global specialty generic pharmaceutical company, and led its sale to Nichi-Iko Pharmaceutical Co., Ltd. for $736 million.