Rockwell Medical CEO Russell Ellison Quits; Mark Strobeck Named Replacement

(RTTNews) - Rockwell Medical, Inc. (RMTI), a company focused on iron deficiency and anemia management, said on Friday that its Chief Executive Officer Russell Ellison is stepping down with effect from June 30. Effective from July 1, the company has appointed Mark Strobeck as the new CEO.

Robert Radie, Chairman of Rockwell Medical, said: "Mark's scientific, operational, and business experience along with his successful track record align well with Rockwell's goal to develop and commercialize transformative treatments for iron deficiency in multiple disease states…"

Prior to joining Rockwell Medical, Mark was a Managing Partner at Aquilo Partners, a life science investment banking firm specializing in mergers and acquisitions and strategic partnering transactions.

In connection with his commencement of employment, Mark has granted an inducement award consisting of a stock option to purchase up to 400,000 shares of Rockwell common stock.

The exercise price of the stock option will be equal to the closing price of the company's shares on July 1.