Vermillion this week announced the reappointment of Gail Page as CEO, effective immediately.
In addition, Eric Fung was reappointed senior vice president and chief science officer, also effective immediately. The previous appointment of William Wallen to the board is now effective, the company added, and John Tran was appointed interim vice president of finance and chief accounting officer.
The appointments come on the heel of Vermillion's emergence from Chapter 11 protection after approval of its reorganization plan by US Bankruptcy Court last month. Its OVA1 ovarian cancer diagnostic was cleared by the US Food and Drug Administration in September making it the first proteomics in vitro diagnostic multivariate index assay to receive such clearance [See PM 09/17/09].
Page joined Vermillion in 2004 as president. From 2005 to 2009, she was the firm's president and CEO. In March 2009 she resigned from those positions and became Vermillion's executive chair after it filed for Chapter 11 protection. She will continue as the chair of its board.
Her annual base salary is $375,000, according to documents filed with the US Securities and Exchange Commission.
Fung joined Vermillion in May 2000 as a lead scientist in the Biomarker Discovery Centers. He was promoted to vice president and chief scientific officer in June 2006. He resigned from the firm in March, 2009 and returned to Vermillion as a consultant after OVA1 received FDA clearance. His annual base salary is $275,000.
Wallen was appointed to the board in December 2009. He is currently the chief scientific officer and senior vice president of research and development at Idexx Laboratories. He previously had served on Vermillion's scientific advisory board.
Tran recently served as vice president of finance and chief accounting officer at biopharmaceutical firm, Anesiva. Before that he was director of finance at Kyphon, a medical device company, and was at Medtronic after it acquired Kyphon. His base compensation is $3,240 per week.