Florham Park-based Celularity on Tuesday said it terminated Chief Financial Officer David Beers effective immediately.
The regenerative and cellular medicine company said that letting Beers go was not related to its financial or operating results or any disagreements or concerns regarding the Company’s financial or reporting practices.
Beers will be entitled to the payments and benefits provided therein following a termination without cause.
As of June 10, Celularity appointed Joseph DosSantos, its current senior vice president finance, as the company’s interim CFO while the company conducts a search for a new CFO. DosSantos will continue to serve as the company’s senior vice president finance during his time as interim CFO and will not receive any additional compensation in connection with his role as interim CFO.
The Company also announced that it retained the CFO Squad, a leading financial and business advisory firm providing outsourced accounting and consulting services for emerging to mid-sized companies, to provide support during this interim period, including SEC and financial reporting support services and consulting services to identify opportunities to improve and optimize the Company’s financial processes and systems. The CFO Squad will work under the direction of John Haines, Celularity’s Senior Executive Vice President and Chief Administrative Officer.
