Omega Therapeutics, a leading biotechnology firm, is poised for a significant shift in its executive team. The company, listed on NASDAQ under the ticker symbol OMGA, has announced a forthcoming change in its financial leadership, signaling the planned departure of Chief Financial Officer Joshua Reed.
Effective May 31, 2024, Reed will be stepping down from his role as part of a mutual agreement between him and the company. In accordance with his employment agreement, Reed will be entitled to severance benefits upon signing a separation agreement that includes a release of claims. Furthermore, he will retain the opportunity to exercise his stock options until the first anniversary of his departure.
Taking the helm as the new principal financial officer and principal accounting officer is Barbara Chan. Currently serving as the Senior Vice President of Finance, Chan will assume her new responsibilities on the same date as Reed’s departure. Additionally, she will be appointed as Treasurer from the Effective Date.
Investors and stakeholders have been duly informed of these changes through the company’s recent SEC filing, ensuring transparency in executive transitions and reaffirming Omega Therapeutics’ dedication to its mission of pioneering innovative healthcare solutions.
Chan brings a wealth of experience to her new role, having been a part of Omega Therapeutics since May 2020. Prior to joining the company, she served as the Vice President of Finance and Chief Accounting Officer at Aegerion Pharmaceuticals from June 2016 to December 2019. With a robust background in the pharmaceutical industry, Chan holds both a B.S. and an M.S. in Accounting and Taxation from Bentley University, solidifying her credentials as a seasoned financial executive.
This transition in leadership comes at a pivotal moment for Omega Therapeutics as it continues to advance its pipeline of genomic medicines, aiming to revolutionize disease treatment through gene regulation. The company’s strategic initiatives are further supported by this executive shuffle, which underscores its commitment to strengthening leadership and fostering growth.
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