HOUSTON, July 9, 2007 (PRIME NEWSWIRE) -- Encysive Pharmaceuticals Inc. (Nasdaq:ENCY) today announced that Gordon H. Busenbark has resigned as Chief Financial Officer of the Company effective July 13, 2007. The Company expects to announce its plans regarding the CFO position over the next several weeks.
As a result of Mr. Busenbark's departure, Richard A. Goeggel, the Company's Corporate Treasurer, will become the Company's principal accounting officer effective upon Mr. Busenbark's resignation. Mr. Goeggel joined the Company in 2001 as Controller and was appointed the Corporate Treasurer in 2006. In March 2007, Mr. Goeggel accepted the additional duties as our European Finance Director. Mr. Goeggel holds an A.B. in Economics as well as an M.B.A. in Accounting and Finance from Cornell University. He is also a certified public accountant.
"I want to thank Gordon for the contributions he has made to our organization and wish him well in his future endeavors," said George W. Cole, President and Chief Executive Officer of Encysive Pharmaceuticals Inc.
The Company plans to announce second quarter financial results and provide a corporate update on Monday, August 6.
About Encysive Pharmaceuticals
Encysive Pharmaceuticals Inc. is a global biopharmaceutical company engaged in the discovery, development and commercialization of novel, synthetic, small molecule compounds to address unmet medical needs. Our research and development programs are predominantly focused on the treatment and prevention of interrelated diseases of the vascular endothelium and exploit our expertise in the area of the intravascular inflammatory process, referred to as the inflammatory cascade, and vascular diseases. To learn more about Encysive Pharmaceuticals please visit our web site: www.encysive.com.
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This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those risks, trends and uncertainties are: our ability to retain key personnel; our ability to execute our revised strategic plan and the impact of reducing our workforce on our strategic plan; the actual costs incurred in our restructuring, as well as more specific risks, trends and uncertainties facing Encysive such as those set forth in its reports on Forms 8-K, 10-Q and 10-K filed with the U.S. Securities and Exchange Commission. Given these risks, trends and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Therefore you should not rely on any such forward-looking statements. Furthermore, Encysive undertakes no duty to update or revise these forward-looking statements. The Private Securities Litigation Reform Act of 1995 permits this discussion.