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LUXEMBOURG - Procaps Group, S.A., a company specializing in pharmaceutical preparations, announced the appointment of two new directors to its board following the resignations of two members. The changes are effective as of May 8, 2025, according to a report filed with the SEC today.
Carlos Garcia Iragorri and Manuel Vial are joining the board of the Luxembourg-based company to fill the vacancies left by Roberto Albisetti and Ernesto Carrizosa. The new appointees will serve until the annual general meeting that will approve the accounts for the fiscal year ending December 31, 2025.
The board has determined that both Garcia Iragorri and Vial qualify as "independent directors" under the Nasdaq Stock Market rules. Garcia Iragorri brings over 30 years of experience in the pharmaceutical industry, having held senior roles in companies like Novartis (SIX:NOVN) Pharmaceuticals and Eli Lilly (NYSE:LLY). He has also been actively investing in various ventures since January 2020. Vial has a diverse background in retail and financial services, holding chairman and director roles in several firms in Chile.
Procaps Group has not engaged in any transactions involving the new directors that would exceed the $120,000 materiality threshold since the beginning of the last fiscal year.
The report, based on a press release statement, confirms that the company adheres to the Securities Exchange Act of 1934 requirements, with the filing signed by Melissa Angelini and Camilo Camacho, both serving as Interim Co-Chief Executive Officers of Procaps Group.
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