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Wellgistics Health, Inc. (NASDAQ:WGRX) reported a series of executive changes this week, according to a press release statement and a filing with the U.S. Securities and Exchange Commission. The changes come as the company faces significant challenges, with InvestingPro data showing the stock trading near its 52-week low of $0.61 and the company’s financial health rated as WEAK.
On Monday, Brian Norton resigned as Chief Executive Officer of the company, effective at 5:00 p.m. EST. The same day, Tony Madsen resigned as Chief Operating Officer, effective at 8:00 p.m. EST. Additionally, Mark DiSiena resigned as Chief Financial Officer, effective at 5:00 p.m. EST on Monday. These departures follow a challenging period for Wellgistics, with the stock declining over 81% in the past six months and current market capitalization standing at approximately $65 million.
The company’s board of directors appointed Eric Sherb as interim Chief Financial Officer on Tuesday. According to the filing, Sherb, age 38, is currently the chief financial officer of Crown Reserve Acquisition Corp. I and has 16 years of experience in accounting advisory, auditing, and mergers and acquisitions. His previous roles include positions at PricewaterhouseCoopers, RBSM LLP, and CFGI, as well as serving as founder and owner of EMS Consulting Services, LLC since October 2018. Sherb has worked with several NASDAQ and OTC clients, most recently Scienture Holdings (NASDAQ:SCNX).
The company entered into a consulting agreement with EMS Consulting Services, Inc., an entity controlled by Sherb, effective September 8, 2025. The agreement, which was amended to reflect his new role as interim CFO, provides for compensation at $185 per hour for CPA services and $80 per hour for bookkeeping or controller team services. Either party may terminate the agreement at any time.
The company stated that there are no family relationships or related party transactions between Sherb and any directors or executive officers that would require disclosure under SEC regulations. InvestingPro subscribers have access to additional insights about Wellgistics Health , including 10+ more exclusive ProTips and comprehensive financial metrics that can help assess the impact of these management changes.
Wellgistics Health is incorporated in Delaware and its common stock is listed on the Nasdaq Capital Market under the symbol WGRX. The information is based on a press release statement and the company’s SEC filing.
In other recent news, Wellgistics Health, Inc. has announced a $5 million public offering, pricing 7,142,862 shares of common stock with accompanying warrants at $0.70 per share. The warrants are immediately exercisable and will expire five years after issuance. Additionally, Wellgistics Health has terminated its equity purchase agreement with Hudson Global Ventures, LLC, signaling a strategic shift towards more accretive financing options. In a move to enhance accessibility, the company has partnered with TheracosBio to expand the distribution of the diabetes medication Brenzavvy across the United States. This collaboration will leverage Wellgistics Health’s extensive pharmacy network. Furthermore, the company has reported changes to its board of directors, with Rebecca Shanahan and Michael Peterson being removed. These changes reflect a broader strategic realignment within the company.
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