Sagimet Biosciences, Inc. Class A (SGMT) has provided an announcement.
The board of a company has decided to expand from seven to nine directors, appointing Tim Walbert and Paul Hoelscher as new directors starting April 1, 2024. Walbert brings extensive experience from Amgen and Horizon Therapeutics, while Hoelscher has a strong financial background from his time at Horizon and OfficeMax. Both are deemed independent under Nasdaq rules and will receive stock options as part of their compensation. Meanwhile, current board members Richard Rodgers and Jinzi Wu, Ph.D., will not seek re-election but will serve until the upcoming Annual Meeting, with Rodgers also stepping down from key committee roles. The company expressed appreciation for their service and is set to use an updated investor presentation in future meetings.
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