Provectus Biopharma fires Peter Culpepper as interim CEO and COO

US clinical-stage company Provectus Biopharmaceuticals (NYSE: PVCT) has said that, on December 27, 2016, its board of directors unanimously voted to terminate Peter Culpepper, effective immediately, from all positions held with the company, including chief executive and chief operating officer, for cause in accordance with the terms of his employment agreement based on the results of the investigation conducted by the Special Committee of the board regarding improper expense reimbursements to Mr Culpepper.

The previously established search committee is actively searching for a qualified permanent CEO. In the interim, Timothy Scott, will perform the functions of the CEO position in his capacity as president while this post remains vacant.

Dr Scott has been with Provectus since April 2002 and currently serves as its president. Prior to joining Provectus, Dr Scott was a senior member of the Photogen management team from 1997 to 2002, including serving as Photogen’s COO from 1999 to 2002, as a director of Photogen from 1997 to 2000, and as interim CEO for a period in 2000.