Derma CEO Quilty To Leave; Lead Director Wills Named Interim Ex. Chairman

(RTTNews) - Derma Sciences, Inc. (DSCI), a tissue regeneration company focused on advanced wound and burn care, said Stephen Wills, the Lead Director and a member of the Derma Sciences Board of Directors since 2000, has been unanimously appointed by the Board to serve as Interim Executive Chairman and Principal Executive Officer.

The appointment of Wills follows the mutual decision between the Board and Edward Quilty that Quilty will depart from his position of Chief Executive Officer and Chairman. All actions are effective immediately.

Quilty will remain a member of the company's Board of Directors and will also serve as a consultant.

Quilty and the company have entered into a separation agreement and release and a consulting agreement. A special committee of the Board will immediately begin the search for a permanent CEO with the assistance of Korn Ferry, a leading executive search firm.