Imagion Biosystems announced it has initiated plans to separate the role of the Chair from the role of the CEO. The restructuring plan follows from the request of current CEO, Bob Proulx, who has also been serving as Chair and has expressed his intention to retire from the role of CEO. Mr. Proulx's existing 3-year employment agreement expires 30 April 2023.

To provide continuity of leadership for the Company while moving towards separation of roles of the Chair and CEO, the Company has extended Mr. Proulx's employment agreement for a period of one year, to take effect 1 May 2023, at his existing salary with no additional terms of compensation. The Company has retained a recruitment agency for the search of a new CEO, and Mr. Proulx is expected to remain as Chairman of the Board following an appointment of a new CEO.