Interim CEO of Velan Appointed

Velan Inc. announced that its board of directors has appointed James Mannebach, chair of the board of directors of Velan, as interim CEO of Velan. This appointment follows the decision from Bruno Carbonaro to resign from his positions of president, CEO and director of Velan, effective as of October 10, 2023.

Rishi Sharma has also been promoted to chief financial and administrative officer (CFAO), to oversee all of Velan’s administrative functions in addition to his oversight of the financial team.

“I am honored to be appointed as the interim CEO of Velan and by the support of the Velan Board and the Velan family. I am confident that there will be a seamless transition. I have been working with Velan since 2018 and, over the last years, as the chair of its board of directors, I have met regularly with Velan’s management team and its employees. I have confidence in our team and I am looking forward to contributing to the next chapter of Velan’s story.” said Mr. James Mannebach.

“We congratulate Jim Mannebach and Rishi Sharma on their new appointments,” commented Tom Velan, chairman of Velan Holding Co. Ltd., the controlling shareholder of Velan. “We are supportive of Jim Mannebach taking on the position of interim CEO in addition to his responsibilities as chair.”

Mannebach has been a director of Velan since 2018 and the chair of the board of directors of Velan since 2020. Mannebach is currently CEO of Power-Sonic Corporation, a global provider of power supply and energy storage solutions and managing partner of Blackbird Group LLC, a private equity investment and management firm. Previous roles include positions with IMI PLC’s Precision Engineering business, Roper Technologies and Emerson.

Sharma has been the chief financial officer of Velan since May 2022. Before that, he began his career at Deloitte & Touche, Alstom SA and Bombardier.