On March 15, 2019, Tiago Girao notified Cytori Therapeutics, Inc. of his intention to resign from his position as Chief Financial Officer and Secretary, to pursue another opportunity. He will remain with the company as its Chief Financial Officer and Secretary through March 31, 2019. Mr. Girao's departure is not due to a dispute or disagreement with the company or the company's auditors.

On March 15, 2019, the board of directors of the company approved the appointment of Mr. Gary Titus to succeed Mr. Girao as the company's Chief Financial Officer effective April 1, 2019 and subject to certain employment procedures. Mr. Titus has more than 20 years of business experience in the healthcare and biopharmaceutical industries, primarily in senior management and Board of Directors roles.