Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
Resignation of Director and Chief Executive Officer
On April 28, 2023, Geoff MacKay provided notice of his resignation as President
and Chief Executive Officer and a member of the Board of Directors (the "Board")
of AVROBIO, Inc. (the "Company"), effective at 1:00 p.m. ET on May 1, 2023. His
resignation is not a result of any disagreement with the Company.
On April 30, 2023, the Compensation Committee of the Board extended the
post-termination exercise period of certain of Mr. MacKay's vested time-based
stock options, as of May 1, 2023, from three months to twelve months.
Appointment of Interim Chief Executive Officer
On April 28, 2023, the Board appointed Erik Ostrowski, the Company's current
Chief Financial Officer and Treasurer, as the Company's President and Interim
Chief Executive Officer, effective at 1:00 p.m. ET on May 1, 2023. In his
capacity as President and Interim Chief Executive Officer, Mr. Ostrowski will
succeed Mr. MacKay as the principal executive officer of the Company, while
maintaining his position as the Chief Financial Officer and Treasurer and
principal financial officer of the Company.
Mr. Ostrowski, 50, has been our Chief Financial Officer and Treasurer since
January 2019. From June 2014 to December 2018, Mr. Ostrowski served as the chief
financial officer of Summit Therapeutics plc., a biotechnology company. Prior to
that, he served as vice president of finance at Organogenesis Inc., a
biotechnology company, from July 2010 to June 2014, and previously worked in
investment banking, most recently as a director with Leerink Partners LLC. Mr.
Ostrowski began his career as an accountant with Coopers & Lybrand (now
PricewaterhouseCoopers). Mr. Ostrowski has served on the board of directors of
Faron Pharmaceuticals Oy (AIM: FARN, First North: FARON) since April 2022. He
received a B.S. in accounting and economics from Babson College and a M.B.A.
from the University of Chicago Booth School of Business.
There are no arrangements or understandings between Mr. Ostrowski and any other
persons in connection with his appointment. There are no family relationships
between Mr. Ostrowski and any director or executive officer of the Company, and
Mr. Ostrowski is not a party to any transaction required to be disclosed
pursuant to Item 404(a) of Regulation S-K under the Securities Act of 1933, as
amended.
The Company has not entered into any material plan, contract, arrangement or
material amendment with Mr. Ostrowski in connection with his appointment as
President and Interim Chief Executive Officer.
Item 7.01 Regulation FD Disclosure.
On May 1, 2023, the Company issued a press release titled "AVROBIO Announces
Leadership Transition." A copy of the press release is furnished as Exhibit 99.1
to this Current Report on Form 8-K.
The information in Item 7.01 of this Current Report on Form 8-K, including
Exhibit 99.1 attached hereto, shall not be deemed "filed" for purposes of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise
subject to the liabilities of that section, nor shall it be deemed incorporated
by reference in any filing under the Securities Act of 1933, as amended, or the
Exchange Act, except as expressly set forth by specific reference in such a
filing.
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Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 AVROBIO, Inc. press release, dated May 1, 2023.
104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.
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