Dr. Michael Gross, a disgruntled shareholder of immunotherapy specialist IMV (NSDQ:IMV), has launched an offensive intended to cause a leadership shakeup at the company.
Gross released a press release on June 1 announcing his plans to oust the company’s board chair Andy Sheldon and the chair of the board’s compensation committee, Julia Gregory.
The director must receive a majority of shareholder votes to retain his role.
IMV will hold an annual general meeting on June 18.
On June 4, Gross released a new press release stating that he had the support of approximately 25% of the outstanding common shares of IMV.
Gross also stressed that he believes in IMV’s potential.
An IMV spokesperson said the company’s management is aware of the concerned shareholder but had no further comment. The company has made recent changes to its board, installing Dr. Michael Kalos and Kyle Kuvalanka. Kalos is an expert in T-cell therapy and immunotherapy…