Without a new board of directors and a new strategy things could have gone very wrong. Billions would have been lost in shareholders’ value and focus on the most promising project would have been too weak. That’s why we react as we do; with a total restructuring of the company, replacement of the management and massive lay-offs of employees.
That was the unflinching an unambiguous message to the shareholders from the new chairman of the board in the Canadian- and Nasdaq-listed biotech company QLT.
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