• Acrux CEO Michael Kotsanis to retire after over 10 years in the role
• Kotsanis led the development and implementation of the company's generic drug strategy
• Acrux has developed and received approval for 6 products from the US FDA in the last 4 years

Acrux Limited (ASX:ACR) has announced that its Chief Executive Officer and Managing Director, Michael Kotsanis, has decided to retire. Kotsanis has been in the role for over 10 years and has successfully developed and implemented the company's generic drug strategy. Under his leadership, Acrux has developed and received approval for six products from the United States FDA over the last four years. The company has also established a highly qualified team and processing methodologies that provide the capability to execute advanced topical drug development. Acrux Chairman, Ross Dobinson, praised Kotsanis' achievements and the strong position the company is now in, with a solid pipeline of products and a strong Board and management team. Kotsanis will continue in his role until a successor is appointed and will work with the Board and his successor to ensure an orderly transition. The Board has initiated a search process for a new Chief Executive Officer who will lead the next phase of the company's development and growth.