Douglas Larson joins Beyond Air as Chief Financial Officer to facilitate a smooth transition of CFO responsibilities.
FREMONT, CA: Beyond Air names Douglas Larson as Chief Financial Officer, succeeding Douglas Beck starting September 1, 2021. Mr. Beck will continue to serve as a consultant to the company. He will collaborate closely with Mr. Larson and the Beyond Air management team to facilitate a smooth transition of CFO responsibilities.
With over 20 years of worldwide and operational finance leadership expertise, Douglas Larson brings a wealth of knowledge to Beyond Air. From 2001 through 2015, Mr. Larson worked as the Chief Financial Officer of The Scotts Miracle-Gro Company’s International division in Lyon, France. From 2017 until 2020, he worked for DBV Technologies as Vice President, Finance, and Head of Worldwide Controlling, a global clinical-stage biopharmaceutical firm based in France. Mr. Larson has extensive experience in performance management, supply chain finance, forecasting and business modelling, and creating and implementing strategic and financial goals for businesses at various stages of development across a wide global footprint.
“On behalf of the Board of Directors and the entire company, I want to thank Mr. Beck for his commitment to Beyond Air and continued support. Since joining in 2018, Mr. Beck has been instrumental to our success, leading with a forward-thinking mindset and establishing the financial foundation for our future development and growth. He leaves the Company in a strong cash position, and I personally want to thank him for his contributions and wish him the best in his future endeavors,” commented Steve Lisi, Chairman and Chief Executive Officer of Beyond Air. “This transition comes at a time of tremendous momentum for Beyond Air, and I am excited to welcome Douglas Larson to effectively guide the Company through our transition to a commercial stage entity.”
In connection with Mr. Larson's hiring, the Company issued Mr. Larson an inducement stock option award in compliance with Nasdaq Stock Market Listing Rule 5635(c) as an inducement substantial to Mr. Larson's entry into employment with the Company (4). The Inducement Option will be exercisable to purchase 75,000 shares of the Company's common stock on September 1, 2021, at an exercise price equal to the last reported selling price on Nasdaq on September 1, 2021. In accordance with Nasdaq Stock Market Listing Rule 5635(c), the Board's independent pay committee approved the Inducement Option issuance (4). The Inducement Option will vest over four years, with 25 percent of the shares underlying the stock option award vesting on the first anniversary of the grant date and annually thereafter in three equal instalments, subject to Mr. Larson's continued service with the Company through the applicable vesting dates. The terms and conditions of the Company's 2013 Equity Incentive Plan apply to the Inducement Option.