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Celularity Announces Chief Financial Officer Transition

1. CELU's CFO, David Beers, was terminated without cause effective immediately. 2. Joseph DosSantos appointed interim CFO while a search for a new CFO begins. 3. The company hired CFO Squad for outsourced financial consulting and support services. 4. No financial discrepancies led to the CFO's termination, ensuring stability. 5. Celularity focuses on placenta-derived therapies, emphasizing innovation in regenerative medicine.

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FAQ

Why Neutral?

While a CFO change can be unsettling, the termination was not related to financial issues, suggesting stability. Historical examples show new leadership can stabilize or refresh a company's strategy without immediate adverse effects.

How important is it?

The leadership change is significant but mitigated by the CFO's termination not affecting financial integrity. It could lead to fresh financial strategies enhancing long-term growth.

Why Short Term?

The impact from leadership changes is usually immediate, influencing short-term investor sentiment while longer-term effects will depend on new management's strategies.

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CFO Squad
Celularity retains financial and business advisor to provide outsourced accounting and consulting services during the transition period June 10, 2025 16:15 ET  | Source: Celularity, Inc. FLORHAM PARK, N.J., June 10, 2025 (GLOBE NEWSWIRE) -- Celularity Inc. (Nasdaq: CELU) (“Celularity” or the “Company”), a regenerative and cellular medicine company, today announced that it terminated the employment of its Chief Financial Officer (“CFO”), David Beers, effective immediately. Mr. Beer’s termination was not related to the Company’s financial or operating results or to any disagreements or concerns regarding the Company’s financial or reporting practices. Mr. Beers was terminated “without cause” under the terms of his employment agreement dated April 1, 2022, as amended and restated, and, subject to his compliance with its terms, Mr. Beers will be entitled to the payments and benefits provided therein following a termination without cause. Effective as of June 10, 2025, the Company appointed Joseph DosSantos, its current Senior Vice President Finance, as the Company’s interim CFO while the Company conducts a search for a new CFO. Mr. DosSantos will continue to serve as the Company’s Senior Vice President Finance during his time as interim CFO and will not receive any additional compensation in connection with his role as interim CFO. The Company also announced that it retained the CFO Squad, a leading financial and business advisory firm providing outsourced accounting and consulting services for emerging to mid-sized companies, to provide support during this interim period, including SEC and financial reporting support services and consulting services to identify opportunities to improve and optimize the Company’s financial processes and systems. The CFO Squad will work under the direction of John R. Haines, Celularity’s Senior Executive Vice President and Chief Administrative Officer. About Celularity Celularity Inc. (Nasdaq: CELU) is a regenerative and cellular medicine company developing and commercializing advanced biomaterial products and allogeneic, cryopreserved, placental-derived cell therapies, all derived from the postpartum placenta. Celularity believes that by harnessing the placenta’s unique biology and ready availability, it can develop therapeutic solutions that address significant unmet global needs for effective, accessible, and affordable therapies. For more information about Celularity and its cutting-edge regenerative medicine solutions, please visit www.celularity.com. Contact Carlos RamirezSenior Vice President, Celularity Inc.Carlos.ramirez@celularity.com

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