ImmuCell Embarks on CEO Succession Planning Process
Rhea-AI Summary
ImmuCell Corporation (Nasdaq: ICCC) has initiated a CEO succession planning process as current President and CEO Michael F. Brigham announces his intention to retire from full-time work by early 2026. Brigham, who joined ImmuCell in 1989 and has served as CEO since 2000, will turn 65 this fall.
The Board of Directors has already begun the search process, aiming to identify a new leader by year-end 2025. Brigham's financial responsibilities have been transferred to newly hired CFO Timothy C. Fiori. Brigham plans to remain with the company until a successor is found and will continue serving on the Board of Directors through his term ending in June 2026, with potential extended service subject to stockholder approval.
AI-generated analysis. Not financial advice.
Positive
- Orderly CEO succession planning process initiated well in advance
- Current CEO committed to smooth transition and continued Board service
- Recent CFO hire already completed, reducing transition risks
Negative
- Loss of long-tenured CEO with 35+ years of company experience
- Potential business disruption during leadership transition
- Uncertainty around future strategic direction under new leadership
News Market Reaction – ICCC
On the day this news was published, ICCC declined 10.78%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
PORTLAND, Maine, June 25, 2025 (GLOBE NEWSWIRE) -- ImmuCell Corporation (Nasdaq: ICCC) (“ImmuCell” or the “Company”), a growing animal health company that develops, manufactures and markets scientifically proven and practical products that improve the health and productivity of dairy and beef cattle, today announced that it has commenced a search for a successor in the position of President and CEO.
“I turn 65 this fall and have told my fellow Directors that I would like to retire from full-time work by early 2026,” said Michael F. Brigham, President and CEO. “I originally joined ImmuCell in 1989 and am very grateful to have had the opportunity to serve as the President and CEO of this growing Company since 2000.”
Mr. Brigham’s prior additional responsibilities as principal financial officer have been transferred to the Company’s recently hired Chief Financial Officer, Timothy C. Fiori. The Board of Directors’ search process for a new CEO is already underway with the expectation that Mr. Brigham would be available to help transition his CEO responsibilities as well.
“While there is no set deadline, our goal is to identify and select a top-notch candidate by around year-end, and I am fully committed to the search for a new leader,” continued Mr. Brigham. “I plan to remain until we find the optimal candidate, and I look forward to serving on our Board of Directors through my just elected term ending in June of 2026 and to continued Board service after that, subject to the vote of stockholders.”
About ImmuCell:
ImmuCell Corporation (Nasdaq: ICCC) creates scientifically proven and practical products to improve the health and productivity of dairy and beef cattle. ImmuCell manufactures and markets First Defense®, which provides Immediate Immunity™ to newborn dairy and beef calves, and is developing Re-Tain®, a novel treatment for subclinical mastitis in dairy cows without FDA-required milk discard or pre-slaughter withdrawal label restrictions that hamper traditional mastitis antibiotics. Press releases and other information about the Company are available at: http://www.immucell.com.
| Contacts: | Michael F. Brigham, President and CEO Timothy C. Fiori, CFO ImmuCell Corporation (207) 878-2770 |
| Joe Diaz, Robert Blum and Joe Dorame Lytham Partners, LLC (602) 889-9700 |
Cautionary Note Regarding Forward-Looking Statements (Safe Harbor Statement):
This Press Release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and will often include words such as “expects”, “may”, “anticipates”, “aims”, “intends”, “would”, “could”, “should”, “will”, “plans”, “believes”, “estimates”, “targets”, “projects”, “forecasts”, “seeks” and similar words and expressions. Such statements include, but are not limited to, any forward-looking statements relating to: our plans, goals and strategies for our business; projections of future operational performance; future demand for our products; the timing and outcome of pending or anticipated applications for regulatory approvals; and any other statements that are not historical facts. Such statements involve known and unknown risks and uncertainties that may cause the Company's actual results, financial or operational performance or achievements to be materially different from those expressed or implied by these forward-looking statements. We undertake no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
