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Pegasi Energy Resources Corp. has reported changes to its board of directors.
Effective January 28 and January 30, 2014, Alan Gelfand and David Moss, respectively, resigned for personal reasons, effective immediately, as directors of Pegasi. In submitting their resignations, neither Mr. Gelfand nor Mr. Moss expressed any disagreement with the Company on any matter relating to the registrant's operations, policies or practices.
Effective January 31, 2014, the Company appointed Jay Moorin to the Board of Directors of the Company.
Since 1998, Mr. Moorin has served as a founding general partner of ProQuest Investments, a healthcare venture capital firm. From 1991 to 1998, Mr. Moorin served as president and chief executive officer of Margainin Pharmaceuticals Inc., a publicly-traded biopharmaceutical company and also served as chairman of its board of directors from 1996 to 1998. Prior to Margainin, Mr. Moorin held the position of Managing Director of Healthcare Banking at Bear Stearns & Co. Inc. and Vice President of Marketing and Business Development at a division of the ER Squibb Pharmaceutical Company. Currently, Mr. Moorin serves on the board of directors of Eagle Pharmaceuticals (Chairman) and Mevion Medical Systems and is an advisor to DPT Capital Management, LLC, an investment firm and serves as a Trustee of the Equinox Funds Trust. Previously, Mr. Moorin served on the board of directors of numerous public and private healthcare companies. In addition, Mr. Moorin held the position of adjunct senior fellow of the Leonard Davis Institute of Health Economics at the University of Pennsylvania from 1997 to 2012. Mr. Moorin holds a B.A. in economics with distinction from the University of Michigan.
Mr. Michael Neufeld, President and CEO of Pegasi said: "I would like to thank Alan and David for their contribution to the Company and wish them well in their future endeavors. We are pleased to appoint Jay as a non-executive director and welcome the valuable extensive corporate and board level experience that he brings."