Executive Summary

Cell therapy specialist Aastrom Biosciences will be making several personnel changes over the next few months in a bid to strengthen and expand its senior executive team. George Dunbar, current CEO, president, chief financial officer and a director of Aastrom, will transition out of his day-to-day management responsibilities and is expected to become chairman immediately after the company's annual shareholder meeting, scheduled for December 14. Board director and audit committee chairman Timothy Mayleben will succeed Mr Dunbar as CEO, president and CFO. Nelson Sims, the current chairman of the board, will take on the role of lead director, and assume Mr Mayleben's responsibilities as chair of the audit committee. Ann Arbor, Michigan-based Aastrom is developing autologous adult stem cell treatments for severe chronic cardiovascular diseases.