Spectrum Pharmaceuticals Announces Termination of CEO Rajesh Shrotriya
Spectrum Pharmaceuticals, Inc. (Nasdaq GS: SPPI), a biotechnology company with fully integrated commercial and drug development operations with a primary focus in Hematology and Oncology, announced that its Board of Directors has terminated Rajesh C. Shrotriya, MD without cause from his position as Chief Executive Officer.
“The Board of Directors thanks, Dr. Shrotriya for his contributions to Spectrum over the past fifteen years,” said Dr. Krassner, Chairman.
Rajesh Shrotiya was the last standing CEO of Indian Origin in Las Vegas to hold a position in a public traded company. In 2016, as Chairman and Chief Executive Officer at Spectrum, he made $2,760,977 in total compensation. Of this total $945,000 was received as a salary, $945,000 was received as a bonus, $608,000 was awarded as stock and $262,977 came from other types of compensation. In 2011, Dr. Shrotriya made the headlines by topping the Las Vegas CEO compensation list with 2011 compensation of over $25 million.
Dr. Shrotriya was the Chairman of the Board and Chief Executive Officer of Spectrum since August 2002 and a director of Spectrum since June 2001. From September 2000 to April 2014, Dr. Shrotriya also served as President of Spectrum. From September 2000 to August 2002, Dr. Shrotriya also served as Chief Operating Officer of Spectrum. Prior to joining Spectrum, Dr. Shrotriya held the position of Executive Vice President and Chief Scientific Officer from November 1996 until August 2000, and as Senior Vice President and Special Assistant to the President from November 1996 until May 1997, for SuperGen, Inc., a publicly-held pharmaceutical company focused on drugs for life-threatening diseases, particularly cancer.
Dr. Shrotriya received an M.D. from Grant Medical College, Bombay, India, in 1974; a D.T.C.D. (Post Graduate Diploma in Chest Diseases) from Delhi University, V.P. Chest Institute, Delhi, India, in 1971; an M.B.B.S. from the Armed Forces Medical College, Poona, India, in 1967.
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