{"id":407537,"date":"2021-01-04T08:58:28","date_gmt":"2021-01-04T13:58:28","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=407537"},"modified":"2021-01-04T08:58:28","modified_gmt":"2021-01-04T13:58:28","slug":"enzon-pharmaceuticals-inc-ceo-andrew-rackear-to-retire-richard-l-feinstein-enzons-cfo-to-assume-position-of-ceo-and-remain-cfo","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/enzon-pharmaceuticals-inc-ceo-andrew-rackear-to-retire-richard-l-feinstein-enzons-cfo-to-assume-position-of-ceo-and-remain-cfo\/","title":{"rendered":"Enzon Pharmaceuticals, Inc. CEO Andrew Rackear to Retire;\u00a0Richard L. Feinstein, Enzon\u2019s CFO, to Assume Position of CEO and Remain CFO"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">CRANFORD, N.J., Jan.  04, 2021  (GLOBE NEWSWIRE) &#8212; Enzon Pharmaceuticals, Inc. (OTC:ENZN) announced today that Andrew Rackear has communicated to the Board his intent to retire from his role as the Company\u2019s Chief Executive Officer effective February 26, 2021. Andy joined Enzon in 2010 as Vice-President and General Counsel and has served as CEO since 2016. Upon Andy\u2019s retirement, Richard L. Feinstein, Enzon\u2019s Chief Financial Officer, will also assume the role of Chief Executive Officer and Secretary, as well as remain the Company\u2019s Chief Financial Officer. Mr. Rackear will be available as a consultant to the Company following his retirement, as may be needed.<\/p>\n<p>\u201cOn behalf of the Board of Directors, I would like to thank Andy for his leadership and commitment to the company during his over 10 years with Enzon. Andy has led Enzon through its transition from a pharmaceutical company to a lean organization, and now with the completion of our rights offering, poised for future growth,\u201d said Randolph Read, Chairman of the Enzon Board.<\/p>\n<p>\u201cIt has been an honor and privilege leading Enzon through its transformative journey. Following the recent rights offering, the company is in a strong financial position. Under the leadership of the Board and Rick, I have no doubt that Enzon has an impressive and exciting future,\u201d Rackear said.<\/p>\n<p>\n        <u>About Enzon Pharmaceuticals<\/u>\n      <\/p>\n<p align=\"justify\">Enzon is positioned as a public company acquisition vehicle, where it can become an acquisition platform and more fully utilize its net operating loss carryforwards and enhance stockholder value.<\/p>\n<p align=\"justify\">\n        <strong>Cautionary Statement Regarding Forward-Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements that are purely historical, are forward-looking statements, which can be identified by the use of forward-looking terminology such as the words \u201cbelieves,\u201d \u201cexpects,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201cpotential,\u201d \u201canticipates,\u201d \u201cplans,\u201d or \u201cintends\u201d and similar expressions.<\/p>\n<p align=\"justify\">Such forward-looking statements are based upon management\u2019s present expectations, objectives, anticipation, plans, hopes, beliefs, intentions or strategies regarding the future and are subject to risks and uncertainties that could cause actual results, events or developments to be materially different from those indicated in such forward-looking statements. These statements reflect the Company\u2019s current views of future events and financial performance and are subject to a number of risks and uncertainties, including the Company\u2019s ability to use the net proceeds of the rights offering to position itself as a public company acquisition vehicle, and the possibility that the anticipated benefits of the rights offering will not be realized. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. No assurance can be given that the future results covered by the forward-looking statements will be achieved. All information in this press release is as of the date of this press release and Enzon does not intend to update this information.<\/p>\n<p>\n        <strong>For further information, please contact:<\/strong><\/p>\n<p>Andrew Rackear, Chief Executive Officer<br \/>Enzon Pharmaceuticals, Inc.<br \/>20 Commerce Drive\u00a0(Suite 135)<br \/>Cranford, New Jersey\u00a007016<br \/>(732) 980-4500\u00a0<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExOTcxOSMzOTAyMzk0IzIwMDY5NTQ=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/17bc5a64-8490-4227-83dc-689030d21057\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>CRANFORD, N.J., Jan. 04, 2021 (GLOBE NEWSWIRE) &#8212; Enzon Pharmaceuticals, Inc. (OTC:ENZN) announced today that Andrew Rackear has communicated to the Board his intent to retire from his role as the Company\u2019s Chief Executive Officer effective February 26, 2021. Andy joined Enzon in 2010 as Vice-President and General Counsel and has served as CEO since 2016. Upon Andy\u2019s retirement, Richard L. Feinstein, Enzon\u2019s Chief Financial Officer, will also assume the role of Chief Executive Officer and Secretary, as well as remain the Company\u2019s Chief Financial Officer. Mr. Rackear will be available as a consultant to the Company following his retirement, as may be needed. \u201cOn behalf of the Board of Directors, I would like to thank Andy for his leadership &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/enzon-pharmaceuticals-inc-ceo-andrew-rackear-to-retire-richard-l-feinstein-enzons-cfo-to-assume-position-of-ceo-and-remain-cfo\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Enzon Pharmaceuticals, Inc. CEO Andrew Rackear to Retire;\u00a0Richard L. Feinstein, Enzon\u2019s CFO, to Assume Position of CEO and Remain CFO&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-407537","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Enzon Pharmaceuticals, Inc. CEO Andrew Rackear to Retire;\u00a0Richard L. Feinstein, Enzon\u2019s CFO, to Assume Position of CEO and Remain CFO - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/enzon-pharmaceuticals-inc-ceo-andrew-rackear-to-retire-richard-l-feinstein-enzons-cfo-to-assume-position-of-ceo-and-remain-cfo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Enzon Pharmaceuticals, Inc. CEO Andrew Rackear to Retire;\u00a0Richard L. Feinstein, Enzon\u2019s CFO, to Assume Position of CEO and Remain CFO - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"CRANFORD, N.J., Jan. 04, 2021 (GLOBE NEWSWIRE) &#8212; Enzon Pharmaceuticals, Inc. (OTC:ENZN) announced today that Andrew Rackear has communicated to the Board his intent to retire from his role as the Company\u2019s Chief Executive Officer effective February 26, 2021. Andy joined Enzon in 2010 as Vice-President and General Counsel and has served as CEO since 2016. Upon Andy\u2019s retirement, Richard L. Feinstein, Enzon\u2019s Chief Financial Officer, will also assume the role of Chief Executive Officer and Secretary, as well as remain the Company\u2019s Chief Financial Officer. Mr. Rackear will be available as a consultant to the Company following his retirement, as may be needed. \u201cOn behalf of the Board of Directors, I would like to thank Andy for his leadership &hellip; Continue reading &quot;Enzon Pharmaceuticals, Inc. CEO Andrew Rackear to Retire;\u00a0Richard L. Feinstein, Enzon\u2019s CFO, to Assume Position of CEO and Remain CFO&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/enzon-pharmaceuticals-inc-ceo-andrew-rackear-to-retire-richard-l-feinstein-enzons-cfo-to-assume-position-of-ceo-and-remain-cfo\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-04T13:58:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExOTcxOSMzOTAyMzk0IzIwMDY5NTQ=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/enzon-pharmaceuticals-inc-ceo-andrew-rackear-to-retire-richard-l-feinstein-enzons-cfo-to-assume-position-of-ceo-and-remain-cfo\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/enzon-pharmaceuticals-inc-ceo-andrew-rackear-to-retire-richard-l-feinstein-enzons-cfo-to-assume-position-of-ceo-and-remain-cfo\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Enzon Pharmaceuticals, Inc. 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Andy joined Enzon in 2010 as Vice-President and General Counsel and has served as CEO since 2016. Upon Andy\u2019s retirement, Richard L. Feinstein, Enzon\u2019s Chief Financial Officer, will also assume the role of Chief Executive Officer and Secretary, as well as remain the Company\u2019s Chief Financial Officer. Mr. Rackear will be available as a consultant to the Company following his retirement, as may be needed. \u201cOn behalf of the Board of Directors, I would like to thank Andy for his leadership &hellip; Continue reading \"Enzon Pharmaceuticals, Inc. CEO Andrew Rackear to Retire;\u00a0Richard L. 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