Virgilio, previously the company’s COO, took over as president & CEO on Nov. 2, with no changes made to his current compensation as of yet. GI Dynamics confirmed in a news release that Virgilio’s current executive employment agreement provides for an annual base salary of $350,000.
Additionally, the board of directors for GI Dynamics increased the size of its board to four members and elected Virgilio to fill the newly created vacancy and serve as a member. He will hold that office until the next annual meeting of stockholders and thereafter until his successor is elected.
Virgilio has served as COO for the Boston-based developer of treatments to alleviate the symptoms of type 2 diabetes and obesity since October 2020. He previously held the role of president & GM of Amann Girrbach.