On March 26, 2026, Nuwellis, Inc. announced the immediate resignations of two board members, Mika Grasso and Katharyn Field, citing significant governance issues and a lack of transparency from the company's management. Both directors expressed their inability to fulfill their fiduciary duties due to persistent obstacles in obtaining necessary information and a pattern of exclusion from key discussions. Grasso's resignation letter highlighted his concerns regarding the company's handling of board meetings and decision-making processes, particularly related to a recent acquisition. Field echoed similar sentiments, detailing her experiences of obstruction and hostility that undermined her role as an independent director. The company has publicly disagreed with the characterizations made by the resigning directors, stating that their allegations contain numerous errors and misleading interpretations. Following these resignations, the board has decided to reduce its size from seven to five members, effective immediately. This situation raises serious questions about the governance practices at Nuwellis, Inc. and could potentially impact investor confidence and stock performance.

Press Release distribution

National Press Distribution across U.S. Media. Direct Access to Key Decision Making Editors.