Aeolus Pharmaceuticals Inc. announced that on May 20, 2013, Russell Skibsted, Senior Vice President & Chief Financial Officer, provided notice that he is resigning from the Company, effective May 31, 2013. Concurrently with Mr. Skibsted's resignation, effective May 31, 2013, the company appointed David Cavalier, an employee of the company and the Chairperson of the company's Board of Directors, to act as interim Chief Financial Officer of the company and as the company's interim principal financial and accounting officer. Mr. Cavalier has been the Chairman of the Board since April 30, 2004, and became a full-time employee of the company in November 2009.

Since 2001, he has been a Principal and the Chief Operating Officer of Xmark Opportunity Partners, LLC.