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Dextera Surgical shrinks leadership team under bankruptcy

Dextera Surgical Inc. shrunk its leadership team following its bankruptcy filing and sale of assets.

The California-based surgical device company terminated the employment of CEO and President Julian Nikolchev and COO Thomas Palermo, among others, effective March 1.

Further, Thomas Afzal, Gregory Casciaro, R. Michael Kleine and Samuel Navarro resigned from the board.

To oversee its wind down, Dextera Surgical retained CFO Robert Newell as its sole executive officer, with Michael Bates and Nikolchev as remaining board members.