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Teligent CEO, Legal Chief Resign Ahead of Bankruptcy Filing

By Dave Sebastian

Teligent Inc. said Thursday that Chief Executive Tim Sawyer and legal chief Philip Yachmetz resigned from the company, effective Oct. 8, ahead of the company’s bankruptcy filing.

The Buena, N.J., pharmaceutical company didn’t specify the reason for the departures.

In connection with the chapter 11 filing, the company said it has named Vladimir Kasparov, managing director at interim management firm Portage Point Partners LLC, as its restructuring chief. It also added Bradley Scher, the founder and managing member of Ocean Ridge Capital Advisors LLC, to its board to enhance the slate’s restructuring expertise.

Teligent’s finance chief, Ernest De Paolantonio, resigned last month for reasons unrelated to any disagreement with the company. It tapped Alyssa Lozynski, a director at Portage Point Partners, as its interim finance chief.

Write to Dave Sebastian at dave.sebastian@wsj.com

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