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Galectin Therapeutics Inc. Appoints Thomas A. McGauley As Acting Chief Financial Officer And Extends Term Of Employment Of Maureen E. Foley As Chief Operating Officer

Stocks in this article: GALT

Galectin Therapeutics Inc. (OTC: GALT) (the “ Company”) announced today that it has appointed Thomas A. McGauley as the Acting Chief Financial Officer of the Company, effective March 6, 2012. Mr. McGauley will serve as Acting Chief Financial Officer until the earlier of September 30, 2012 and the time upon which a permanent Chief Financial Officer can be found. Mr. McGauley replaces Anthony D. Squeglia, who will step down from his current role as Chief Financial Officer and leave the Company upon the expiration of his executive employment agreement on March 6, 2012.

Mr. McGauley, age 39, has served as the Company’s Director of Finance and Accounting since 2009. From November 2005 to January 2010, Mr. McGauley was the Director of Financial Reporting at deCODE genetics (a former publicly traded international life sciences company headquartered in Iceland). Mr. McGauley previously spent more than seven years in public accounting, most recently as a manager at PricewaterhouseCoopers, where he specialized in life science companies from 2003 to 2005. He has also served as a Captain and Company Commander in the U.S. Army and Massachusetts National Guard. Mr. McGauley is a Certified Public Accountant and holds a B.S. in Business Administration from Stonehill College.

“The Company is very fortunate to have Tom McGauley step into the role of Acting Chief Financial Officer,” said Dr. Peter G. Traber, CEO. “For the last three years, Tom has been involved in every aspect of the finances of the Company and has demonstrated the expertise and professionalism required for this important role. I would also like to thank Anthony Squeglia for his years of service to the Company. He played an integral role in assisting us in implementing our strategy over the last several years and we wish him continued success in the future.”

In addition, the Company announced today that it has extended the term of the employment agreement of Maureen E. Foley, the Company’s Chief Operating Officer, until June 30, 2012.

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