AUS
NZ
UK
CA
USA
IND
Precision BioSciences, Inc. announced key executive leadership changes effective August 1, 2026. Alex Kelly, serving as Chief Financial Officer since May 2021, has been promoted to Chief Operating Officer with an increased annual base salary of $510,000. Naresh Tanna, formerly Vice President of Investor Relations and Chief of Staff, has been appointed as the new Chief Financial Officer with a base salary of $400,000. Additionally, Mei Burris has been promoted to principal accounting officer and Chief Accounting Officer.
Key Points
- NASDAQ: DTIL
- Alex Kelly advances from CFO to COO, effective August 1, 2026
- Kelly's base salary raised to $510,000 with a 45% target annual bonus; Naresh Tanna named CFO with $400,000 base salary and 40% target bonus
- Mei Burris appointed principal accounting officer and Chief Accounting Officer, continuing as Vice President of Finance
Alex Kelly's Promotion to Chief Operating Officer
On July 23, 2026, Precision BioSciences' Board of Directors approved Alex Kelly's promotion to Chief Operating Officer, effective August 1, 2026. Kelly, aged 60, has served as Chief Financial Officer since May 2021. The promotion was mutually agreed upon and not due to any disagreements concerning the company's operations, policies, or accounting practices.
Alongside this promotion, the Compensation Committee approved an increase in Kelly's annual base salary to $510,000, with a target annual bonus of 45% of his base salary. No other changes were made to his employment terms. This adjustment reflects his expanded operational leadership responsibilities within the gene editing firm.
Naresh Tanna Named Chief Financial Officer
Effective August 1, 2026, Naresh Tanna, age 45, was appointed Chief Financial Officer. Previously, Tanna served as Vice President of Investor Relations and Chief of Staff since joining Precision BioSciences in January 2022. In those roles, he managed investor relations, strategic initiatives, commercial strategy, and business intelligence, contributing significantly to the Senior Leadership Team and the company's in vivo gene editing programs.
As CFO, Tanna will lead financial planning, reporting, investor relations, and corporate communications. Before joining Precision BioSciences, he was Global Oncology Marketing Director at Amgen Inc. from January 2020 to January 2022. Tanna has over 20 years of experience in oncology, infectious diseases, and rare diseases, with leadership roles at Amgen Inc., AbbVie Inc., Celgene Corporation, and Eli Lilly and Company. Earlier, he worked as a life sciences consultant at Trinity Partners and Clarkston Consulting.
Educational and Professional Credentials of Naresh Tanna
Tanna holds an MBA from IESE Business School and a Bachelor of Science in Biomedical Engineering and Political Science from Rutgers School of Engineering. He also earned a CFO certificate from The Wharton School, University of Pennsylvania, enhancing his financial leadership expertise. There are no arrangements or understandings with other parties regarding his appointment.
Under his employment agreement, Tanna will receive a $400,000 base salary with a 40% target annual bonus, pro-rated for 2026 based on his start date. The full employment agreement will be filed with the company’s Form 10-Q for the quarter ending September 30, 2026.
Mei Burris Appointed Principal Accounting Officer and Chief Accounting Officer
Mei Burris, age 40, was designated as principal accounting officer and Chief Accounting Officer effective August 1, 2026. Burris has been Vice President of Finance since November 2024 and has been with Precision BioSciences since February 2019. She has held progressively senior roles including Senior Director of Finance and Corporate Controller, Director of Investor Relations and Finance, and Director of Financial Reporting.
In her expanded role, Burris oversees technical accounting, accounting policy, internal controls, and external financial reporting. Prior to joining Precision BioSciences, she held senior accounting roles at Heat Biologics, Inc. (now Scorpius Holdings, Inc.) and Cempra Pharmaceuticals, Inc. (now CorMedix Therapeutics, Inc.). Burris is a Certified Public Accountant and holds a Bachelor of Science in Business Administration from West Virginia University. Her compensation remains unchanged with this designation.
Executive Leadership Team Restructuring and Organizational Updates
Following these appointments, Precision BioSciences’ executive team as of August 1, 2026, includes Michael Amoroso as President and CEO, Naresh Tanna as CFO, Alex Kelly as COO, Cassie Gorsuch, Ph.D., as Chief Scientific Officer, and Dario Scimeca as Chief Legal Officer and Corporate Secretary. Research functions have been consolidated under Dr. Gorsuch as part of the restructuring.
This reorganization aligns with the company’s strategic focus on advancing its wholly owned in vivo gene editing programs. It centralizes research leadership while clarifying operational and financial reporting lines. Kelly’s COO role will oversee operational execution, while Tanna will concentrate on financial management and capital allocation. These changes aim to strengthen management as the company progresses its gene editing therapeutics.
Details of CFO Compensation and Employment Terms
Tanna’s employment agreement specifies a $400,000 base salary with a 40% target bonus, pro-rated for 2026. The full agreement will be disclosed in the company’s quarterly Form 10-Q filing for the period ending September 30, 2026. This compensation package is consistent with industry standards and reflects Tanna’s extensive experience across commercial and financial leadership in biopharma.
Alex Kelly’s CFO Tenure and Career Advancement
Kelly has served as Precision BioSciences’ CFO since May 2021, guiding financial strategy during a pivotal phase for the company’s gene editing programs. His promotion to COO acknowledges his financial leadership and the Board’s confidence in his ability to manage broader operational responsibilities. The salary increase to $510,000 with a 45% bonus target corresponds to his expanded role.
The transition was mutually agreed upon without any disagreements related to company operations or accounting. This move represents a natural progression leveraging Kelly’s expertise to support the company’s strategic initiatives in gene editing therapeutics.
Leadership Transition Timeline and Public Disclosure
The Board approved these leadership changes on July 23, 2026, with an effective date of August 1, 2026, allowing a transition period to ensure continuity. The company publicly announced the changes on July 27, 2026, via a press release filed as an exhibit to the disclosure.
This staggered timeline follows standard corporate governance, with the press release issued under Regulation FD. The release is incorporated by reference but not deemed "filed" under Section 18 of the Securities Exchange Act of 1934, nor incorporated into other filings except as specified.
Absence of Disputes or Controversies in Leadership Changes
The filing confirms that these leadership appointments were not prompted by any disagreements with the company or Board regarding operations, policies, or accounting practices. This assures investors that the changes are part of planned organizational development rather than reactions to issues.
There are no arrangements or understandings with other parties concerning these appointments. Tanna’s prior involvement since January 2022 and Burris’ long tenure since 2019 support continuity and stability in the company’s financial and accounting leadership during this transition.
