KGIC Inc. announced that it has effected changes to its senior management and Board of Directors effective immediately. The company has appointed Dr. Alex MacGregor as President and Chief Executive Officer, appointed Dr. Alex MacGregor, Martin Bernholtz, Shan Padda and Geoffrey Smith to the Board, with Geoffrey Smith assuming the role of Chairman of the Board, has accepted resignations from each of Shant Poladian, Salim Maherali, James Peterson, Ronald Schwarz and Shawn Klerer as directors of the company, and has accepted Shant Poladian's resignation as Chairman and Chief Restructuring Officer of the company. In addition, Shawn Klerer has stepped down as President and Chief Executive Officer of the company and will instead assume the role of Chief Operating Officer of the company.

Dr. MacGregor is the President, founder and majority shareholder of the Toronto Institute of Pharmaceutical Technology, which was formed in 1992. He brings extensive experience with international students and strong academic affiliations in Canada.