On October 31, 2016, The Female Health Company (FHC) completed a merger transaction with Aspen Park Pharmaceuticals Inc. (APP). The company announced departure of Directors. Four members of FHC's Board of Directors resigned effective upon consummation of the transaction with APP: William R. Gargiulo, Jr., Donna Felch, Andrew S. Love and Sharon Meckes.

Effective upon the consummation of the Transaction with APP, FHC's Board of Directors was set at nine members and six new members were appointed to FHC's Board of Directors: Mitchell S. Steiner, M.D., Harry Fisch, M.D., Elgar Peerschke, Georges Makhoul, Lucy Lu, M.D. and Mario Eisenberger, M.D. Three members of FHC's Board of Directors, O.B. Parrish, David R. Bethune and Mary Margaret Frank, Ph.D., will continue to serve on FHC's Board of Directors. Elgar Peerschke has been appointed as the Chairman of the Board and O.B. Parrish has been appointed as the Vice Chairman of the Board. The members of FHC's Audit Committee are Mary Margaret Frank, Ph.D. (Chair), Lucy Lu, M.D. and Georges Makhoul.

The members of FHC's Compensation Committee are Elgar Peerschke (Chair), Lucy Lu, M.D. and Georges Makhoul. The members of FHC's Nominating and Corporate Governance Committee are David R. Bethune (Chair), Mario Eisenberger, M.D. and Mary Margaret Frank, Ph.D. Effective upon the consummation of the transaction with APP, Mitchell S. Steiner, M.D. was appointed as President and Chief Executive Officer of FHC and Daniel Haines was appointed as Chief Financial Officer and Chief Operating Officer of FHC. In addition, as of October 31, 2016, Michele Greco and Martin Tayler will no longer be executive officers of FHC.