Aquestive Therapeutics, Inc. announced that Keith Kendall, President and member of the Board of Directors of the Company, is leaving the Company. The Board of Directors has appointed Daniel Barber, the current Chief Operating Officer and long-tenured executive of the company, to succeed Mr. Kendall as the President and member of its Board of Directors, effective immediately. The Company and Mr. Kendall entered into a consulting agreement effective upon his departure.

Under the terms of the consulting agreement, Mr. Kendall will assist in the transition of the role of CEO and the execution of the Company's business strategy and operations until the end of the year. Mr. Kendall joined the Company soon after its formation as the Chief Financial Officer. Mr. Kendall's departure is unrelated to the Company's strategy, operations, financial condition, reported financial results, internal controls or disclosure controls and procedures.