BRIDGEWATER, N.J.--(BUSINESS WIRE)--Enzon Pharmaceuticals, Inc. (Nasdaq: ENZN) announced today that its Board of Directors has approved amendments to the Company’s certificate of incorporation and bylaws that will declassify the Board of Directors so that all directors will be elected annually. If approved by stockholders, the annual election will commence with the 2010 Annual Meeting. The Board intends to recommend stockholder approval of the proposed amendments at the 2010 Annual Meeting. At present, the Board consists of three classes, with members of each class elected for staggered three-year terms. All of the directors, with the exception of Victor P. Micati, a current director on Enzon’s Board, who is not standing for reelection, have agreed to stand for election for one year terms at the 2010 Annual Meeting. The Company also announced today that the Board of Directors has appointed Richard A. Young, Ph.D. and Thomas F. Deuel, M.D., as Directors, effective immediately.
