Novan President and CEO, Paula Brown Stafford Named Chairman of the Board

• Expanded role of Ms. Stafford as Chairman reflects the Board’s confidence in her leadership of the Company and strategic direction
• Renowned pharmaceutical executive Robert Ingram retiring as Executive Chair and remaining a member of Board of Directors  

MORRISVILLE, N.C., July 28, 2020 (GLOBE NEWSWIRE) -- Novan, Inc. ("the Company" or "Novan") (Nasdaq: NOVN), today announced an expanded role of Paula Brown Stafford, President and Chief Executive Officer (“CEO”) of Novan, to also include Chairman of Novan’s Board of Directors (“Board”). Concurrently, Robert Ingram is retiring as Executive Chairman and will continue as a member of the Board. These changes to the Board are effective as of today, July 28, 2020.

“Since Paula’s appointment as President and CEO of Novan, she has done a tremendous job leading the Company on multiple fronts, including securing the necessary capital to advance the upcoming B-SIMPLE4 pivotal trial, a major inflection point for the Company. She has a clear strategic vision, has demonstrated solid execution, and I believe will propel the Company forward through the next stage of growth. Having been a member of the Novan Board for nearly a decade, I along with my fellow Board members, felt strongly it was appropriate for Paula to assume the role of Chairman as she continues to lead and build momentum. Moving forward, I am pleased to remain a member of the Board and participate in the great strides and many opportunities we expect for the future,” commented Mr. Ingram.

Ms. Stafford has been a member of the Board since August 2017 and has served as the Company’s President and CEO since February 2020, after holding various executive roles including Chief Operating Officer and Chief Development Officer since joining Novan in March 2017.

“On behalf of the Board of Directors, we would like to sincerely thank Bob for his above and beyond contributions and valuable insights while serving as our Executive Chairman since 2016,” added Ms. Stafford. “His expertise in the industry, multitude of business relationships and wise judgment have been instrumental in guiding Novan through many business, developmental and financing milestones. I look forward to continuing to work closely with Bob as a member of our Board.”