On February 1, 2013, Board of Directors of Oculus Innovative Sciences, Inc. appointed Jim Schutz as President and Chief Executive Officer. Mr. Schutz will also continue as a director of company. On February 1, 2013, Hojabr Alimi stepped down from his position as President and Chief Executive Officer.

Mr. Alimi will remain Chairman of Board of Directors to assist during this transitional time. Jim Schutz, age 49, has most recently held the position of Chief Operating Officer and General Counsel, and has served in various other capacities as an executive officer of company since August 2003. He has also served as a director of company since May 2004.