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news.WuXi PharmaTech, a pharmaceutical, biotechnology and medical device R&D outsourcing company, has announced that Benson Tsang, CFO, is leaving the company for personal reasons at the end of February 2009.
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Edward Hu, COO, will serve as acting CFO until a replacement is found. Mr Tsang joined WuXi PharmaTech in 2006 as CFO.
The board has formed a search committee to recruit a new CFO. Mr Tsang has agreed to provide transition services and to assist in recruiting his successor. In the interim, Christine Lu-Wong, vice president of finance, will serve as the company’s principal accounting officer.
Mr Hu joined WuXi PharmaTech in 2007 and has been COO since January 2008. Before joining the company, Mr Hu was COO at Tanox. Mr Hu holds an MBA and an MS in biophysics and biochemistry from Carnegie Mellon University.
Ge Li, chairman and CEO of WuXi PharmaTech, said: “I want to thank Benson for his financial leadership during an important period in our company’s history. He leaves our company on a sound financial footing, with a solid balance sheet and strong long-term growth prospects. Ed Hu’s appointment as interim CFO will ensure a smooth transition as we complete our search.”