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news.US-based pharmaceutical company Pharmacyclics has announced that Christine White, Richard Levy, Miles Gilburne and Richard Miller have resigned as members of the board of directors of the company.
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The remaining members of the board of directors, consisting of Robert Duggan and James Knighton, appointed Minesh Mehta and Glenn Rice to the board. The board further intends to appoint Cynthia Bamdad and David Smith to the board following the expiration of a 10-day notice period pursuant to Rule 14f-1 promulgated under the Securities Exchange Act of 1934, as amended.
The company also announced that Dr Miller has resigned his position as president and CEO of the company. The company also announced that current board member, Mr Duggan, has been appointed as chairman of the board and will become interim CEO of the company, until a permanent replacement for Dr Miller is hired. The board of directors will begin a search for a new CEO immediately.
In addition, Pharmacyclics indicated that Leiv Lea, the company’s CFO, will step down as CFO of the company on or about October 31, 2008.
Both Dr Miller and Mr Lea will, after their resignations as officers of the company, remain as consultants to Pharmacyclics through December 31, 2008 in order to facilitate an orderly transition of leadership.
Mr Duggan stated: “Pharmacyclics has an exceptional team of dedicated employees who have worked hard to build a sustainable portfolio of drugs to fight many diseases. I respect and admire this team and look forward to working together with them in the future.”