Orexigen names new executive chairman and interim CEO

The company has also announced that Gary Tollefson, current CEO and president, is taking a leave of absence from the company. Dr Tollefson is expected to remain a member of the company’s board of directors during this leave of absence. The board will retain an executive search firm to assist it in recruiting a new, permanent CEO.

Dr Weber is one of the company’s co-founders and has served as a member of its board since the company’s inception in September 2002, and as chairman of the board since March 2004. From September 2002 to September 2003 and from January 2005 to April 2005, Dr Weber served as the company’s president and CEO.

Dr Weber said: “As a founder and former CEO of Orexigen, I know our management team well and understand clearly our objectives as we prepare Orexigen for Phase III results of Contrave in 2009. I look forward to working with the senior management team as interim CEO to continue to execute on the company’s key development objectives until a new, permanent CEO has been brought on board.”