Biodel Inc. (NASDAQ: BIOD) announced Tuesday it has named Dr. Errol De Souza as the new chairman and CEO to replace company founder Solomon Steiner, according to Associated Press.
The company said De Souza will start serving as president and chief executive officer immediately. Former Glaxo Inc. CEO Dr. Charles Sanders was named chairman.
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Steiner, 72, who will become chief scientific officer, will remain a board member and will focus on developing diabetes treatments.
De Souza, 56, has served as president and CEO of both Synaptic Pharmaceuticals (NASDAQ: SYNA) and Archemix Corp. and currently serves on the boards of several biopharmaceutical companies.
Sanders, 77, was appointed to Biodel's board in 2006. He served for five years as CEO of Glaxo Inc., which is now part of GlaxoSmithKline PLC (NYSE: GSK), and was chairman of the Glaxo board for three years. He is also a former vice chairman of Squibb Corp., now part of Bristol-Myers Squibb Co. (NYSE: BMY).
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