Executive Chairman and CFO Assume Leadership Responsibilities; CEO Search
REDWOOD CITY, Calif., Jan. 30 /PRNewswire-FirstCall/ -- Genelabs Technologies, Inc. (Nasdaq: GNLB) announced today that James A. D. Smith has resigned as President, Chief Executive Officer and Director of the company, effective January 29, 2008. Irene A. Chow, Ph.D., Executive Chairman of Genelabs' Board of Directors, and Frederick W. Driscoll, Genelabs' Chief Financial Officer, will assume leadership responsibilities until a successor is appointed.
Dr. Chow stated, "I want to thank Jim for his dedication and many years of service to the company. We wish him well in his future endeavors. The company has initiated an executive search for a CEO to lead it into the next phase of its development."
"Genelabs is well-positioned to execute on its internal development strategies and to support its collaboration partners -- Gilead, GlaxoSmithKline and Novartis. We are fully committed and confident about our ability to deliver on our business goal of translating research into novel antiviral therapeutics," stated Mr. Driscoll.
About Genelabs Technologies
Genelabs Technologies, Inc. is a biopharmaceutical company focused on
the discovery and development of pharmaceutical products to improve human
health. We have built drug discovery capabilities that can support various
research and development projects. Genelabs is currently concentrating
these capabilities on discovering novel compounds that selectively inhibit
replication of the hepatitis C virus and advancing preclinical development
of compounds from this hepatitis C virus drug discovery program. We also
have late-stage products for hepatitis E vi
|SOURCE Genelabs Technologies, Inc.|
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