Board of Directors has initiated search to identify successor
Office of the President continues to perform the duties of President and CEO
Perry Karsen appointed as Chairman of the Board
REDWOOD CITY, Calif., Jan. 04, 2018 (GLOBE NEWSWIRE) -- OncoMed Pharmaceuticals, Inc. (NASDAQ:OMED), a clinical-stage biopharmaceutical company focused on discovering and developing novel anti-cancer therapeutics, today announced that Chairman, President and Chief Executive Officer Paul J. Hastings resigned from OncoMed to pursue new career opportunities, effective January 1st, 2018.
The board of directors has retained an executive search firm and has initiated a search for a fulltime successor. In the interim, The Office of the President, comprised of Executive Vice President, Research and Development, John Lewicki, and Executive Vice President and Chief Financial Officer, Sunil Patel, will continue to perform the duties of President and CEO. In addition, the Board of Directors has appointed Perry Karsen as Chairman of the Board while Jack Lasersohn, formerly Lead Director, remains a Board Member.
"After twelve fulfilling and successful years of service, it is time for me to step-down from my responsibilities at OncoMed and move to the next stage of professional opportunities available to me," said Mr. Hastings. "I look forward to watching the company and its high caliber team continue to grow and evolve into a late-stage development organization serving the needs of patients with cancer."
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