Biopharmaceutical company Biodel Inc. (BIOD) Tuesday named Errol De Souza as President and Chief Executive Officer, effective immediately. Further, the company said it appointed Charles Sanders as Chairman, effective immediately.
De Souza succeeds Solomon Steiner, who will become Chief Scientific Officer, devoting his full-time attention to the development of Biodel's product candidates to treat diabetes. Steiner, who co-founded Biodel in 2003 will remain a member of the board too.
Danbury, Connecticut-based Biodel noted that Sanders has been with its board since 2006 and he has served Glaxo as Chairman and Chief Executive Officer.
The newly appointed CEO, De Souza serves as member of board of several biopharmaceutical companies. He has worked as President and Chief Executive Officer of Synaptic Pharmaceuticals, President and Chief Executive Officer of Archemix Corp., Co-founder and Chief Scientific Officer of Neurocrine Biosciences, Senior Vice President and U.S. site head of drug innovation and approval at Aventis and director of CNS diseases research at DuPont Merck.
With the appointment of a non-executive board chairman, Biodel has eliminated the role of lead director, which had been held by Biodel director Scott Weisman.
BIOD shares are currently trading at $4.35 per share, up 0.93% on the Nasdaq.
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