logo
Plus   Neg
Share
Email

Vertex Pharmaceuticals Fires COO Ian Smith

Vertex Pharmaceuticals Inc. (VRTX) Wednesday said it has fired Chief Operating Officer and interim Chief Financial Officer Ian Smith due to personal behavior that violated the company's code.

Smith's termination is the result of personal behavior that violated Vertex's Code of Conduct and values and is unrelated to the Company's financial and business performance, the company said in a statement.

The company and the Board made this determination following a prompt and comprehensive investigation conducted with the assistance of independent external counsel, WilmerHale.

Paul Silva, Senior Vice President and the Company's Corporate Controller and Chief Accounting Officer since 2008, has been appointed interim CFO, effective immediately, while the Company conducts a formal search to identify a permanent CFO.

"At Vertex, we are deeply committed to our culture of diversity, inclusion and respect, and we insist that all of our employees, regardless of their seniority, live our values and adhere to our Code of Conduct," said Jeffrey Leiden, M.D., Ph.D., Chairman, President and Chief Executive Officer of Vertex. "This decision was not related to any conduct concerning the company's operations or finances."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Target Corp. (TGT) announced a retail collaboration with Walt Disney Co. (DIS) that will open 25 Disney stores within select Target stores nationwide on October 4, with 40 additional locations opening by October 2020. Target will also open a store at Flamingo Crossings Town Center at the western entrance of the Walt Disney World Resort in 2021. Whole Foods Market stores have recalled Decorated Red Apple Cookies as they may contain undeclared egg. People who have an allergy or severe sensitivity to these allergens run the risk of serious or life-threatening allergic reaction if they consume these products. The cookies were sold by the... Norwex has announced voluntary recall of about 58,000 rubber brooms due to laceration hazard. According to the company, handles of the recalled brooms can break in half, exposing a metal inner rim, posing a laceration hazard to the user. The recall involves extendable indoor/outdoor white rubber...
Follow RTT