Bavarian Nordic A/S (BVNKF,BAVA.CO) Monday said that its Board of Directors has reached an agreement with the Chief Executive Officer or CEO Paul Chaplin, who has decided to step down for personal reasons. Chaplin will remain in his position through the end of 2026, or until a successor is appointed. The Board has begun the process of identifying his replacement, the company said in an official statement.
The Danish vaccine manufacturing company said that Chaplin joined Bavarian Nordic in 1999 and was appointed CEO in 2014. During his tenure, he oversaw the development of the company's smallpox and mpox vaccine and transformed Bavarian Nordic from a small research-focused organization into a vaccine manufacturer with strong commercial operations across key markets.
Commenting on the developments, Chair of the Board of Directors, Anne Louise Eberhard, said: "On behalf of the Board, I would like to thank Paul for his strong leadership and dedication throughout nearly 30 years. Paul has made a valuable contribution, not only to Bavarian Nordic's scientific advances, but also to recent years' commercial success and to global public health."
On the Copenhagen Stock Exchange, BAVA.CO is down 2.4 percent on Monday's trading at 192.90 Danish Kroner.
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