THE WHAT? Amyris has announced that John Melo has resigned from his role as President & Chief Executive Officer, effective immediately. The biotech firm has appointed Han Kieftenbeld as Interim CEO. Kieftenbeld will retain his role as Chief Financial Officer.
THE DETAILS Earlier this month, the company engaged the Business recovery Services unit of PricewaterhouseCoopers to guide its transformation efforts. As part of this process, the company aims to deliver cost savings of US$250 million. T
HE WHY? While no reason was cited for Melo’s resignation, the announcement was made together with an admission that the company would be reducing its workforce, although no details were forthcoming on how many employees would be affected.
Kieftenbeld explains, “We are making tough choices including the decision to implement a reduction in force which we are executing today. We thank our departing employees for their efforts, dedication and contributions to Amyris. I want to thank the Board for placing confidence in me to lead Amyris through this next phase. I will work closely with my leadership team and colleagues globally to set out a path towards profitable growth and sustained cash generation.”
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