NEW YORK, May 11 (GenomeWeb News) - Icoria CEO Heinrich Gugger resigned, the company said today. The announcement came less than two months after the company sold its agricultural genomics assets for $6.8 million to Monsanto to focus its energy on biomarker discovery.
Gugger, who served as president of Syngenta's crop-protection business before joining Icoria in 2003 when it was known as Paradigm Genetics, will be replaced by Doug Morton as interim CEO. Morton joined Icoria's board in 2004 and its "office of the president," which was formed in March.
In addition to Gugger, Keith Davis, Icoria's vice president of agricultural biotechnology, and Jim Bucci, VP of human resources, will also be leaving Icoria effective June 30.
According to Icoria, Gugger will remain a company director and will consult during a transition period until the end of June and Morton will retain his position as CEO of Southwest Michigan Innovation Center, a biotech incubator, until Icoria has found a permanent CEO.
The company also reported that Barry Buzogany, currently Icoria's vice president, general counsel, and secretary, has been named chief operating officer and Thomas Colatsky, currently vice president of healthcare research, will continue as chief scientific officer
The company attributed the senior level turnover to its decision to focus exclusively on health care.