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Sequenom CEO Schuh Resigns; CFO Zaniboni Named Acting-CEO

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NEW YORK, Feb. 9 (GenomeWeb News) - Toni Schuh has resigned as CEO of Sequenom, the company said last night in a terse statement.

 

Steve Zaniboni, Sequenom's chief financial officer, will take over Schuh's position while the company looks for a permanent replacement, Sequenom said. Schuh has also resigned as a Sequenom director, and the company said it has not yet tapped a replacement.

 

Schuh will remain as a consultant to Sequenom for up to 12 months, the company said.

 

According to  Pharmacogenomics Reporter, a GenomeWeb News publication, Schuh has been under pressure from his board to revive the high-throughout genotyping company after a fling with drug discovery hurt revenue growth and investor confidence, and  nearly cost the company its position on the Nasdaq exchange.

 

Since abandoning its drug-discovery business in August, Sequenom has turned its attention toward selling its flagship MassArray genotyping platform -- which has lagged behind rival instruments -- and has signed on new customers. The San Diego-based company is also attempting to grow its presence in the molecular diagnostics industry, and its share price has also rebounded.

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