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Siegel Steps Down as President Emeritus at Affymetrix

NEW YORK (GenomeWeb News) – Sue Siegel has resigned her post as president emeritus of Affymetrix, the company said in a Securities and Exchange Commission filing last week.
 
Siegel, who was named president emeritus last April after resigning as president, will receive a severance package of $675,000 minus what she earned from her base salary of $426,000 since April 2006, Affy said.
 
She will also receive an accelerated vesting of stock options as if she had remained at her job through October 2007.
 
Affymetrix has not disclosed the reason for Siegel’s resignation or said who will replace her as president emeritus.
 
Siegel joined the company in 1998 as vice president of sales and marketing, and was named president and appointed to the company’s board within two years.