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.
Claire Fraser-Liggett has resigned as president of the Institute for Genomic Research and will leave TIGR on April 20, BioCommerce Week sister publication GenomeWeb News has learned.
It was not immediately clear who will take her place at TIGR, which is a division of the J. Craig Venter Institute.
News of Fraser-Liggett’s departure was disclosed in an e-mail sent to JCVI colleagues by Craig Venter, JCVI president and CEO, which said she will leave “to pursue a new position.”
“We are not making a media announcement at this time because she is still in the process of final negotiations regarding her new position,” Venter said in the e-mail.
Investment banking firm Baird announced this week that Franklin Stokes has joined the firm as managing director in the health care investment banking group.
Stokes will be based in the firm’s Chicago office and will advise clients in the biotech and specialty pharmaceutical sectors. He was most recently managing director and head of the specialty and generic pharmaceutical practice at Wachovia Securities.