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People in the News: John Runkel, Siang Chin, Tim Barabe

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Affymetrix last week announced the retirement of two top-level executives in connection with its restructuring plans.

John Runkel, the firm's executive vice president and general counsel, will step down from his position at the end of March, Affy said. He will be succeeded by Siang Chin, who has served Affy as vice president and chief corporate counsel since 2007. Prior to joining Affy, she was associated with the law firms of Shearman & Sterling and Slaughter and May.

Tim Barabe, the firm's chief financial officer, also has plans to resign, but will serve in his current capacity until a successor is identified.

Affy announced its plans to restructure the company earlier this month. The company will lay off more than 100 employees, or about 8 percent of its staff, in order to reduce costs and return the firm to profitability (BAN 1/15/2013).

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