MUKILTEO — The chairman of CombiMatrix is stepping down amid a massive company-wide shift that involves moving shareholder meetings to Irvine, Calif.
The biotechnology company accepted the resignation of board chairman Tom Akin and Chief Operating Officer Brooke Anderson Monday.
The new chairman is Mark McGowan, a board member since January.
Akin’s resignation is the latest step in a massive restructuring within CombiMatrix. The company announced earlier this year it will shift its focus to diagnostics services, calling off a search for a buyer.
“CombiMatrix is at a major inflection point in its development,” said CombiMatrix president Amit Kumar earlier this year. “We have developed and launched a number of valuable diagnostic testing services, and we believe the best use of shareholder capital is to focus on selling and increasing the utilization of those tests.”
Kumar is stepping down as president. A search for a new president and CEO is underway.
The company has a diagnostics subsidiary in Irivine: Combimatrix Molecular Diagnostics. Focus is gradually being shifted to that location, according to Combimatrix statements.
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