MUKILTEO — The chairman of CombiMatrix is stepping down amid a massive company-wide shift that involves moving operations to California.
The biotechnology company accepted the resignation of board chairman Tom Akin and Chief Operating Officer Brooke Anderson on Monday.
The new chairman is Mark McGowan, a board member since January.
Akin’s resignation is the latest step in a significant restructuring within CombiMatrix. The company announced earlier this year it would shift its focus to diagnostic 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 chief executive is underway.
The company has a diagnostics subsidiary in Irvine, Calif., called Combimatrix Molecular Diagnostics. Focus is gradually being shifted to that location, according to Combimatrix statements.
The company also announced Monday that its shareholder meeting this month will take place in Irvine.
Read Amy Rolph’s small-business blog at www.heraldnet.com/TheStorefront. Contact her at 425-339-3029 or arolph@heraldnet.com.
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