Drug developer Invion says chief executive Greg Collier will take over as interim chairman following the resignation of Brett Heading from the board.
Mr Heading, who was appointed as chairman in April 2015, is moving to international law firm Jones Day as a partner.
"Given this critical intermediate time, the board has determined that the appointment of an interim executive chair is the most appropriate action for continued strong leadership, focused strategic effort, cash preservation and minimal corporate disruption," Dr Collier said.
Invion is currently pursuing further development of its respiratory drug Nadolol, after completing Phase 2 clinincal trials in September, and is talking to several large pharma companies for partnerships.
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