By Katherine Hamilton
AlloVir said its chief executive Diana Brainard is departing and the company has appointed its CFO to take her place.
Brainard's departure became effective Thursday and she resigned as director of the cell therapy company, the company said on Friday. Her resignation did not result from any disagreement with the company related to its operations, policies or practices, AlloVir said.
AlloVir said it plans to give Brainard a lump sum in cash worth 36 months of her base salary, which was $623,432 in 2023, according to a filing. She is also set to receive $100,000 for completing the proposed merger with Kalaris Therapeutics.
To succeed Brainard, AlloVir appointed Vikas Sinha, who has been serving as chief financial officer since 2019. Sinha, 61, co-founded ElevateBio and was previously CFO of Alexion Pharmaceuticals.
Sinha' earned a total compensation of $2.9 million as CFO in 2023. Brainard made a total of $6.1 million as CEO that year.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
December 20, 2024 17:40 ET (22:40 GMT)
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