Arbutus Biopharma's Entire Board Replaced as New CEO Steps In

Dow Jones

25 Feb

By Dean Seal

All seven members of Arbutus Biopharma's board have resigned and been replaced by five new members, including the company's new chief executive.

The virology-focused biotech company said Tuesday that Lindsay Androski, chief of the nonprofit Roivant Social Ventures, is now the company's chief executive and chairperson of the board.

Androski takes over for Michael McElhaugh, who had been serving as interim CEO since the retirement of William Collier at the end of 2023.

McElhaugh, Chairperson Frank Torti and fellow directors Daniel Burgess, Richard Henriques, Keith Manchester, James Meyers and Melissa Rewolinski have all stepped down from the board. Their departures weren't the result of a disagreement with the company or any matters relating to its operations, policies or practices, according to a securities filing.

Robert Alan Beardsley, Joseph Bishop, Matthew Gline and Anuj Hasija have been appointed to take their place on the board, which has been reduced to five members, with Androski at the helm. Arbutus said it is open to bringing on more directors and may expand the board in the coming months.

Arbutus said it will temporarily stop participating in investor meetings and conferences while the new leadership reviews development plans and strategic options for the company's hepatitis B programs.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

February 25, 2025 07:47 ET (12:47 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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