Discovery Labs CEO resigns, replacement named

Discovery Labs chairman and CEO resigns, names CFO as CEO, board member as chairman

Associated Press

WARRINGTON, Pa. (AP) -- Discovery Laboratories Inc. on Friday announced the resignation of its CEO and named a replacement.

The Warrington, Pa.-based drug developer said W. Thomas Amick, 70, resigned as both CEO and chairman of the board. Amick joined the board in 2004 and became chairman in 2007. He was named CEO in 2010.

The company named John Cooper as his replacement. He becomes president, CEO and a member of the company's board.

Cooper, 54, served as the company's executive vice president and chief financial officer from 2002 to 2010 and was named president and chief financial officer in 2010. Cooper will continue to serve as the company's CFO.

Discovery also named John Leone, 65, as its chairman. Leone joined the company's board in November. He is a former president and CEO of Cambrex Corp. and is currently a partner at Paul Capital Healthcare, Discovery said.

In addition, Discovery named Joseph Mahady, 59, to its board. Mahady had a 30-year career with Wyeth Corp. where, until its acquisition by Pfizer Inc., he served as president of its pharmaceutical business. 

The company also said that Dr. Max Link, 72, and Dr. Antonio Esteve, 55, both resigned from the board. Link had served on the board since 1996 and Esteve had been a member since 2002.

Discovery shares rose 3 cents to $2.37 in morning trading. They have traded in a 52-week range of $1.71 to $5.39.

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