Berkeley, Calif.-based Dynavax Technologies (NASDAQ: DVAX ) has a new chief executive officer.
On Tuesday, the vaccine manufacturer announced that current CEO Dr. Dino Dina will retire on May 1, and will be succeeded by Eddie Gray, who comes from GlaxoSmithKline, where the doctor had served as president of Pharmaceuticals, Europe, since 2008.
In related news, President Dr. Tyler Martin will be leaving the company shortly thereafter, on May 31. Both Dina and Martin are expected to continue working as "consultants" for unspecified periods following their official departures.
Financial terms of their consulting contracts and details on Dina's compensation plan, however, have not yet been disclosed.
Dynavax shares, which have suffered from a more than 53% drop in market cap over the past year, added to their losses in Tuesday trading, falling 2.1% to close at $2.35.