Dyax (NASDAQ:DYAX) has announced a top-level management change. Its Chief Operating Officer Ivana Magovcevic-Liebisch will leave the company for a senior-level position at another pharmaceutical concern. Her departure is effective March 29.

In the press release announcing the departure, Dyax did not specify a reason, nor did it provide any information on a potential replacement for Magovcevic-Liebisch. It also did not identify the firm she will be working for.

Magovcevic-Liebisch has been at Dyax for 12 years. During this time, she said, "We have built an outstanding team that will continue to execute the Company's business plan and build significant value."

Fool contributor Eric Volkman has no position in Dyax. The Motley Fool has no position in Dyax. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.