Achillion Pharmaceuticals (NASDAQ:ACHN) has a new nameplate on the door of its CEO's office. The company has tapped Milind Deshpande to be its new president and chief executive in place of Michael Kishbauch, who plans to retire but remain on the company's board. Deshpande will also serve on the board. The CEO transition will be effected over a three-month period.

Deshpande is formerly Achillion's president of research and development and chief scientific officer. He has been with the company since September 2001, serving in a variety of management positions. Kishbauch had been president and CEO since the summer of 2004.

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