Chiron Names Former Glaxo Exec as CEO

Bloomberg News

Chiron Corp. named Sean Lance as chief executive, tapping a former Glaxo Wellcome executive who was pushed aside in a succession battle to run the British drug maker. The appointment ends a yearlong search as the company sought to replace its current CEO and co-founder, Edward Penhoet, with an executive who's had experience running a large business. Emeryville-based Chiron, the world's second-largest biotechnology company in terms of revenue, employs more than 6,500 people, with plants in the U.S. and Europe. Lance will assume his new job May 1, running Chiron's three business units--diagnostics, therapeutics and vaccines--as well as its research efforts. Chiron shares rose 38 cents to close at $21.44 on Nasdaq.

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