Watson Pharmaceuticals Inc.'s founder and former chief executive, Allen Y. Chao, has resigned from the board. He will be succeeded as chairman by Andrew L. Turner, a board member since 1997.
Chao, 62, resigned after the annual stockholder meeting "in order to pursue other business activities," Watson said. Chao founded the Corona-based generic drug maker 25 years ago. He had been CEO from 1985 until September.
Turner, 61, founded EnduraCare Therapy Management Inc. in 2000.