Arvinas Inc., a New Haven-based biotechnology company, said Wednesday that its CEO and president plans to retire once a successor is found.
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Arvinas Inc., a New Haven-based biotechnology company, said Wednesday that its CEO and president plans to retire once a successor is found.
The company announced John Houston, who also serves as chairman, has informed the board of directors that he plans to retire as president and CEO following a search for and appointment of a new chief executive.
The board has begun searching for a new CEO, and said Houston will remain as board chair after retiring from his other roles.
Arvinas, headquartered at 5 Science Park in New Haven, is a clinical-stage biotechnology company working on treatments for breast and prostate cancers.
Houston has more than 35 years of experience in the pharmaceutical and biotech industries. He joined Arvinas in January 2017 as president of research and development and chief scientific officer, responsible for leading the discovery, translational and early clinical development research efforts.
He was promoted to president and CEO in September 2017, and added the title of board chair in 2023.
“On behalf of the Arvinas board of directors, I sincerely thank John for his exceptional leadership and significant contributions to Arvinas over the past eight years and his commitment to a smooth transition as we identify his successor,” said Dr. Briggs Morrison, board member and lead independent director.
Briggs added that the board is “committed to conducting a thoughtful search” for a new chief executive, “to ensure continued strong leadership.”
In May, Arvinas announced it was cutting 131 employees, or about a third of its workforce. The layoffs, which include 92 Connecticut residents, were intended to “streamline operations across the organization and enable the efficient progression of the company’s portfolio.”
Arvinas also said it was removing two Phase 3 trials from its vepdegestrant development plan in the wake of “mixed data.” Vepdegestrant, a breast cancer treatment, is being jointly developed by Arvinas and Pfizer Inc.
Arvinas signed a blockbuster $2.4 billion deal with Pfizer in 2021.
