Vertex Pharmaceuticals Inc said on Wednesday it had terminated the employment of its chief operating officer and interim chief financial officer, Ian Smith, citing “personal behavior” that violated its code of conduct.
The termination is effective right away and is unrelated to the company’s financial and business performance, Vertex said.
Paul Silva, the company’s corporate controller and chief accounting officer since 2008, has been designated interim CFO, while the company conducts a search for a permanent replacement.
“At Vertex, we are deeply committed to our culture of diversity, inclusion and respect, and we insist that all of our employees, regardless of their seniority, live our values and adhere to our Code of Conduct,” Chief Executive Officer Jeffrey Leiden said in a statement.
The decision followed an investigation conducted with the assist of an independent external counsel WilmerHale, the Boston-based biotech company said.
Vertex did not specify what the violations were.
Vertex Pharmaceuticals Incorporated, (NASDAQ: VRTX) was trading -3.02% away from its yearly high level, during the last trading session. The last session’s volume was 2,015,422 compared to its average daily volume of 1.60M shares. The company has its outstanding shares of 254.91M. The Healthcarestock showed a change of -2.46% from opening and finally closed at $189.89 by scoring -2.06%.