This is not the first personnel change of Theranos. At the beginning of this year, it also hired UCLA's deputy director of clinical laboratories and a transplant surgeon at Stanford University. Reuters News Network commented that Balwani's departure was the biggest change in the company's leadership after all experiments were suspended in the Northern California lab.
On May 11, the blood test company Theranos, which had been valued at $9 billion and was troubled by the "blood test myth", announced major personnel changes: President and Chief Operating Officer Sunny Balwani resigned and retired, and three new board members Joined.
Sunny Balwani joined Theranos in 2009 and is a member of the company's board of directors. As an old employee of the company, Sunny Balwani is at the forefront of the company. Unlike the high profile of the beauty founder Elizabeth, Balwani has been low-key in charge of company operations and laboratory testing. As the top manager responsible for the company's laboratories, Balwani's resignation was the biggest adjustment to the company's management since Theranos stopped testing in northern California.
Theranos did not announce the reason for Sunny Balwani's resignation. However, in April of this year, CMS (Medicare and Medicaid Services) will be given express or suspended punishment Balwani and Elizabeth two years, the punishment enters into force, they will lose the right to the ownership and operation of laboratory blood tests .
As the saying goes, the old ones don’t come new. While announcing the resignation of Sunny Balwani, three other new board members joined Theranos. The three new directors include Dr. Fabrizio Bonanni, a veteran of biopharmaceuticals. Dr. Bonanni was the executive vice president of Amgen Pharmaceutical, a well-known biopharmaceutical company before retirement in 2013; the other two are the US Centers for Disease Control and Prevention. Director William Foege and former CEO of Wells Fargo Richard Kovacevich. Retreating into the third, Theranos board is facing a big change. In another press release, Theranos said it plans to restructure the company's structure as well as its technical and clinical testing divisions.
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