Salix Pharmaceuticals announced that Carolyn Logan has decided to retire as president, CEO and a director of the company, effective Jan. 30, according to a Street Insider report.
Ms. Logan led the company for more than 12 years, and according to Tom D'Alonzo, chairman of Salix's board of directors, Ms. Logan took "Salix from an early-stage commercial company with a market capitalization of approximately $200 million, one product and less than $25 million in annual revenues, to a leading gastroenterology-focused specialty pharmaceutical company with a multi-billion dollar market capitalization, more than 20 products and over $1 billion in annual revenues."
Mr. D'Alonzo will be appointed acting CEO. Ms. Logan will remain a consultant to the company.
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