Bioniche names new CEO

Bioniche (ASX:BNC) has chosen a successor to outgoing CEO Graeme McRae.

Dr Michael Berendt has been named CEO effective immediately. Berendt was most recently president and CEO of Canada’s Aegera Therapeutics, a role he held between 2006 and 2011.

During his career, Berendt has also had roles at Pfizer, Bayer and Research Corporation Technologies. He currently serves as executive chairman of Anchor Therapeutics and chairman of Alethia Biothérapeutiques.

Bioniche last month announced that founder Graeme McRae is stepping down from the CEO role as the company pursues the sale of its animal health and food safety businesses.

McRae will stay on with Bioniche in a consulting role, and as a non-voting chairman emeritus of the company’s board.

McRae announced his departure as the company revealed it had reached a settlement agreement with disgruntled investors who had been standing in the way of the planned division sell-off. As part of the settlement, the two shareholders were given a position on the Bioniche board and on the board’s corporate governance committee respectively.

Bioniche (ASX:BNC) shares were trading unchanged at $0.38 as of around 2 pm on Tuesday.