Benitec Biopharma Ltd. said CEO Greg West and Chief Scientific Officer David Suhy stepped down as part of an organizational restructuring.

Suhy, whose resignation is effective June 22, will remain a consultant of the Australian biotechnology company.

Further, Jerel Banks will transition to to executive chairman from nonexecutive chairman. Banks joined Benitec's board in October 2016.

Additionally, Megan Boston will become executive director and head of operations Australia. She was previously a nonexecutive director.

Benitec said the restructure reflects the growing commitment of Nant Capital LLC, its biggest shareholder. The company added that the changes will heighten its focus on moving its major assets toward the clinic.