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Vifor Pharma director to step down after CEO appointment elsewhere

Vifor Pharma AG said its director Marc Garidel will not stand for re-election at its annual shareholder meeting on May 15.

Garidel's decision results from his appointment as CEO of U.S. biotechnology company Corvidia Therapeutics, Inc.

The Swiss drugmaker added it will nominate Jacques Theurillat for election to the board at the shareholder meeting.

Theurillat served from 2008 to 2015 as CEO of Ares Life Sciences AG, a privately held investment fund for life-sciences companies.