Business
Maravai LifeSciences Announces Updated CEO Leadership Transition Plans
Maravai announces plans for William “Trey” Martin, III to serve as President of its Biologics Safety Testing Segment and its expectation that he will then
About this update from Maravai Lifesciences Holdings, Inc.
[{"type":"text","content":"Maravai announces plans for William “Trey” Martin, III to serve as President of its Biologics Safety Testing Segment and its expectation that he will then assume the role of Maravai’s CEO in July 2023 Carl Hull to continue to serve as Executive Chairman and Interim CEO SAN DIEGO, Dec. 01, 2022 (GLOBE NEWSWIRE) -- Maravai LifeSciences, Inc. (NASDAQ: MRVI), a global provider of life science reagents and services to researchers and biotech innovators, announced plans for William “Trey” Martin, III to serve as President of Maravai’s Biologics Safety Testing Segment beginning December 5, 2022, and expects that Martin will assume the role of Chief Executive Officer of Maravai LifeSciences on July 27, 2023. Christine Dolan, the current Chief Operating Officer of Maravai’s Biologics Safety Testing Segment, will continue to serve in that role and will report to Martin. Carl Hull, Maravai’s co-founder, will continue to serve as Maravai’s Executive Chairman and Interim Chief Executive Officer. Maravai had previously announced the appointment of Martin to the role of Chief Executive Officer, and his subsequent placement on a paid leave of absence as a result of a lawsuit claiming violation of a noncompetition agreement filed by two of Martin’s former employers, subsidiaries of Danaher Corporation, and one of their affiliates. Martin, Maravai, and the Danaher entities have reached a confidential settlement pursuant to which Maravai and Martin have agreed to limit Martin’s responsibilities for Maravai and preclude his involvement in Maravai’s Nucleic Acid Production Segment through July 26, 2023. The parties also agreed to voluntarily dismiss the lawsuit. “We are thrilled to have Trey rejoin Maravai’s executive team as President of our Biologics Safety Testing Business,” said Carl Hull, Executive Chairman and Interim Chief Executive Officer of Maravai. “We remain extraordinarily confident in his leadership.” “I am excited to resume my work at Maravai as President of our Biologics Safety Testing Business, which is the gold standard for products and services that ensure the purity of biologic drugs,” said Mr. Martin. “I’m honored and delighted to have the opportunity to lead this business.” About Maravai Maravai is a leading life sciences company providing critical products to enable the development of drug therapies, diagnostics and novel vacc...