Pacific Biosciences of California, a provider of high-quality sequencing of genomes, transcriptomes and epigenomes, has announced that Michael Hunkapiller, Ph.D. is retiring as Chief Executive Officer and President by the end of the year, while planning to remain on the Board of Directors.
The company also announced that Susan K. Barnes plans to retire and will be leaving the company in August 2020. Ms. Barnes will continue in her role as Executive Vice President and Chief Financial Officer until that time.
The company said it has active searches under way for both the new CEO and CFO.
“Mike’s leadership at Pacific Biosciences has been essential to the development of the company’s revolutionary long-read sequencing technology and the Board thanks Mike for his contributions over the past 8 years as CEO of Pacific Biosciences,” said Christian Henry, Chairman of the Board. “The Board will be looking for a new Chief Executive Officer who has a track record of significant commercial success and can balance our commitment to scientific and engineering innovation with our increasing commercial opportunity.” Henry also said that the company would like to thank Susan, who has been with the company for more than 10 years, for her leadership and significant contributions.
“Over the past eight years, we have advanced our sequencing technology further than many imagined and I’m proud to say that our systems based on SMRT technology are industry-leading and routinely used in many of the top research centers in the world. I thank all of our employees and customers who have worked so hard to make us the clear leader in long-read sequencing,” said Dr. Hunkapiller. “I wanted to announce my planned retirement as early as possible in order to ensure a smooth transition. As a Board member, I look forward to supporting the new CEO and contributing to the success of the company in any way I can to ensure the company reaches its technological and commercial potential.”