WuXi PharmaTech's chief financial officer, Benson Tsang is leaving the company at the end of February. Edward Hu, chief operating officer, will serve as acting chief financial officer until a replacement is found.
Mr. Tsang joined the company in 2006 as chief financial officer and made contributions to the company's growth and development, including the successful initial public offering in August 2007, enhancement of the company's financial systems, and relationship building with investors and analysts in both China and the U.S.
Mr. Tsang has agreed to provide transition services and assist in recruiting his successor. In the interim, Christine Lu-Wong, vice president of finance, will serve as the company's principal accounting officer.
Mr. Hu joined the company in 2007 and has been chief operating officer since January 2008. Before joining the company, he was chief operating officer at Tanox, Inc., which was acquired by Genentech in 2007. He has more than a decade of experience in financial positions of increasing responsibility at Merck, Biogen Idec, and Tanox.
"I want to thank Benson for his financial leadership during an important period in our company's history," said Dr. Ge Li, WuXi’s chairman and chief executive officer. "He leaves our company on a sound financial footing, with a solid balance sheet and strong long-term growth prospects. Ed Hu's appointment as interim chief financial officer will ensure a smooth transition as we complete our search."