Jeffrey Yordon, chairman and chief executive officer, will retire from Sagent Pharmaceuticals, Inc. and will remain a member of the board. Frank Kung, Ph.D., a member of Sagent’s Board since 2006, has been named chairman. The company has begun a search for a new CEO. In the interim, an executive management committee has been appointed to lead the company.

Additionally, James Hussey, who served as the company’s president, has decided to leave the company.

Mr. Kung said, “On behalf of the entire board, we want to thank Jeff for his leadership of the Company since its founding nearly a decade ago. He has been instrumental in forging Sagent’s vision and helping to build Sagent into a high growth specialty pharmaceutical company. I will work with management to ensure that the Company continues to build on its strategy and serve the best interests of our shareholders.”

Mr. Yordon said, “It has been an honor to have founded Sagent and to have built it into the successful and growing specialty pharmaceuticals company it is today. I am very proud of our enormous progress and our many accomplishments. I have the highest regard for the Sagent team and continue to have every confidence that the Company’s future is bright. My new role will allow me time to pursue my many personal interests.”