Biogen CEO Michel Vounatsos to step down

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Biogen Inc. BIIB, +1.01% said Tuesday that it is conducting a search to replace CEO Michel Vounatsos, who will stay in his role unless a successor is named. The announcement was made in the company’s first-quarter earnings, which saw Biogen missing Wall Street’s expectations for earnings and revenue. Vounatsos has served as CEO since 2017. Biogen’s stock is down 13.4% this year, while the S&P 500 SPX, +0.15% has declined 12.8%.

This article was originally published by Marketwatch.com. Read the original article here.

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