Genelabs' CFO resigns, company names new VP

By Lisa Kerner

Charlotte, N.C., Aug. 25 - Genelabs Technologies, Inc.'s chief financial officer since 2001, Matthew Loar, will be leaving the company on Sept. 1, having accepted a position at an unnamed newly public biotechnology company.

Loar, who came to Genelabs in 1995, said Genelabs' finances are in sound shape and he will remain a company shareholder, according to a news release.

The company said it has begun a search for Loar's replacement.

Genelabs recently named Peter R. Young as the company's vice president of biology.

Young comes from Celera Genomics, where he held the same position. He has also held positions at Sugen, Inc., Dupont Pharmaceuticals, Bristol Myers Squibb and SmithKlineBeecham.

Genelabs is a biopharmaceutical company based in Redwood City, Calif.

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