A high-tech executive appointed to Chiron Corp.'s board of directors last month resigned today from the embattled biotechnology company.
The Emeryville, Calif.-based company announced the resignation of Richard Wills, chief executive of Beaverton, Ore.-based Tektronix, in a one-sentence press release after the markets closed and provided no other details. Wills and a Chiron spokesman couldn't be immediately reached for comment.
Last week, British regulators barred Chiron from shipping some 48 million flu shots to the United States this season, setting off a public health crisis and sending the company's fortunes into a tailspin. The company warned that its expected annual profits could fall by as much as 75% this year because of the flu-shot debacle, and its stock has lost more than 25% of its value in the last week.
Chiron's share price closed up 51 cents in trading on the Nasdaq Stock Market. It fell 5 cents in after-hours trading.