March 18, 2008
New Exact CEO Could Sell Co.
By Matthew L. Brown
Marlborough-based biotech company Exact Sciences Corp. has asked investment banking firm Leerink Swann LLC to help the company find "strategic alternatives for the business" that could include a sale or merger, according to U.S. Securities and Exchange Commission filings.
The company said it would not discuss the matter further until its board of directors has "approved a definitive transaction."
The company also made some personnel moves related to selling itself.
Patrick J. Zenner, interim president and CEO, stepped down from the position to make way for another interim CEO, Jeffrey R. Luber.
Zenner is executive chairman of the company's board of directors. Luber has been a company president since 2007 and has also been senior vice president, CFO and treasurer, general counsel and secretary.
Luber will also get a seat on Exact Sciences' board of directors.
The company said it would not discuss the matter further until its board of directors has "approved a definitive transaction."
The company also made some personnel moves related to selling itself.
Patrick J. Zenner, interim president and CEO, stepped down from the position to make way for another interim CEO, Jeffrey R. Luber.
Zenner is executive chairman of the company's board of directors. Luber has been a company president since 2007 and has also been senior vice president, CFO and treasurer, general counsel and secretary.
Luber will also get a seat on Exact Sciences' board of directors.
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