Zymeworks re­places half its C-suite, aims to lay off 25% of to­tal work­force as new CEO takes over

New Zymeworks CEO Ken­neth Gal­braith is aim­ing to hit the ground run­ning when his tenure of­fi­cial­ly be­gins next month, but he’ll be do­ing so with a much dif­fer­ent look­ing team.

In a lengthy press re­lease out­lin­ing the biotech’s 2022 goals, Gal­braith said Zymeworks will be lay­ing off at least 25% of its staff over the course of the year. Half of its C-suite will al­so be re­placed im­me­di­ate­ly as Gal­braith looks to re­make the com­pa­ny in his im­age af­ter Ali Tehrani, Zymeworks’ founder and CEO since 2003, stepped down two weeks ago.

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