Biotech and Pharma

Gilead names Milligan as new CEO

Gilead Sciences names Milligan new CEO

Gilead Sciences on Friday announced that, effective March 10, John Milligan, currently president and chief operating officer, will be promoted to CEO and appointed to the board of directors.

Current Chairman and CEO John Martin will assume the role of executive chairman.

Shares of Gilead were off 4 percent in premarket trading following the announcement. (Get the latest quote here.)