The head of Apotex, the generic drug giant company founded by the late Barry Sherman, has resigned.
Apotex spokesperson Jordan Berman confirmed Friday morning that Jeremy Desai, president and chief executive officer of the company until Friday morning, had resigned “effective immediately” to pursue other opportunities.
Berman gave no further information about Desai’s departure.
Jack Kay, the company’s vice-chairman who spoke at the funeral of Barry and Honey Sherman last month, assumes the role of chief executive officer. Jeff Watson, who was previously president of global generics for the company, has been appointed president and chief operating officer.
Sherman, who founded Apotex in 1974 and built it into a company with more than $2 billion in annual revenue, hadn’t been involved in day-to-day operations since stepping down as CEO five years ago.
Barry and Honey Sherman were found dead in their home last month, in circumstances the police called “suspicious.” Police are expected to update the public on their investigation into their deaths Friday afternoon.