AVI BioPharma announces changes to board of directors

An agreement has been made by AVI BioPharma, Inc., that will implement changes to its board of directors and leadership team.

The AVI board of directors appointed J. David Boyle II, AVI's chief financial officer, to the additional role of Interim President and chief executive officer. The appointment follows the resignation of Leslie Hudson from the positions of president, CEO and director of the company at the board's request.

"We are pleased to have someone of David Boyle's caliber to serve as Interim President and CEO," Michael Casey, chairman of the AVI board of directors, said. "His knowledge of AVI and his broad industry expertise make David an excellent choice to support and lead AVI during this period. Importantly, David is also joined by a deep senior management team. The Board is confident that with this team and our more than 60 dedicated employees, we will achieve a seamless transition."

A search for CEO candidates will be initiated by the board, which will include both external and internal candidates.

Anthony R. Chase has also joined the AVI board and its nominating and corporate governance committee with K. Michael Forrest stepping down from the AVI Board.

AVI's board, following today's announced changes, is comprised of seven directors, all of whom are independent, including Chase and six incumbent directors - M. Kathleen Behrens, Michael Casey, Christopher Henney, William A. Goolsbee, John C. Hodgman and Dr. Gil Price.