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SAN DIEGO, Calif., Oct. 19, 2022 (GLOBE NEWSWIRE) — Executive Chairman and former CEO of Maravai LifeSciences, Inc. (NASDAQ: MRVI) Carl Hull, has been reinstated as CEO of the corporate on an interim foundation. Three subsidiaries of Danaher Corporation, two of which beforehand employed recently-appointed Maravai CEO William “Trey” Martin, III, have filed a lawsuit in opposition to Martin and Maravai within the Delaware Court of Chancery alleging that Martin is in breach of a noncompetition settlement. On October 18, 2022, the Court issued a short lived restraining order in opposition to Martin prohibiting him from working for Maravai pending a preliminary injunction listening to that’s anticipated to happen later this yr.
“We have complete confidence in Trey and are appalled that Danaher would seek to leverage a noncompetition agreement to prevent Trey from advancing his career. Public policy in California, where Trey is resident and Maravai has its headquarters, has recognized the unjust impact of similar contractual restrictions that are intended to limit the mobility of former employees. We look forward to resolving this matter favorably and swiftly, so that Trey can continue leading Maravai through its next stages of growth,” mentioned Carl Hull, Executive Chairman and Interim CEO of Maravai.
Mr. Martin has been positioned on paid go away pending the result of this matter.
Under the renewed management of Mr. Hull, Maravai will proceed to serve its clients, staff, and shareholders.
About Maravai
Maravai is a number one life sciences firm offering crucial merchandise to allow the event of drug therapies, diagnostics, and novel vaccines and to assist analysis on human illnesses. Maravai’s corporations are leaders in offering services within the fields of nucleic acid synthesis and biologics security testing to most of the world’s main biopharmaceutical, vaccine, diagnostics, and cell and gene therapies corporations.
For extra details about Maravai LifeSciences, go to www.maravai.com
