Celgene Corp. said Monday Chairman Bob Hugin will retire, effective Feb. 5, after about two years in the role and 19 years with the company. The biopharmaceutical company said Chief Executive Mark Alles will take on the additional role of chairman in Hugin’s place. Hugin was appointed chairman on March 1, 2016. He had joined the company in June 1999 as chief financial officer. The stock fell 1% in morning trade. It has lost 8.3% over the past 12 months, while the iShares Nasdaq Biotechnology ETF has rallied 30.2% and the S&P 500 has climbed 24.5%.
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