Turing Pharmaceuticals Names Interim CEO Following Shkreli Resignation

Following his arrest on securities fraud charges, Martin Shkreli has resigned as CEO of Turing Pharmaceuticals, which already has named an interim replacement.

Ron Tilles, chairman of the privately held biopharmaceutical company’s board of directors since it launched last year, was named acting CEO.

The change of leadership came in the wake of Shkreli’s indictment on seven counts of securities and wire fraud for allegedly defrauding investors in hedge funds, and drugmaker Retrophin of $3.4 million in cash and stock.  Shkreli faces up to 20 years in prison if convicted on all counts.