Exelixis Inc. promoted controller Deborah Burke to chief financial officer, replacing longtime CFO Frank Karbe, who left the company in June.
Karbe, the architect of private equity deals and the financial side of R&D collaborations that at one time made the South San Francisco company the envy of the cash-intensive biotech drug-development world, had been with Exelixis (NASDAQ: EXEL) since early 2004.
Karbe received grossed $520,000 in a lump-sum exit payment and is paid $250 per hour in an ongoing consulting arrangement with the company.
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