WALTHAM, Mass. (AP) -- Biotechnology company ImmunoGen Inc. said Tuesday that Mitchel Sayare, who has led the company for most of its history, will give up his role as chief executive on Jan. 1, 2009.
Sayare, 60, will retain his role as chairman of ImmunoGen's board. Replacing Sayare as CEO will be Daniel Junius, 55. He was named president and chief operating officer in July, and has been nominated for a seat on the board of directors.
ImmunoGen was founded in 1981, and Sayare became CEO in 1986. The company went public in 1989, and Sayare gained a seat on the board the same year. Junius joined as chief financial officer in 2005.
