Gilead CEO Martin to Step Down, Will Be Replaced by COO
- Martin presided over strategy to acquire, develop hep C drug
- Under Martin, company went from tiny biotech to giant
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Gilead Sciences Inc. Chief Executive Officer John Martin, under whom the company developed one of the fastest-selling drugs of all time, will step down and be replaced by Chief Operating Officer John Milligan.
Martin, 64, will remain as executive chairman. He has served as CEO since 1996, a year when the company’s total market valuation, about $1 billion, was less than the company’s two blockbuster hepatitis C treatments now bring in in a single month.