Strategic shift at Kronos creates CEO vacancy
Kronos Bio (Nasdaq: KRON), a biotech with a presence on the east and west coasts of the USA, has unveiled a major restructuring plan.
Deborah Knobelman will take on the role of interim chief executive, as founder and current chief executive Norbert Bischofberger moves aside. There will also be a significant downsizing, as the cancer firm seeks to address ongoing financial and clinical challenges.
The swingeing cuts will see more than four-fifths of employees made redundant by the end of the year. This comes on top of layoffs made in late 2023 and early 2024, leaving Kronos with a dramatically reduced workforce.
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