Maravai Lifesciences announces plans for William Martin to become CEO in 2023

Maravai LifeSciences (MRVI) announced plans for William Martin, III to serve as president of Maravai’s Biologics Safety Testing Segment beginning December 5 and expects that Martin will assume the role of CEO of Maravai LifeSciences on July 27, 2023. Christine Dolan, the current COO of Maravai’s Biologics Safety Testing Segment, will continue to serve in that role and will report to Martin. Carl Hull, Maravai’s co-founder, will continue to serve as Maravai’s executive chairman and interim CEO. Maravai had previously announced the appointment of Martin to the role of CEO, and his subsequent placement on a paid leave of absence as a result of a lawsuit claiming violation of a noncompetition agreement filed by two of Martin’s former employers, subsidiaries of Danaher (DHR), and one of their affiliates. Martin, Maravai, and the Danaher entities have reached a confidential settlement pursuant to which Maravai and Martin have agreed to limit Martin’s responsibilities for Maravai and preclude his involvement in Maravai’s Nucleic Acid Production Segment through July 26, 2023. The parties also agreed to voluntarily dismiss the lawsuit.