Engle named Xoma CEO, lands stock deal

Steven Engle, the former CEO and chairman of La Jolla Pharmaceutical, has been tapped to run Xoma. Engle is replacing Jack Costello, who announced his retirement plans earlier this year. Costello is staying on as non-executive chairman. Engle gains an option to buy 500,000 shares at $5 a share and an option on another 2.1 million shares at Xoma's August 3rd closing price of $7.09.

- see the release on Engle's appointment
- here's the AP report on Engle's new job

ALSO: Abbott COO Richard A. Gonzalez is retiring, and there are no plans to replace him. Report

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