Memory's CEO steps down

Memory Pharmaceuticals' CEO Jim Sulat has announced plans to step down from the position for personal reasons. He will remain the company's part-time CFO. Taking his place for the time being is Vaughn Kailia, who has been appointed interim president and CEO. Kailia is an investor in Memory and a director at the company.

"I will work closely with the management team to review our programs and organizational structure to ensure that they are closely aligned with our goals and that we are well-positioned to achieve our vision for this company. We expect this review to be completed shortly," said Kailia in a statement.

- check out this release for more