Cubist CEO Bonney hands over reins as new buyout rumors circulate

After 11 years at the helm of Cubist Pharmaceuticals ($CBST), CEO Michael Bonney is stepping down and handing the reins to COO and President Robert Perez. But Bonney isn't going away. He's taking the chairman's seat on the board of directors. The transition comes as new reports circulate that Shire ($SHPG)--now free of a deal to merge with AbbVie ($ABBV)--is back in the hunt for a possible takeover. The end of the AbbVie bid will likely come with a $1.6 billion breakup fee, which could be put to new use--like buying other biotechs such as Lexington, MA-based Cubist. The changeup will take place at the end of the year. Release

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