Exhibit 99.1
Pacific Biosciences Announces New Chief Executive Officer
Christian O. Henry Named Chief Executive Officer
John F. Milligan, Ph.D. Named Chairman of the Board
Ben Gong Named Interim CFO
MENLO PARK, California, August 7, 2020 (GLOBE NEWSWIRE) – Pacific Biosciences of California, Inc. (NASDAQ: PACB), a leading provider of high-quality sequencing of genomes, transcriptomes, and epigenomes, today announced the appointment of Christian O. Henry as President and Chief Executive Officer, effective as of September 14, 2020. Mr. Henry has served on our Board of Directors since 2018, including as Chairman of the Board since March 2020. Dr. John F. Milligan, a Board member since 2013, has been appointed to succeed Mr. Henry as Chairman of the Board, also effective September 14, 2020.
As earlier announced, Dr. Michael Hunkapiller will retire from an active operating role at the end of the year. As of September 14, 2020, Dr. Hunkapiller will assume the position of Senior Fellow focused on technology development until his retirement. Dr. Hunkapiller will also continue to serve on the Board of Directors. Also, as earlier announced, Susan K. Barnes retired as Chief Financial Officer today. The Board of Directors has appointed Ben Gong to serve as interim Chief Financial Officer until the company completes its active search for a new Chief Financial Officer.
“We are fortunate to have someone of Christian’s caliber and experience in the life sciences industry as the next CEO of PacBio. We are thrilled to have him lead PacBio into our next phase of growth,” said Dr. Milligan, newly appointed Chairman of the Board. “Christian brings strategic, operational, and public company experience to PacBio, with a proven track record of driving commercial growth, all qualities that were critical in our search for a CEO. The Board is confident that Christian will build on Mike’s success in making PacBio a leader in genetic sequencing. Furthermore, as a member of PacBio’s board of directors for the past two years, Christian has a solid understanding of our products and markets and can balance our commitment to scientific and engineering innovation with our increasing commercial opportunity. PacBio has ample opportunities to grow and innovate, and we believe Christian is an ideal fit to accelerate this work. We are excited about what the future holds under Christian’s leadership.”
“I know that I speak for everyone at PacBio in thanking Dr. Hunkapiller for his exceptional contributions and dedication to the company. Under his leadership, the company has developed remarkable products and technology which have contributed to significant advances in science and sequencing. I am pleased that he will remain involved with PacBio and will be focused on product and technology development and contributing as a board member,” said Christian Henry. “I am excited to join such a highly talented and innovative team at PacBio. I believe our current and future products will play a significant role in accelerating the use of sequencing technologies in both the research and clinical markets and I look forward to working with our team to expand our presence in these markets.”
