FRANKFURT (Reuters) – German biotech firm Evotec on Monday said it had immediately reported trades in its shares by its former CEO over three years, as soon as it was belatedly informed of the transactions in the wake of the executive’s recent departure.
“Evotec has acted always in compliance with the statutory regulations and our own very strict compliance code,” supervisory board Chair Iris Loew Friedrich said in an analyst call.
She added the former CEO had “clearly” not been in compliance with company’s established procedures.
Evotec said on Jan. 3 that CEO Werner Lanthaler would resign for personal reasons after almost 15 years with the company.
(Reporting by Ludwig Burger; Editing by Miranda Murray)