Sage Therapeutics CFO To Depart Amid Major Restructuring
Sage Therapeutics is undergoing major restructuring, with CFO Kimi Lugchi departing, over 165 employees laid off, and Chris Benecchi assuming the role of Chief Operating Officer (COO).
Sage Therapeutics has announced that its Chief Financial Officer (CFO), Kimi Lugchi, will be departing the company as part of a significant restructuring plan.
In addition to Lugchi’s departure, the company’s leadership will also see other adjustments. Chris Benecchi, who currently serves as Chief Business Officer (CBO), will transition into the role of Chief Operating Officer (COO).
As part of this reorganisation, Sage plans to reduce its workforce by over 165 employees. The layoffs will affect around 55 per cent of the company’s research and development team.