Andrew Long, the drugmaker’s current CFO, will replace Saeed Motahari as chief executive, effective immediately.
Additionally, the drugmaker appointed Andrece Housley, the company’s corporate controller, to serve as CFO in place of Mr. Long.
Venkat Goskonda, PhD, was promoted to chief scientific officer after serving as the company’s senior vice president of research and development.
The leadership changes come as the drugmaker attempts to reinvent itself after details emerged in a racketeering trial against Insys founder John Kapoor and several former executives, who are accused of illegally boosting sales of its fentanyl spray. As a result of the trial, the drugmaker is considering divesting its opioid portfolio.
“We believe that now is the right time to transition leadership and that Andy is an excellent choice to serve as the company’s CEO. Andrece and Dr. Goskonda’s promotions are a reflection of their contributions to Insys,” said Steven Meyer, chairman of the Insys board of directors.
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