AstraZeneca's former head of oncology tapped to lead Innate Pharma: 5 things to know

Mondher Mahjoubi will leave his role as head of AstraZeneca's oncology division to serve as the new CEO of Innate Pharma, a French biotech focusing on immuno-oncology therapies, reports Reuters.

Here are five things to know.

1. Mr. Mahjoubi will step into his new role Dec. 30.

2. He will replace Herve Brailly, who is set to become chairman of the company's advisory board.

3. Mr. Mahjoubi will be paid a base salary of 470,000 euros ($490,000) and also receive free shares in the company, according to the report.

4. Before joining AstraZeneca, Mr. Mahjoubi worked at Roche's Genentech unit, where he helped lead oncology strategy.

5. The British drugmaker said Mr. Mahjoubi's successor would be announced shortly, according to the report.

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