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MONTREAL — Velan Inc. says Bruno Carbonaro has resigned as chief executive and a director of the company.

The maker of industrial valves says board chair James Mannebach has been named interim CEO.

Mannebach has been a director of Velan since 2018 and board chair since 2020. 

The company also announced that Rishi Sharma has been promoted to chief financial and administrative officer.

Sharma has been chief financial officer of Velan since May 2022. 

He will now oversee all of Velan's administrative functions in addition to his oversight of the financial team.

This report by The Canadian Press was first published Oct. 11, 2023.

Companies in this story: (TSX:VLN)

The Canadian Press