Maravai LifeSciences Temporarily Reinstates Carl Hull as CEO Amidst Pending Noncompetition Litigation
19 October 2022 - 11:10PM
Executive Chairman and former CEO of Maravai LifeSciences, Inc.
(NASDAQ: MRVI) Carl Hull, has been reinstated as CEO of the company
on an interim basis. Three subsidiaries of Danaher Corporation, two
of which previously employed recently-appointed Maravai CEO William
“Trey” Martin, III, have filed a lawsuit against Martin and Maravai
in the Delaware Court of Chancery alleging that Martin is in breach
of a noncompetition agreement. On October 18, 2022, the Court
issued a temporary restraining order against Martin prohibiting him
from working for Maravai pending a preliminary injunction hearing
that is expected to occur later this year.
“We have complete confidence in Trey and are appalled that
Danaher would seek to leverage a noncompetition agreement to
prevent Trey from advancing his career. Public policy in
California, where Trey is resident and Maravai has its
headquarters, has recognized the unjust impact of similar
contractual restrictions that are intended to limit the mobility of
former employees. We look forward to resolving this matter
favorably and swiftly, so that Trey can continue leading Maravai
through its next stages of growth,” said Carl Hull, Executive
Chairman and Interim CEO of Maravai.
Mr. Martin has been placed on paid leave pending the outcome of
this matter.
Under the renewed leadership of Mr. Hull, Maravai will continue
to serve its customers, employees, and shareholders.
About MaravaiMaravai is a leading life sciences
company providing critical products to enable the development of
drug therapies, diagnostics, and novel vaccines and to support
research on human diseases. Maravai’s companies are leaders in
providing products and services in the fields of nucleic acid
synthesis and biologics safety testing to many of the world’s
leading biopharmaceutical, vaccine, diagnostics, and cell and gene
therapies companies.
For more information about Maravai LifeSciences, visit
www.maravai.com
Contact Information:
Media Contact: Sara Michelmore
MacDougall
+1 781-235-3060
maravai@macdougall.bio
Investor Contact: Deb Hart
Maravai LifeSciences
+ 1 858-988-5917
ir@maravai.com
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