Dr. Jeremy Desai, the president and CEO of generic drug maker Apotex Inc., the company founded by deceased Toronto billionaire Barry Sherman, resigned on Friday.
Desai who has been president and CEO of Apotex Inc. since 2014, “resigned to pursue other opportunities,” according to a statement from the company.
A spokesman for the company declined to provide details on Desai’s departure other than to note he left effective immediately and that the company thanks him for his contributions.
Jack Kay, who previously served as CEO for the privately held company, will once again step into the chief executive role while also maintaining his current position as vice-chairman.
Apotex is the pharmaceutical company founded by Barry Sherman in 1974, credited for ushering generics into the Canadian market and cutting consumer drug prices.
Sherman, 75, and his wife Honey, 70, were found dead at their Toronto home in mid-December. Autopsies showed the couple died from “ligature neck compression,” or strangulation and a private investigator has suggested they were murdered.
Today police confirmed they regard the deaths as homicide.
Sherman had stepped down from day-to-day operations at the company five years ago.