Vertex Pharmaceuticals Fires COO Ian Smith

(RTTNews) - Vertex Pharmaceuticals Inc. (VRTX) Wednesday said it has fired Chief Operating Officer and interim Chief Financial Officer Ian Smith due to personal behavior that violated the company's code.

Smith's termination is the result of personal behavior that violated Vertex's Code of Conduct and values and is unrelated to the Company's financial and business performance, the company said in a statement.

The company and the Board made this determination following a prompt and comprehensive investigation conducted with the assistance of independent external counsel, WilmerHale.

Paul Silva, Senior Vice President and the Company's Corporate Controller and Chief Accounting Officer since 2008, has been appointed interim CFO, effective immediately, while the Company conducts a formal search to identify a permanent CFO.

"At Vertex, we are deeply committed to our culture of diversity, inclusion and respect, and we insist that all of our employees, regardless of their seniority, live our values and adhere to our Code of Conduct," said Jeffrey Leiden, M.D., Ph.D., Chairman, President and Chief Executive Officer of Vertex. "This decision was not related to any conduct concerning the company's operations or finances."