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Zai Lab Ousts COO Josh Smiley

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Zai Lab (HKG:9688) president and chief operating officer Josh Smiley is being let go by the biopharmaceutical company after three and a half years in the role, according to a Friday statement with the Hong Kong bourse.

Zai Lab founder and chief executive Samantha Du will take over Smiley's responsibilities, the firm said.

The company stated that the leadership transition is part of an ongoing strategy to streamline operations and enhance performance efficiency.

Smiley was previously let go by Eli Lilly over allegations of an inappropriate personal relationship between the then-Lilly CFO and an employee.

The biopharmaceutical company's shares slid nearly 2% in Friday morning.

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