Novavax CFO Greg Covino to step down

(Reuters) – Novavax Inc said on Tuesday Greg Covino is stepping down as the chief financial officer due to personal reasons and would become an executive adviser to the U.S. vaccine developer.

Chief Business Officer John Trizzino will serve as the finance chief in the interim, with a search underway for Covino’s replacement.

The company also said it had brought in Troy Morgan as its chief compliance officer from EMD Serono Inc, the biopharmaceutical arm of Germany’s Merck KGaA in the United States and Canada. It also promoted Chief Scientist Gale Smith to senior vice president.

Novavax earlier on Tuesday said it had pushed back the timeline for hitting its production target of 150 million COVID-19 vaccine doses per month until the third quarter due to supply shortages.

The company could receive UK regulatory authorization for its COVID-19 vaccine as early as this month after releasing impressive UK trial data. It expects U.S. clearance as early as May.

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