Rockville-based Rexahn Pharmaceuticals Inc. says Dr. Chang Ahn will give up his CEO title and serve as the company's chief science officer.
The company calls Ahn's move a personal decision.
Rexahn has begun a search for a new CEO and hopes to name one by September. Ahn will remain CEO until then. He will also continue to serve as chairman of the board.
"I founded this company as a personal mission to develop new medical treatments for cancer. Going forward, I believe I can best contribute to the success of the company as its chairman and CSO," Ahn said in a statement.
Rexahn (NYSE Amex: RNN) is developing drugs for cancer, sexual dysfunction and central nervous system disorders and has three experimental drugs in Phase II clinical trials.
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