Investing.com -- NeoGenomics (NASDAQ:NEO), a firm specializing in cancer diagnostics, saw its share prices fall by up to 17%, marking the largest intraday drop in a year.
The fall came in response to the company's announcement that CEO Chris Smith is set to retire. Smith, who has held the CEO position since August 2022, will be stepping down, effective April 1.
Smith's role will be filled by board member Tony Zook. The change in leadership comes less than three years into Smith's tenure as CEO.
Despite the short duration of his leadership, Smith's departure and the subsequent appointment of Zook is a significant shift for the company.
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