12:20 PM EDT, 09/05/2024 (MT Newswires) -- Lexaria Bioscience ( LEXX ) said Thursday that Chris Bunka has stepped aside as chief executive officer at the drug-delivery company and was succeeded by Richard Christopher, former chief financial officer of InVivo Therapeutics.

Bunka, who officially stepped down on Aug. 31 after 16 years leading Lexaria, will remain with the company as board chairman and executive strategic advisor to Christopher and the rest of his management team.

In addition to his recent role at privately-held InVivo, Christopher previously was CFO at iCAD (ICAD), which is developing cancer diagnostic technologies, and was chief operating officer and CFO at Caliber Imaging & Diagnostics. He also served as CFO for more than eight years at DUSA Pharmaceuticals, now part of Mumbai-based Sun Pharmaceuticals Industries.

Lexaria shares were down over 2% in recent midday trading.

Price: 3.37, Change: -0.07, Percent Change: -2.18