08:07 AM EDT, 09/03/2024 (MT Newswires) -- NovoCure ( NVCR ) said Tuesday that Chief Executive Officer Asaf Danziger will retire at the end of 2024 and Chief Financial Officer Ashley Cordova will succeed him as the company's CEO.

Ashley Cordova joined Novocure ( NVCR ) in 2014 and has served as the company's CFO since September 2020.

Danziger, who has served as CEO since 2002, will serve as senior advisor into early 2026, and will also continue to serve on Novocure's ( NVCR ) board of directors, the company said.

These changes will become effective on Jan. 1, 2025, NovoCure ( NVCR ) said.

The company also said that Wilco Groenhuysen will step down, effective Oct. 1, after 12 years as chief operating officer.

Mukund Paravasthu, NovoCore's senior vice president of product development, who joined the company in 2020 will expand his current responsibilities and transition into the role of COO.

The company's shares were down more than 3% in recent premarket activity on Tuesday.

Price: 18.75, Change: -0.69, Percent Change: -3.55