Maravai CEO Change on Hold After Danaher Files Noncompete Suit

By Colin Kellaher

Maravai LifeSciences Inc. on Wednesday said its recent appointment of William Martin III as chief executive is on hold after a legal challenge from Danaher Corp., Mr. Martin's former employer.

San Diego life-sciences company Maravai said Danaher has filed a lawsuit alleging that Mr. Martin is in breach of a noncompetition agreement and has won a temporary restraining order that prohibits Mr. Martin from working for Maravai pending a preliminary injunction hearing that is expected to occur later this year.

Mr. Martin joined Danaher in 2018 in connection with its acquisition of Integrated DNA Technologies and had most recently served as senior vice president of new business for the Washington science and technology conglomerate's genomic medicine arm before leaving in July.

Maravai earlier this month said Mr. Martin was taking the helm from co-founder Carl Hull, who became executive chairman. The company on Wednesday said it has reinstated Mr. Hull as interim CEO and placed Mr. Martin on paid leave pending the outcome of the dispute.

Write to Colin Kellaher at [e-mail]

(END) Dow Jones Newswires

October 19, 2022 08:54 ET (12:54 GMT)

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