Peter Kissinger and his wife, Candice, have ended their tenures at Bioanalytical Systems, the West Lafayette company they started three decades ago.
The couple resigned their board positions, although Peter Kissinger will remain as chairman emeritus, the contract research firm announced yesterday. Each received an undisclosed severance package.
Bioanalytical Systems said the resignations complete the ongoing departure of the couple.
Peter Kissinger resigned as CEO a year ago, then early last month stepped down as chairman and chief scientific officer. No reason for the change was disclosed in the Securities and Exchange Commission document. Candice Kissinger was vice president, secretary and director of research.
In a statement, Peter Kissinger said, “Candice and I had a wonderful 30-year run at BASi and it is a good time for us to move on to new opportunities. Our strengths and passions are on the technical side and we are excited to apply our skills to several entrepreneurial activities.”
He did not elaborate on potential entrepreneurial activities.
Bioanalytical Systems stock has traded flat near $7 a share since late 2004-a period when major stock indexes have seen major run-ups.
The company laid off workers and reduced office space in an effort to reverse losses sustained a year ago. In its third fiscal quarter ended June 30, the company posted $449,000 in profit.