LipoScience names new CEO

01/22/2014 5:26 PM

01/22/2014 5:27 PM

Medical diagnostics company LipoScience announced Wednesday that it has named Howard Doran to be its new president and CEO effective Feb. 3.

Doran replaces Robert Greczyn, a LipoScience board member who has served as interim CEO since August while the Raleigh company searched for a permanent chief executive.

Doran was most recently president and chief operating officer of Constitution Medical, an early stage diagnostics company. Constitution Medical’s hematology system was acquired by Roche Diagnostics in July. Doran was also previously a senior executive at Hologic.

Doran will be paid an annual salary of $440,000 and is eligible to receive an annual bonus of up to 60 percent of his base salary. He also received stock grants valued at $880,000.

LipoScience makes a tool that measures the risk of heart disease by measuring lipoprotein particles in the bloodstream, as opposed to taking cholesterol readings. Lipoproteins cause plaque buildup in arteries.

The company has struggled since going public in January 2013, which led to the departure of CEO Richard Brajer in August. Brajer had led the company for 10 years.

The company’s shares, which began trading at $9 a year ago, closed Wednesday at $4.55, up 14 cents.

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