Bloodletting at Zymeworks as new CEO axes half of senior leaders, plans 25% reduction in headcount

Kenneth Galbraith has made an immediate mark on Zymeworks. Days after taking up the CEO position, Galbraith has axed half the senior management team and disclosed plans to cut total headcount by 25%.

Zymeworks disclosed the CEO transition Jan. 5, at which time it expected Galbraith to take up his new post by the start of February. Galbraith arrived well ahead of schedule and acted fast, assuming the role Jan. 15 and culling colleagues in his first week in the job.