Eton Pharma CEO David Taylor, a man known for his aggressive tactics against rivals, has been sacked by the company, which said it had taken over his role following a “full and frank discussion.”
The company’s board met Wednesday afternoon to approve Taylor’s removal, which would leave him without a formal role.
The board is also expected to approve a “summary severance package” that includes $100,000 to $200,000 in stock awards, according to a statement issued by Eton on Wednesday afternoon.
The company said the severance will be subject to the approval of the board.
Taylor had been in a relationship with the company’s founder, Stephen Epton, that went sour in 2016 after Taylor had criticized the CEO’s business practices and suggested he might be a sexual predator.
Taylor’s resignation was first reported by Politico.
Eton said in a statement to CNN that it was “committed to a long-term commitment to investing in our employees, and our Board has acted swiftly to identify an appropriate successor.”
The board also said it was committed to continuing to support Eton’s strategy of “re-imagining” the company as a global leader in innovation.
Taylor is a well-known figure in the pharmaceutical industry, and he is a longtime confidant of the company founder.
The news of Taylor’s departure was met with a chorus of criticism.
Many of the employees of Eton have accused Taylor of being a controlling, controlling and abusive boss, and some have complained that he had no regard for their feelings and the health of the brand.
Taylor has also faced criticism for his controversial decision to move his entire business operations from the U.K. to Europe in 2016, which has resulted in an increased number of people leaving the company.
Taylor, who had been a member of the Eton board since 2004, was previously CEO of AstraZeneca and Bristol-Myers Squibb, before his appointment to the ETON board in 2019.
In 2016, Taylor became a vocal supporter of Brexit.
At the time, he called for a referendum on whether Britain should leave the European Union.
In a statement on Tuesday, he said the UK “must respect our obligations to the European community and respect the principle of self-determination.”
Eton was founded in 1874 and grew rapidly during the Industrial Revolution, when Britain had little experience of running a global pharmaceutical company.
In recent years, the company has been focused on the development of novel pharmaceutical drugs, as well as the manufacture of medical devices and medical devices that can be used for medical purposes.