CEO to be replaced after healthtech unicorn Biofourmis lays off 120 staff

HEALTHCARE startup Biofourmis is searching for a new chief executive after its founder Kuldeep Singh Rajput abruptly stepped down on Wednesday (Aug 30), more than a month after the company laid off about 120 employees, sources told The Business Times (BT).

Ben Wanamaker of General Atlantic, one of Biofourmis’ biggest investors, will step in to lead the new CEO office set up to direct the company’s operations, stated a company-wide e-mail seen by BT.

The e-mail, sent on Wednesday morning by chairman Omar Ishrak, said Rajput will step down effective immediately and become a senior adviser.