Vancouver biopharma outfit



said late Monday that its finance chief quit.

The company said Michael J. Doty will step down Friday after three years in the post. Vice President Finance Cameron Nelson will take the acting CFO role while the company searches for a successor for Doty.

Doty "introduced a new budgeting process that has allowed us to better control and manage our business, he put in place a highly effective foreign currency exposure risk management strategy, and he has worked diligently to meet the many new requirements of corporate governance, including those of the Sarbanes-Oxley Act," said CEO Paul Hastings. "Further, Mike contributed significantly to strengthening our key alliance relationship. I want to thank Mike for everything he has done for QLT and wish him the very best for the future."

Late Monday, QLT fell 43 cents to $12.01.