December 13, 2010 / 12:56 PM / 7 years ago

UPDATE 1-AVI BioPharma names board member as new CEO

* Says Chris Garabedian appointed CEO

* Says interim CEO J. David Boyle to continue as CFO

Dec 13 (Reuters) - AVI BioPharma AVII.O said it appointed Chris Garabedian, a director on the biotechnology company's board, as its chief executive effective Jan. 1.

Garabedian, who has been on the company's board since June, will replace interim CEO J. David Boyle, who will continue in his role as chief financial officer.

Garabedian has previously worked at Gilead Sciences (GILD.O) and Abbott Laboratories (ABT.N).

Shares of Washington-based AVI BioPharma have gained more than half their value since the resignation of former CEO Leslie Hudson. [ID:nWNAB0388]

They closed at $1.85 on Friday on Nasdaq. (Reporting by Rajarshi Basu in Bangalore; Editing by Anne Pallivathuckal)

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