ATAI Life Sciences (ATAI) has provided an update.
Florian Brand will transition from his role as CEO of the company, serving as Co-CEO with Dr. Srinivas Rao until the end of 2024, when he will step down. Dr. Rao, a co-founder with an extensive background in biotech leadership and academia, will then take over as sole CEO. The separation agreement outlines continued compensation and benefits for Brand, including salary payments and bonus eligibility post-departure, as well as specific provisions for equity awards and a prohibition on selling certain shares for a year. Brand’s departure is also deemed a “good leaver event,” ensuring he retains his vested shares in the company’s value appreciation scheme.
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