Raymond H. Hill, CEO of the Wilmington-based drug-research company PPD, has resigned.
Hill's resignation took effect Monday, company spokesman Ned Glascock said.
Hill took over as CEO Sept. 16. His resignation came exactly a week after PPD was acquired by two private equity firms, The Carlyle Group and Hellman & Friedman, for $3.9 billion.
"Our new board of directors and our entire team want to thank him for his leadership and his contributions during this transition period of going from a public company to a private company," Glascock said.
Glascock said the board would hire a new CEO in the near future.
In the interim, PPD will be led by a four-person executive committee that includes the company's COO, CFO, chief medical officer and general counsel.