Mr Garo Armen has stepped down as Chairman of Irish pharmaceutical company Elan Corporation and has been replaced by Mr Kyran McLaughlin.
Mr Armen will retain a seat on the board of directors.
Mr McLaughlin has been a director of Elan since January 1998. He is head of Capital Markets and Deputy Chairman at Davy Stockbrokers and also a director of Ryanair Holding as well as a number of private companies.
