Xoma's Steven Engle quits as chairman, president, CEO

Xoma Ltd. Chairman, President and CEO Steven Engle stepped down Wednesday from all of the positions as the company struggles to move past disappointing results from a diabetes trial earlier this year.
The Berkeley company (NASDAQ: XOMA) said current board member John Varian will become interim CEO and W. Denman Van Ness, Xoma’s lead independent director, will become chairman. Xoma will start looking for a permanent CEO.