Acceleron Pharma Tabs Bayer Exec As Next CEO

Acceleron Pharma Inc. announced Tuesday that founder John Knopf would step down as president and chief executive and be replaced by an executive from Bayer AG . Acceleron announced that Bayer's president of pharmaceuticals in the U.S., Habib Dable, will take the helm from Knopf on Dec. 1. Dable had worked at Bayer for more than 20 years, starting in 1994, and Acceleron said he will oversee the company amid a push for new therapies, with two phase 3 trials underway. Neither companies' stocks moved in late trading after the announcement.