Pacific Biosciences of California Inc. on Friday named Chairman Michael Hunkapiller president and CEO.
Hunkapiller will replace Hugh Martin, who became president and CEO of the company in 2004. Hunkapiller was named executive chairman on Oct. 27.
Hunkapiller was president and general manager of Applied Biosystems from 1995 to 2004. Applied Biosystems is now part of Life Technologies Inc., a life sciences and medical research tools company. After leaving Applied Biosystems he joined Alloy Ventures, a venture capital firm. He led Alloy's investment in Pacific Biosciences in 2005 and joined the board at that time.
Martin will stay on the Pacific Biosciences board until the company's next annual meeting.
Pacific Biosciences shares rose 1 cent to $2.98 in afternoon trading.