RenovaCare chairman and CEO retires

RenovaCare Inc., a Roseland-based stem cell technology company, said Tuesday its chairman, CEO and president is retiring.

Alan Rubino resigned as of last week, the company said in a news release, but will remain in a consulting role to provide an orderly transition of leadership.

“I am proud of all that has been accomplished at RenovaCare with our management team during my leadership tenure,” he said in a prepared statement. “I wish the company and its shareholders continued success as it prepares to commence its initial clinical studies.”

Dr. Kaiyo Nedd will serve as interim CEO and president, while Harmel S. Rayat will serve as the new chairman. Both will be members of the board of directors, as well.

Nedd, a practicing physician, has been medical director of West End Medical Centre in Vancouver, B.C. Rayat has been a longtime majority stockholder and investor in the company through his family office, Kalen Capital Corp.