Following the arrest of the 32-year-old CEO of Turing Pharmaceuticals, Martin Shkreli resigned as company head Friday, according to The Hill.
Mr. Shkreli's exit from the company followed one day after he was taken into custody by federal authorities on securities and fraud charges.
"We wish to thank Martin for helping us build Turing Pharmaceuticals into the dynamic research focused company it is today and we wish him the best in his future endeavors," Turing Pharmaceuticals wrote in a statement.
Ron Tilles has been named interim CEO, according to the report.