Blood testing company Theranos Inc said on Friday its founder, Elizabeth Holmes, would step down as chief executive officer, amid fraud charges leveled against the privately held firm.
Holmes will remain chair of the company's board and David Taylor, the firm's general counsel, has been appointed its CEO, Theranos said.
Holmes agreed in March to settle "massive fraud" charges with the Securities and Exchange Commission under which she was barred from serving as an officer or director of a public company for 10 years.