ArQule chief executive will leave for Solvay

Woburn biotechnology company ArQule Inc. said today its president and chief executive is leaving the company for a new job at Solvay Pharmaceuticals Inc.

ArQule said that Stephen A. Hill has been appointed as the new president and chief executive of Solvay, which according to its website is a Georgia-based company focused on patient health management.

Hill will remain at in his position at ArQule through the end of March, ArQule said.

ArQule said the appointment follows its Jan. 7 announcement that it has initiated a search for a successor to Hill, who had previously communicated to ArQule's board of directors his intention to leave the company.
(By Chris Reidy, Globe staff)