Fate Therapeutics Inc. announced that Scott Wolchko will succeed Dr. Christian Weyer as president and CEO following Weyer's resignation effective Nov. 30.

Wolchko, who has served as the company’s chief financial officer since its founding and as chief operating officer since January 2013, has also joined the board of directors. Wolchko also founded Fate Therapeutics, a clinical-state biopharmaceutical company, in 2007 with venture capitalists at ARCH Venture Partners, Polaris Partners and Venrock.

Wolchko began his career as an investment banker with Morgan Stanley & Co.'s Healthcare Investment Banking Group in New York and San Francisco. Prior to founding Fate Therapeutics, he served as chief financial officer of Bocada Inc., an enterprise software company providing business intelligence solutions for data management and protection. He also previously led corporate development at drugstore.com, a health and wellness internet retailer.

In connection with Wolchko’s new role, Fate Therapeutics announced that Chief Technology Officer Daniel Shoemaker has been appointed chief scientific officer. Vice President of Translational Research Stewart Abbot has been appointed chief development officer, and the company’s senior legal counsel Cindy Tahl has been appointed general counsel.