WEST LAFAYETTE - West Lafayette-based Endocyte Inc. (Nasdaq:ECYT) has a new leader. Mike Sherman has been named president and chief executive officer, succeeding co-founder Ron Ellis. The move is effective immediately.

Ellis helped start the company in the mid-1990s and became its first president and CEO in 1996. Endocyte Board Chairman John Aplin says Ellis will stay on as a consultant. He adds "we would like to thank Ron, as our founding CEO, for his many contributions to building Endocyte and his tireless efforts in positioning the company for future success."

Sherman came to Endocyte as chief financial officer in 2006 and added the role of chief operating officer in 2014. Aplin calls Sherman the "ideal candidate" and says "his steadily expanded role as a trusted and strategic leader within the company over the last decade has established him as the natural successor to Ron. We are confident that his appointment will ensure a seamless management transition, and that he will add significant value in his new role."

Sherman's previous roles include leadership positions with Guidant Corp., which was acquired by Boston Scientific Corp., and as a board member with Mead Johnson Nutrition. He has degrees from DePauw University and Dartmouth College.