Civica Rx announced Tuesday morning that COO Ned McCoy will serve as president and CEO effective June 1.

McCoy will replace retiring CEO Martin VanTrieste, who will continue to serve on the nonprofit generic pharmaceutical company’s board of directors.

In his role as COO, McCoy has overseen the company’s manufacturing efforts and partnership outreach. According to a press release, McCoy was responsible for the partnership with GeneSys Biologics, Civica’s affordable insulin development partner. The company plans to bring biosimilar insulins to market beginning in 2024.

Before joining Civica, McCoy worked at Abbott for more than three decades, leading teams in hospital products, pharmaceutical products, as well as nutrition and corporate mergers and acquisitions

“I am honored to serve as the next CEO of Civica and continue our pivotal work of delivering quality generic medications that are available and affordable to everyone,” McCoy said in a statement. “Through much of my time at Civica, I have had the privilege of leading Civica’s operations, including helping to secure successful, long-term manufacturing partnerships and execute the building of our own manufacturing facility.”