Jeff Williams, the co-founder and CEO at Clinipace Worldwide, is stepping aside as the firm’s top executive.

The clinical research organization, a provider of various life science services, disclosed the news Tuesday.

Replacing Williams is Jason Monteleone, who recently launched a financial consulting firm but does have an extensive background in the life science industry.

Clinipace, which raised $50 million in 2015 and millions more last year to grow the firm’s footprint, launched in 2003. The firm is one of the world’s larger CROs and has more than 800 employees.

“I am extremely proud of what we have built at Clinipace, but the time has come for me to replace myself and it is my pleasure to welcome Jason Monteleone as CEO,” Williams said in a statement. “After seeing him in action as a consultant to Clinipace over the last several months, I am confident he will build successfully on our company’s 14-year history and lead us into its next phase of growth.”  

Williams is taking what the company describes as “an expanded advisory role” with the Clinipace board. His focus will be strategic initiatives.

Monteleone has spent more than 20 years in life science, clinical research and healthcare.

“I am honored to join Clinipace on the heels of the remarkable accomplishments that Jeff and his organization have achieved,” he said. “I am confident that the strong foundation he built, and the talented team here, will serve us well as we continue our quest to make Clinipace the leading mid-market CRO.”