Prominent venture capitalist to replace Gephardt as Scripps chairman

scripps_richie

Richard Gephardt is retiring as chairman of The Scripps Research Institute and will be replaced by prominent venture capitalist John Diekman, the nonprofit organization said Tuesday.

Gephardt, age 76 and a longtime Democratic Congressman from St. Louis, had been the chairman of Scripps for seven years.

Diekman, 73, is a founding partner of 5AM Ventures, a San Francisco VC firm that specializes in biotech. Other new members of the Scripps board include Genentech co-founder Herb Boyer and venture capitalist Gerald Chan.

The chairman’s post is a volunteer, unpaid position.

San Diego-based Scripps in 2003 received the largest economic development subsidy in Florida history, receiving $310 million from Gov. Jeb Bush to open a research facility here, and Palm Beach County sweetened the deal with $269 million. Scripps Florida employs more than 500 at its Jupiter facilities.

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