- Push-out Score suggests push-out forces
- After about five years in the position
- Responsibilities redistributed
- Search for a successor
(exechange) — Newark, California, May 29, 2018 — This news came the day after Memorial Day. Lauren Silvernail, finance chief of Revance, leaves. It is an abrupt change. As announced by Revance Therapeutics, Inc. in a news release and in a regulatory filing published on Tuesday, May 29, 2018, Lauren P. Silvernail leaves her post as Chief Financial Officer at the biotechnology company after about five years in the position, effective immediately.
Revance will undertake a search for a successor.
The position of Chief Financial Officer is currently not filled. For the time being, Lauren Silvernail’s responsibilities are redistributed.
Silvernail’s sudden departure from the CFO post is explained as follows. Revance said: “Lauren Silvernail has resigned as Revance’s Chief Financial Officer and Chief Business Officer, effective as of May 29, 2018, to pursue a Chief Financial Officer role at an aesthetics company in Orange County, California, where she resides.”
Silvernail will be CFO at Evolus
Evolus, Inc. announced the appointment of Lauren Silvernail as Chief Financial Officer and Executive Vice President, Corporate Development.
Evolus, Inc. announced the move on Tuesday, May 29, 2018.
Evolus is a premiere aesthetics company.
Revance said: “On May 27, 2018, Lauren P. Silvernail resigned as Chief Financial Officer and Chief Business Officer of Revance Therapeutics, Inc. …, effective as of May 29, 2018.”
“Departure is not based on any disagreement”
“Her departure is not based on any disagreement with the company’s accounting principles or practices, internal controls or financial statement disclosures,” Revance said.
It is a phrase that may be intended to prevent false rumors. It may also fuel further speculation and raise more questions than it answers. Such a phrase should be read very carefully. The exact wording may be insightful.
Chaired by Angus C. Russell
Revance Therapeutics, Inc. is chaired by Angus C. Russell.
Angus C. Russell has served as a director and Chairman of the Board of the Company since March 2014.
CEO: L.Daniel Browne
L.Daniel Browne serves as CEO of Revance Therapeutics, Inc. Browne is one of the Company’s co-founders and has served as the Company’s President and Chief Executive Officer and a member of the Company’s board of directors since the Company commenced operations in 2002.
In the position of CFO since 2013
Lauren P. Silvernail has been the Chief Financial Officer at Revance Therapeutics, Inc. since March 25, 2013.
Lauren Silvernail has served as the Company’s Chief Financial Officer since March 2013 and as Chief Business Officer since December 2015.
From 2003 to 2012, Silvernail was Chief Financial Officer and Vice President of Corporate Development at ISTA Pharmaceuticals, Inc., where she was integral to growing revenues to more than $160 million and headcount to more than 340 employees before the company was purchased by Bausch + Lomb in June 2012.
From 1995 to 2003, she served in various operating and corporate development positions with Allergan, Inc., a multi-specialty healthcare company, including her final role at the company, Vice President, Business Development.
Prior to joining Allergan, Inc., Silvernail worked at Glenwood Ventures, an investment firm, as a General Partner.
She currently serves on the Board of Directors of Nicox S.A. Silvernail holds a B.A. in Biophysics from the University of California, Berkeley and an M.B.A. from the Anderson Graduate School of Management at the University of California, Los Angeles.
Silvernail is a member of the Licensing Executives Society (LES).
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Lauren Silvernail’s sudden move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the change.
Read the full story in the exechange report 23.2018 ($).