- Push-out Score suggests push-out forces
- After less than four years in the position
- Praise, thanks and good wishes for Musso
- Responsibilities redistributed
- Search for a successor
(exechange) — Houston, Texas, July 16, 2018 — Alan Musso, finance chief of Bellicum, leaves. It is a change at short notice. As announced by Bellicum Pharmaceuticals, Inc. in a news release and in a regulatory filing published on Monday, July 16, 2018, Alan A. Musso, Chief Financial Officer, leaves the clinical stage biopharmaceutical company after less than four years in the role, effective August 31, 2018.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CFOs who departed over the past 12 months was 6.7 years, according to data compiled by exechange.
Musso’s move comes 17 months after Rick Fair took over as CEO of Bellicum Pharmaceuticals, Inc.
Bellicum will undertake a search for a successor.
The position of Chief Financial Officer is currently not filled. For the time being, Alan Musso’s responsibilities are redistributed.
Musso’s imminent departure from the CFO post is explained as follows. Bellicum’s President & CEO Rick Fair said: “[H]e moves on to a new opportunity.”
The phrase “new opportunity” opens the door to speculation.
Precise information about Musso’s future plans was not immediately available.
Generally speaking, it is often an alarm signal for investors when a CFO leaves the post at short notice and without a reasonable explanation.
Bellicum said: “Alan Musso, Chief Financial Officer, will be leaving the Company effective August 31, 2018.”
Bellicum further said: “On July 13, 2018, Bellicum Pharmaceuticals, Inc. … and Alan Musso, the Chief Financial Officer and Treasurer of the Company, entered into a separation agreement … pursuant to which Mr. Musso resigned effective August 31, 2018.”
Share price decline
The change follows a decline in the share price of Bellicum Pharmaceuticals, Inc. since September 2017.
Chaired by James Brown
Bellicum Pharmaceuticals, Inc. is chaired by James Brown.
James Brown is Chairman of the Board of Directors at Bellicum. He is also currently Managing Director at Insight Capital Partners LLC, and serves on a number of Boards of Directors for IT and biotechnology companies.
CEO: Rick Fair
Rick Fair serves as CEO of Bellicum Pharmaceuticals, Inc. Richard A. Fair has been Chief Executive Officer and President of Bellicum Pharmaceuticals, Inc. since January 31, 2017.
In the position of CFO since 2014
Alan A. Musso has been the Chief Financial Officer and Treasurer at Bellicum Pharmaceuticals, Inc. since November 2014.
Alan Musso joined Bellicum in November 2014 and serves as Chief Financial Officer and Treasurer.
He has over 25 years of biotech and pharmaceutical industry experience in both large and emerging growth companies, including capital raising, corporate partnering, finance, strategy and the financial stewardship of publicly-traded companies.
He most recently served as Senior Vice President, Finance and Administration, CFO and Treasurer of Targacept, Inc.
He began his career working in the public accounting field at KPMG and later held positions of increasing responsibility with Pfizer.
Musso received a B.S. in Accounting from Saint Mary’s College of California, and a master’s degree from the American Graduate School of International Management in Glendale, Arizona.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Alan Musso’s imminent 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 30.2018 ($).