- Push-out Score determined
- After about four years in the position
- Accolades, praise, thanks and good wishes for Tulipano
- Joshua Reed taking over
(exechange) — Lexington, Massachusetts, July 31, 2018 — Steve Tulipano, finance chief of Aldeyra, leaves. It is an abrupt change. As announced by Aldeyra Therapeutics, Inc. in a news release and in a regulatory filing published on Tuesday, July 31, 2018, Stephen J. (Steve) Tulipano has left his post as Chief Financial Officer at the biotechnology company after about four years in the role, effective July 27, 2018.
Tulipano’s duties were taken over by Joshua Reed, most recently Vice President and Head of Finance for the United States and Puerto Rico operations of Bristol-Myers Squibb.
The fact that Tulipano’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
“We advance our late-stage pipeline towards potential commercialization”
A reason for Tulipano’s sudden departure from the CFO post was not explicitly given. Todd C. Brady, President and CEO of Aldeyra, said: “We are pleased to welcome Joshua to Aldeyra at this important point in the company’s life cycle as we advance our late-stage pipeline towards potential commercialization.”
Precise information about Tulipano’s future plans was not immediately available.
Aldeyra said: “Mr. Reed will succeed Stephen Tulipano, the Company’s outgoing Chief Financial Officer.”
Aldeyra further said: “Mr. Reed succeeds Stephen Tulipano as the Company’s Chief Financial Officer effective as of July 27, 2018.”
Share price decline
The change follows a decline in the share price of Aldeyra Therapeutics, Inc. since January 2015.
CEO: Todd C. Brady
Todd C. Brady serves as CEO of Aldeyra Therapeutics, Inc. Brady has served as the Company’s President and Chief Executive Officer since January of 2012 and as a member of the Company’s board of directors since 2005.
In the position of CFO since 2014
Stephen J. Tulipano has been the Chief Financial Officer and Treasurer of Aldeyra Therapeutics, Inc. since June 23, 2014.
He has 30 years of accounting and financial experience, of which 17 years were focused on the pharmaceutical industry.
Most recently, he held positions at Three Tulips Inc., an accounting and management advisory services firm, where he provided full-time accounting services and financial management counsel from September 2010 to June 2014.
Prior to that, from April 2006 to July 2010, he served as Chief Financial Officer, Treasurer and Secretary of Javelin Pharmaceuticals where he helped lead the company through its acquisition by Hospira in 2010.
Previously, he held the role of Director of Corporate Accounting at Biogen Idec.
He has also held several accounting roles both within companies and accounting firms.
Tulipano holds a B.S. in Business Administration and Accounting from Salem State College and an M.B.A. in Finance from the Sawyer School of Management at Suffolk University.
He is also a Certified Public Accountant.
Push-out Score determined
The Push-out Score™ determined by exechange suggests that push-out forces have contributed to the change.
Read the full story in the exechange report 32.2018 ($).