- Push-out Score determined
- After seven years in the position
- Accolades, praise, thanks, words of regret and good wishes for Abdun-Nabi
- Abdun-Nabi said 76 words
(exechange) — Gaithersburg, Maryland, January 4, 2019 — Dan Abdun-Nabi, chief executive of Emergent, hands over the reins. As announced by Emergent BioSolutions Inc. in a news release and in a regulatory filing published on Friday, January 4, 2019, Daniel J. (Dan) Abdun-Nabi leaves his post as Chief Executive Officer at the specialty biopharmaceutical company after seven years in the role, effective April 1, 2019.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past 12 months was 8.9 years, according to data compiled by exechange.
Dan Abdun-Nabi’s duties will be taken over by Robert G. (Bob) Kramer, currently Chief Operating Officer of Emergent BioSolutions Inc.
“The result of our succession planning process”
Dan Abdun-Nabi’s departure from the CEO post is explained as follows. Fuad El-Hibri, founder and executive chairman of the board of directors, said: “The election of Bob is the result of our succession planning process.”
Precise information regarding Dan Abdun-Nabi’s future plans was not immediately available.
Emergent said: “CEO Daniel J. Abdun-Nabi will be retiring and that its board of directors has unanimously appointed Robert G. Kramer, Sr., the company’s current president and COO, to succeed him as president and CEO, effective April 1, 2019.”
Share price increase since April 2017
The change follows an increase in Emergent BioSolutions Inc.’s share price of 101 percent since April 2017.
Chaired by Fuad El-Hibri
Emergent BioSolutions Inc. is chaired by Fuad El-Hibri.
El-Hibri has served as the executive chairman of the Company’s board of directors since April 2012. From June 2004 to March 2012, El-Hibri served as chief executive officer and as chairman of the Company’s board of directors.
In the position of CEO since 2012
Abdun-Nabi currently serves as the Company’s chief executive officer and previously served as the Company’s president and chief executive officer from April 2012 to March 2018.
From May 2007 to March 2012, Abdun-Nabi served as the Company’s president and chief operating officer.
Abdun-Nabi previously served as the Company’s secretary from December 2004 to January 2008, the Company’s senior vice president, corporate affairs and general counsel from December 2004 to April 2007 and the Company’s vice president and general counsel from May 2004 to December 2004.
Abdun-Nabi served as general counsel for IGEN International, Inc., a biotechnology company, and its successor BioVeris Corporation, from September 1999 to May 2004.
Prior to joining IGEN, Abdun-Nabi served as senior vice president, legal affairs, general counsel and secretary of North American Vaccine, Inc.
He served as Chairman of the Maryland Life Sciences Advisory Board from July 2016 to June 2017.
In August 2016, Abdun-Nabi joined the boards of REGENXBIO Inc., and Aptevo Therapeutics Inc. both publicly-traded companies.
Abdun-Nabi received a Master of Law in Taxation from Georgetown University Law Center, a J.D. from the University of San Diego School of Law and a B.A. in political science from the University of Massachusetts, Amherst.
Abdun-Nabi has also indicated that he plans to step down as a member of the Emergent board of directors, and Emergent expects the board of directors to appoint Kramer to fill the board vacancy created by Abdun-Nabi’s retirement.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the likelihood that a manager was pushed out or felt pressure to leave the position.
exechange reached out to Emergent and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 1.2019 ($).