- Push-out Score determined
- After around seven years in the position
- Accolades, praise and thanks for Margolin
- Lou Brenner taking over
- Margolin will remain as Chairman at Allena
- Margolin said 104 words
(exechange) — Newton, Massachusetts, January 4, 2019 — Alex Margolin, chief executive of Allena, leaves the position. It is a change at short notice. As announced by Allena Pharmaceuticals Inc. in a news release on Friday, January 4, 2019, Alexey L. (Alex) Margolin leaves his post as Chief Executive Officer at the biopharmaceutical company after around seven years in the role, effective February 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.
Alex Margolin’s duties will be taken over by Louis (Lou) Brenner, currently Chief Operating Officer of Allena Pharmaceuticals, Inc.
“Extensive experience in late-stage clinical development and the pursuit of new regulatory approvals”
Alex Margolin’s imminent departure from the CEO post is explained as follows. Alexey Margolin said: “Lou’s extensive experience in late-stage clinical development and the pursuit of new regulatory approvals uniquely fits the needs of Allena as we approach our ultimate goal – bringing to patients the first ever drug for enteric hyperoxaluria.”
Margolin will remain as Chairman at Allena
“Dr. Margolin, who co-founded Allena in 2011, will transition to Chairman of the Board effective February 1, 2019. He will continue advising the company in this new role,” Allena said.
Allena said: “Dr. Brenner will succeed Alexey Margolin, Ph.D. as Chief Executive Officer.”
Share price decline
The change follows a decline in Allena Pharmaceuticals, Inc.’s share price of 61 percent since May 2018.
In the position of CEO since 2011
Alexey Margolin, Ph.D. is the Company’s co-founder and has served as the Company’s chief executive officer and director since September 2011.
From September 2011 to February 2017, Margolin also served as the Company’s president.
From September 2011 to April 2014 Margolin served as chief executive officer of Alcresta Therapeutics, Inc., or Alcresta, which he also co-founded and where he currently serves on the board of directors.
From September 2011 to July 2013, Margolin also served as president of Alcresta.
Prior to Alcresta, Margolin co-founded Alnara Pharmaceuticals, Inc., or Alnara, in 2008, where he was president and chief executive officer until 2010, when Alnara was acquired by Eli Lilly & Co., or Eli Lilly.
Previously, Margolin also served as chief scientific officer of Altus Pharmaceuticals, Inc., or Altus, through 2007, where he initiated and led several therapeutics programs based on protein crystallization technology.
In 2003, Margolin was elected fellow of the American Institute of Medicine and Biological Engineering.
He is the author of more than 60 publications and is an inventor on several patents.
Margolin holds both his M.S. in chemistry and Ph.D. in bio-organic chemistry from Moscow University.
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 Allena and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 1.2019 ($).