- Push-out Score determined
- After about five years in the position
- Accolades, praise and thanks for Taylor
- Steve Hoerter taking over
- Taylor said 94 words
(exechange) — Waltham, Massachusetts, March 4, 2019 — Mike Taylor, chief executive of Deciphera, leaves. It is a change at short notice. As announced by Deciphera Pharmaceuticals Inc. in a news release and in a regulatory filing published on Monday, March 4, 2019, Michael D. (Mike) Taylor leaves his post as Chief Executive Officer at the clinical-stage biopharmaceutical company after about five years in the role, effective March 18, 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 8.1 years, according to data compiled by exechange.
Mike Taylor’s duties will be taken over by Steven L. (Steve) Hoerter, most recently Chief Commercial Officer of Agios Pharmaceuticals, Inc.
Already a director
Hoerter is already a director of Deciphera.
Having been a director, Hoerter understands the expectations and dynamics of the board and has knowledge of Deciphera’s organization, risk-management practices and strategy.
“Deciphera prepares to transition into a commercial-stage oncology company”
A reason for Mike Taylor’s imminent departure from the CEO post was not explicitly provided. James A. Bristol, Chairman of the Deciphera Board of Directors, said: “This leadership succession comes as Deciphera prepares to transition into a commercial-stage oncology company, a setting in which Steve has an impressive, proven track record of success.”
Precise information regarding Mike Taylor’s future plans was not immediately available.
Deciphera said: “[A]fter a successful tenure since 2014, Michael D. Taylor, Ph.D. will retire as President and Chief Executive Officer of the Company effective March 18, 2019, when Dr. Taylor will transition to senior advisor to the Company for six months.”
Deciphera further said: “On March 4, 2019, Dr. Michael Taylor notified Deciphera Pharmaceuticals, Inc. … of his resignation from his position as President and Chief Executive Officer, effective March 18, 2019.”
Share price decline
The announcement follows a decline in Deciphera Pharmaceuticals, Inc.’s share price of 36 percent since June 2018.
Chaired by James A. Bristol
Deciphera Pharmaceuticals, Inc. is chaired by James A. Bristol.
James A. Bristol is Chairman of the Deciphera Board of Directors. Bristol worked for 32 years in drug discovery research and preclinical development at Schering-Plough Corporation, Parke-Davis and Pfizer Inc., serving in various senior research and development roles.
In the position of CEO since 2014
Michael D. Taylor has served as the Company’s President and Chief Executive Officer since March 2014 and as a member of the Company’s Board of Directors since March 2014.
Prior to joining Deciphera, Taylor was Chief Executive Officer of Ensemble Therapeutics, Corp., a small molecule drug discovery company, from July 2007 to October 2013.
Prior to joining Ensemble, Taylor was Senior Vice President for Pfizer Inc.’s Global R&D division and served as Vice President, Drug Development at Warner-Lambert/Parke-Davis, where he led early and late-stage development projects across multiple therapeutic areas, including Lipitor® and Neurontin®.
Taylor has authored or coauthored 65 manuscripts and published abstracts and is co-inventor on eight patents.
Taylor holds a Ph.D. in Medicinal Chemistry from the State University of New York at Buffalo School of Pharmacy, was awarded an NIH postdoctoral fellowship in natural products synthesis and structure elucidation at the University of Pennsylvania, and holds a B.S. magna cum laude in chemistry from the University of South Florida.
Taylor will transition to senior advisor to the Company for six months; Taylor will also remain a member of the Company’s Board of Directors.
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 Deciphera and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 10.2019 ($).