- Push-out Score determined
- After about five years in the position
- Philip Astley-Sparke taking over
- Coffin will remain as President and Chief Research & Development Officer at Replimune
- Coffin spoke at length and said 132 words
(exechange) — Woburn, Massachusetts, January 10, 2020 — Rob Coffin, chief executive of Replimune, leaves his position. As announced by Replimune Group Inc. in a news release published on Thursday, January 9, 2020 and in a regulatory filing published on Friday, January 10, 2020, Robert (Rob) Coffin has left his post as chief executive officer at the biotechnology company after about five years in the role, effective January 8, 2020.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who announced their departure over the past 12 months was 7.5 years, according to data compiled by exechange.
Rob Coffin’s duties as CEO will be taken over by Philip Astley-Sparke, most recently part-time Executive Chairman of Replimune Group Inc.
“As it prepares for future commercialization”
Rob Coffin’s departure from the CEO post is explained as follows. Replimune said: “Replimune Group Inc. (Nasdaq: REPL), a biotechnology company developing oncolytic immuno-gene therapies derived from its Immulytic™ platform, today announced the evolution of the responsibilities within its executive leadership team, reflecting the progress the Company has made into later stage clinical development and as it prepares for future commercialization.”
Coffin will remain as President and Chief Research & Development Officer at Replimune
“Reflecting the advancement of the Company’s development programs, the Company’s founder, Robert Coffin, Ph.D., has elected to transition from his current role as Chief Executive Officer and take up the newly-created role of President and Chief Research & Development Officer. In this new role Dr. Coffin will co-lead the Company together with Philip Astley-Sparke, currently part-time Executive Chairman, who will become full-time Chief Executive Officer. The Company plans to appoint an independent Chairman of the Board of Directors in due course, with Philip Astley-Sparke remaining as Chairman until an appointment is made. Dr. Coffin will continue to serve as a member of the Board of Directors,” Replimune said.
Replimune said: “[E]ffective as of January 8, 2020 (the “Effective Date”), Dr. Robert Coffin transitioned from the role of Chief Executive Officer to the role of President and Chief Research & Development Officer. In connection with such transition, Mr. Philip Astley-Sparke, the Company’s part-time Executive Chairman, replaced Dr. Coffin as the Company’s full time Chief Executive Officer.”
Share price increase since January 2019
The announcement follows an increase in Replimune Group Inc.’s share price of 45% since January 2019.
In the position of CEO since 2015
Rob Coffin became CEO of the Company in 2015.
Robert Coffin is one of the Company’s co-founders and has served as a member of the Company’s Board and as the Company’s President and Chief Executive Officer since the Company’s formation in 2015.
From 2013 to 2015, Coffin served as a consultant for a number of biotechnology companies.
From 2011 to 2013, Coffin served as Vice President of Global Development at Amgen, Inc.
In 1999, Coffin co-founded BioVex Group, Inc., a spin out from his research group at University College London.
Coffin served as the Chief Technology Officer of BioVex Group, Inc. until it was acquired by Amgen, Inc. in 2011.
During his time at BioVex, Inc., Coffin invented all BioVex, Inc. products and oversaw all research and clinical development, including bringing T-Vec into two pivotal Phase 3 clinical trials.
Coffin was awarded a Ph.D. in Virology from Imperial College London prior to his move to University College London in 1991.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Replimune and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 2.2020 ($).