- Push-out Score determined
- After almost nine years in the position
- Praise and thanks for Massarany
- Scott Mendel taking over in the interim
- Search for a successor
(exechange) — Carlsbad, California, February 10, 2020 — Hany Massarany, chief executive of GenMark, leaves. As announced by GenMark Diagnostics Inc. in a news release on Monday, February 10, 2020, Hany Massarany leaves his post as chief executive officer at the provider of automated, multiplex molecular diagnostic testing systems after almost nine years in the role, effective immediately.
GenMark will undertake a search for a successor.
Hany Massarany’s duties as CEO will be taken over in the interim by Scott Mendel, most recently Chief Operating Officer of GenMark Diagnostics Inc., as Interim Chief Executive Officer.
No reason given
In the announcement, GenMark did not explicitly explain the reason for Hany Massarany’s move.
Precise information regarding Hany Massarany’s future plans was not immediately available.
“Stepped down”
GenMark said: “Hany Massarany has stepped down as President and CEO and as a member of the company’s Board of Directors, effective immediately.”
Share price decline
The announcement follows a decline in GenMark Diagnostics Inc.’s share price of 60% since June 2017.
Chaired by Kevin O’Boyle
GenMark Diagnostics Inc. is chaired by Kevin O’Boyle.
O’Boyle served on the board of directors of GenMark Diagnostics, Inc. since March 2010.
In the position of CEO since 2011
Hany Massarany became CEO of the Company in 2011.
Massarany has served as President and Chief Executive Officer and as a member of the Company’s Board since May 2011.
From February 2009 to April 2011, Massarany served as President of Ventana Medical Systems, a supplier of automated diagnostic systems to the anatomical pathology market, and Head of Roche Tissue Diagnostics, a division of F. Hoffman-La Roche Ltd. focused on manufacturing instruments and reagents that automate tissue processing and slide staining diagnostics for cancer.
From 1999 to 2009, Massarany held various global leadership positions with Ventana, including Chief Operating Officer, Executive Vice President Worldwide Operations, Senior Vice President, Corporate Strategy and Development, and Vice President North American Commercial Operations.
Prior to Ventana, Massarany held executive management positions with Bayer Diagnostics and Chiron Diagnostics, working in both the Asia Pacific region and the United States.
Massarany received a B.S. degree in Microbiology and Immunology from Monash University, Australia and an MBA from Melbourne University, Australia.
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 GenMark and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 7.2020 ($).