- Push-out Score determined
- After nine years in the position
- Praise and thanks for Hunkapiller
- Search for a successor
- Hunkapiller said 117 words
(exechange) — Menlo Park, California, June 10, 2020 — Mike Hunkapiller, chief executive of Pacific Biosciences, leaves. As announced by Pacific Biosciences of California Inc. in a news release and in a regulatory filing published on Wednesday, June 10, 2020, Michael (Mike) Hunkapiller leaves his post as chief executive officer at the provider of sequencing of genomes, transcriptomes and epigenomes after nine years in the role, effective by the end of the year.
The announcement of Mike Hunkapiller’s move comes three months after Christian Henry took over as Chairman of Pacific Biosciences of California, Inc.
Pacific Biosciences will undertake a search for a successor.
Mike Hunkapiller’s move forms part of a management shake-up also involving the position of Chief Financial Officer.
“Increasing commercial opportunity”
Pacific Biosciences did not give an explicit reason for Mike Hunkapiller’s departure from the CEO post. Christian Henry, Chairman of the Board, said: “The Board will be looking for a new Chief Executive Officer who has a track record of significant commercial success and can balance our commitment to scientific and engineering innovation with our increasing commercial opportunity.”
Precise information regarding Mike Hunkapiller’s future plans was not immediately available.
“Retiring”
Pacific Biosciences said: “Michael Hunkapiller, Ph.D. is retiring as Chief Executive Officer and President by the end of the year. Dr. Hunkapiller plans to remain on the Board of Directors.”
Pacific Biosciences further said: “Michael Hunkapiller will retire from his role as Chief Executive Officer and President by the end of the year.”
Share price decline
The announcement follows a decline in Pacific Biosciences of California Inc.’s share price of 28% since June 2015.
Chaired by Christian Henry
Pacific Biosciences of California Inc. is chaired by Christian Henry.
From 2005 through January 2017, Henry was a key member of the executive team at Illumina, Inc. (NASDAQ: ILMN) where he served in a number of different roles including Chief Financial Officer, Chief Commercial Officer and General Manager of the Life Sciences Business.
In the position of CEO since 2012
Mike Hunkapiller became CEO of the Company in 2012.
Michael Hunkapiller, Ph.D. became the Company’s President and Chief Executive Officer in 2012.
He was Chairman of the Company’s Board of Directors from 2011 until March 2, 2020 and has served on the Company’s Board of Directors since 2005.
Since November 2004, Hunkapiller has been a General Partner at Alloy Ventures, or Alloy, a venture capital firm.
Prior to Alloy, Hunkapiller spent 21 years at Applied Biosystems Inc.
At Applied Biosystems, he held various positions, most recently serving as president and general manager.
Hunkapiller holds a Ph.D. in Chemical Biology from the California Institute of Technology and a B.S. in Chemistry from Oklahoma Baptist University.
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 Pacific Biosciences and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 24.2020 ($).