- Push-out Score determined
- After less than two years in the position
- Thanks for Mallon
- Tom McCourt taking over in the interim
- Search for a successor
- Mallon said 81 words
(exechange) — Boston, Massachusetts, February 8, 2021 — Mark Mallon, chief executive of Ironwood, leaves. As announced by Ironwood Pharmaceuticals Inc. in a news release and in a regulatory filing published on Monday, February 8, 2021, Mark Mallon leaves his post as chief executive officer of the healthcare company after less than two years in the role, effective March 12, 2021.
Ironwood will undertake a search for a successor.
Mark Mallon’s duties as CEO will be taken over in the interim by Thomas (Tom) McCourt, currently president of Ironwood Pharmaceuticals Inc., as interim Chief Executive Officer.
“To pursue another leadership opportunity”
Mark Mallon’s departure from the CEO post is explained as follows. Ironwood said: “Mark Mallon plans to step down as chief executive officer and a member of the Ironwood Board of Directors in order to pursue another leadership opportunity, effective March 12, 2021.”
Precise information regarding Mark Mallon’s future plans was not immediately available.
Ironwood said: “On February 4, 2021, Mark Mallon notified Ironwood Pharmaceuticals, Inc. (the “Company”) that he is resigning from his position as Chief Executive Officer and a member of the Company’s Board of Directors, in each case effective March 12, 2021.”
“Not due to any disagreement”
“Mr. Mallon’s resignation is not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices,” Ironwood said.
Share price decline since April 2019
The announcement follows a decline in Ironwood Pharmaceuticals Inc.’s share price of 12% since April 2019. April 2019 is the month in which Mallon’s tenure as CEO began.
In the position of CEO since 2019
Mark Mallon became CEO of the Company in 2019.
Prior to joining Ironwood in January 2019 as executive senior advisor and becoming chief executive officer of Ironwood in April 2019, Mallon was a member of the senior executive team of AstraZeneca PLC and led certain key strategic functions: global product and portfolio strategy, global medical affairs, and corporate affairs.
After joining AstraZeneca in 1994, Mallon held a number of senior sales and marketing roles, including executive vice president, international from January 2013 to April 2017 and executive vice president, global product and portfolio strategy from August 2016 to December 2018.
Mallon started his career in the biopharmaceutical industry in management consulting.
Mallon earned his B.S. in chemical engineering from the University of Pennsylvania and his M.B.A. in marketing and finance from the Wharton School of Business.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Mark Mallon’s move on a scale of 0 to 10.
exechange reached out to Ironwood and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 7.2021 ($).