- Push-out Score determined
- After 45 years in the position
- Search for a successor
- Rabbani said 81 words
(exechange) — New York, March 15, 2021 — Elazar Rabbani, chief executive of Enzo, leaves. As announced by Enzo Biochem Inc. in a news release on Monday, March 15, 2021, Elazar Rabbani leaves his post as chief executive officer at the biosciences and diagnostics company after 45 years in the role, effective once a qualified successor is identified and hired by the Board.
It is the end of an era.
Enzo will undertake a search for a successor.
“To fully capitalize on the potential of Enzo’s business model”
Enzo did not give an explicit reason for Elazar Rabbani’s departure from the CEO post, leaving room for speculation. Enzo said: “To fully capitalize on the potential of Enzo’s business model, the Company and the Board of Directors have retained the global search firm Korn Ferry to conduct the CEO search.”
Enzo said: “After years of dedicated service, Dr. Elazar Rabbani, Founder and CEO, will remain a Director of the Company and will step down as CEO and transition to a scientific role with the Company once a qualified successor is identified and hired by the Board.”
Share price decline since March 2018
The announcement follows a decline in Enzo Biochem Inc.’s share price of 56% since March 2018.
In the position of CEO since 1976
Elazar Rabbani became CEO of the Company in 1976.
Elazar Rabbani is an Enzo Biochem founder and has served as the Company’s Chairman of the Board and Chief Executive Officer since its inception in 1976 and as Secretary since November 25, 2009.
Rabbani has authored numerous scientific publications in the field of molecular biology, in particular, nucleic acid labeling and detection.
He is also the lead inventor of many of the Company’s pioneering patents covering a wide range of technologies and products.
Rabbani received his Bachelor of Arts degree from New York University in Chemistry and his Ph.D. in Biochemistry from Columbia University.
He is a member of the American Society for Microbiology.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Elazar Rabbani’s move on a scale of 0 to 10.
exechange reached out to Enzo and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 12.2021 ($).