- Push-out Score determined
- After 15 years in the position
- Praise and thanks for Kane
- Search for a successor
- Kane spoke at length and said 150 words
(exechange) — Durham, North Carolina, April 6, 2021 — Matt Kane, chief executive of Precision BioSciences, leaves. As announced by Precision BioSciences Inc. in a news release on Tuesday, April 6, 2021, Matthew (Matt) Kane leaves his post as chief executive officer at the clinical stage biotechnology company after 15 years in the role, effective when his successor has been identified.
It is the end of an era.
Precision BioSciences will undertake a search for a successor.
“Maximize the opportunities”
Precision BioSciences did not give an explicit reason for Matt Kane’s departure from the CEO post, leaving room for speculation. Kevin Buehler, Chair, Precision BioSciences Board of Directors, said: “By embarking on the search for Precision’s next CEO now, while our lead programs are progressing in early clinical development, we seek to identify the person who will lead Precision through the next phase of growth and maximize the opportunities for the ARCUS platform.”
Precise information regarding Matt Kane’s future plans was not immediately available.
Precision BioSciences said: “Matt Kane, Co-Founder and Chief Executive Officer, is expected to continue in his current leadership capacity and as a board member until his successor has been identified. Mr. Kane will also serve as an advisor for a period of time after the next CEO is hired ensuring a smooth transition.”
Share price increase since April 2020
The announcement follows an increase in Precision BioSciences Inc.’s share price of 99% since April 2020.
Chaired by Kevin Buehler
Kevin Buehler serves as Precision BioSciences Inc.’s Chairman.
Kevin J. Buehler has served on the Company’s board of directors since November 2019 and, in March 2020, was appointed Interim Chair of the Board.
In the position of CEO since 2006
Matt Kane became CEO of the Company in 2006.
During the transition period, Kane will continue to lead operational activities and the Precision BioSciences Board of Directors will continue to provide strategic guidance and oversight to the company.
Matthew Kane, a co-founder of Precision, has served as the Company’s President and Chief Executive Officer and a director since the Company’s inception in 2006.
Kane has nearly 20 years of experience in the life sciences industry, most of which has been spent specifically working in genome editing.
Prior to co-founding Precision, Kane was with Suros Surgical Systems.
Kane received a B.S. in mechanical engineering and an M.S. in biomedical engineering from the Rose-Hulman Institute of Technology and an M.B.A. from Duke University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Matt Kane’s move on a scale of 0 to 10.
exechange reached out to Precision BioSciences and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 15.2021 ($).