- Push-out Score determined
- After about a year in the position
- Praise, thanks and good wishes for Kingsley
- Nagesh Mahanthappa taking over temporarily
- Search for a successor
- Kingsley kept it short and said 41 words
(exechange) — Cambridge, Massachusetts, August 3, 2021 — Tony Kingsley, chief executive of Scholar Rock, leaves. As announced by Scholar Rock Holding Corp. in a news release and in a regulatory filing published on Tuesday, August 3, 2021, Stuart A. (Tony) Kingsley has left his post as chief executive officer at the clinical-stage biopharmaceutical company after about a year in the role, effective July 29, 2021.
Scholar Rock will undertake a search for a successor.
Tony Kingsley’s duties as CEO will be taken over temporarily by Nagesh Mahanthappa, founder and former chief executive at Scholar Rock Holding Corp., as Interim Chief Executive Officer.
“Lead the Company to the next level”
Scholar Rock did not give an explicit reason for Tony Kingsley’s departure from the CEO post. David Hallal, Chairman of the Scholar Rock Board of Directors, said: “We look forward to working closely with Nagesh and the rest of the executive team to identify a high-caliber, strategic executive with broad expertise from research through commercialization to lead the Company to the next level.”
Precise information regarding Tony Kingsley’s future plans was not immediately available.
“Has departed/employment ended”
Scholar Rock said: “CEO Tony Kingsley has departed Scholar Rock and has also stepped down from the Board of Directors.”
Scholar Rock further said: “On July 29, 2021, Stuart Kingsley’s employment as the Chief Executive Officer and President of Scholar Rock Holding Corporation (the “Company”) ended, as did his service on the Company’s Board of Directors (the “Board”).”
“Not the result of any disagreement”
“Mr. Kingsley’s departure from the Company was not the result of any disagreement with the Company on any matters relating to the Company’s operations, policies or practices,” Scholar Rock said.
Share price decline since January 2021
The announcement follows a decline in Scholar Rock Holding Corp.’s share price of 27% since January 2021.
Chaired by David Hallal
David Hallal serves as Scholar Rock Holding Corp.’s Chairman.
David Hallal has served as the Chairman of the Company’s board of directors since July 2017. Since December 2017, Hallal has served as Chairman and Chief Executive Officer of ElevateBio, LLC, and since September 2018, he has also served as Chairman and Chief Executive Officer of AlloVir, Inc.
In the position of CEO since 2020
Tony Kingsley became CEO of the Company in 2020.
Stuart A. Kingsley has served as the Company’s President and Chief Executive Officer since August 2020, and as a member of the Board since May 2020.
Kingsley was most recently President and Chief Executive Officer of Taris Bio, prior to its acquisition by Janssen Pharmaceuticals at the end of 2019.
Prior to Taris, he served as President and Chief Operating Officer of The Medicines Company.
From 2010 to 2015, Kingsley led global commercial operations at Biogen, Inc. as Executive Vice President.
Prior to Biogen, he held leadership roles in the medical device industry, including senior vice president and general manager of the gynecological surgical products business at Hologic, Inc. and division president, diagnostic products at Cytyc Corporation (now part of Hologic, Inc.), and was also a partner at McKinsey & Company.
He received a BA in government from Dartmouth College and an MBA from Harvard Business School.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Tony Kingsley’s move on a scale of 0 to 10.
exechange reached out to Scholar Rock and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 32.2021 ($).