- Push-out Score determined
- After about six years in the position
- Praise and thanks for Bazemore
- Grant Bogle taking over
- Bazemore said 110 words
(exechange) — Cambridge, Massachusetts, August 9, 2021 — Rob Bazemore, chief executive of Epizyme, leaves. As announced by Epizyme Inc. in a news release and in a regulatory filing published on Monday, August 9, 2021, Robert B. (Rob) Bazemore leaves his post as chief executive officer at the commercial-stage biopharmaceutical company after about six years in the role, effective immediately.
Rob Bazemore’s duties as CEO will be taken over by Grant Bogle, a former Senior Vice President and Chief Commercial Officer at Tesaro, Inc.
Already a director
Bogle is already a director of Epizyme. Generally speaking, most director-turned-CEO appointments occur following a sudden resignation of the outgoing CEO and signal a lack of preparedness on the company’s part to groom internal talent. Directors-turned-executives represent a blend of outsider and insider.
They don’t have the constraints of a pure insider when it comes to leading painful changes or making unpopular decisions, and they have more company knowledge than a pure outsider.
Having been a director, Bogle understands the expectations and dynamics of the board and has knowledge of Epizyme’s organization, risk-management practices and strategy.
“I feel the time is right”
Rob Bazemore’s departure from the CEO post is explained as follows. Bazemore said: “With the Board’s support, I feel the time is right to hand the reins over to Grant and I am excited to work closely with him to achieve Epizyme’s vision.”
“Other areas of his life that have become a priority for him, personally”
Epizyme stated: “Following the two approvals of TAZVERIK in the U.S. and finalization of the next five-year growth strategy for the Company, Mr. Bazemore felt that this represented an opportunity for a new CEO to lead the Company’s next phase of growth, with a particular focus on commercial expansion of TAZVERIK. This transition, as initiated by Mr. Bazemore, allows him to redirect his time and energy toward other areas of his life that have become a priority for him, personally.”
“Resigned”
Epizyme said: “Epizyme, Inc. (Nasdaq: EPZM), a fully integrated, commercial-stage biopharmaceutical company developing and delivering novel epigenetic therapies today announced its Chief Executive Officer (CEO) succession plan, with industry veteran Grant Bogle succeeding Robert Bazemore, as President and CEO.”
Epizyme further said: “On August 3, 2021, the Board approved the appointment of Grant Bogle as President and Chief Executive Officer of the Company effective as of August 9, 2021 (the “Commencement Date”). Mr. Bogle will succeed Robert B. Bazemore, who resigned as President and Chief Executive Officer and as a member of the Board on August 3, 2021, in each case effective as of the Commencement Date.”
Share price decline since September 2015
The announcement follows a decline in Epizyme Inc.’s share price of 67% since September 2015. September 2015 is the month in which Bazemore’s tenure as CEO began.
In the position of CEO since 2015
Rob Bazemore became CEO of the Company in 2015.
Bazemore will move into an active consultancy role, serving as an advisor to the Company, and in particular to Bogle, for the next 12 months to ensure a smooth transition.
Robert B. Bazemore has served as a director and the Company’s President and Chief Executive Officer since September 2015.
Prior to joining the Company, from September 2014 to June 2015, Bazemore served as the Chief Operating Officer of Synageva BioPharma Corp., a biopharmaceutical company developing therapeutic products for rare disorders.
Prior to joining Synageva, Bazemore served in increasing levels of responsibility at Johnson & Johnson, a healthcare company, including Vice President of Centocor Ortho Biotech Sales & Marketing from 2008 to 2010, President of Janssen Biotech from January 2010 to October 2013 and Vice President of Global Surgery at Ethicon from October 2013 to September 2014.
Prior to Johnson & Johnson, Bazemore worked at Merck & Co., Inc. for eleven years, where he served in a variety of roles in medical affairs, sales and marketing.
Bazemore serves on the board of directors of Ardelyx, Inc., a publicly traded biopharmaceutical company, since June 2016 and Nuvation Bio, Inc., a publicly traded biopharmaceutical company, since July 2020.
Bazemore previously served as a director of Neon Therapeutics, Inc., a publicly traded, clinical-stage immuno-oncology company, from November 2018 until its sale to BioNTech in May 2020.
He received a B.S. in biochemistry from the University of Georgia.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Rob Bazemore’s move on a scale of 0 to 10.
Read the full story in the exechange report 33.2021 ($).
