- Push-out Score determined
- After almost nine years in the position
- Praise for Baum
- David Meek taking over
- Baum will remain as President, Founder and Head of Research and Development at Mirati
- Baum said 96 words
(exechange) — San Diego, California, September 20, 2021 — Chuck Baum, chief executive of Mirati, leaves his position. As announced by Mirati Therapeutics Inc. in a news release and in a regulatory filing published on Monday, September 20, 2021, Charles M. (Chuck) Baum leaves his post as chief executive officer at the clinical-stage targeted oncology company, after almost nine years in the role, effective immediately.
Chuck Baum’s duties as CEO will be taken over by David Meek, most recently Chief Executive Officer at FerGene, Inc.
The fact that Chuck Baum’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
“Proven track record in leading successful, high-performing commercial-stage companies”
Mirati did not give an explicit reason for Chuck Baum’s departure from the CEO post. Baum said: “David brings broad global oncology experience and a proven track record in leading successful, high-performing commercial-stage companies.”
Baum will remain as President, Founder and Head of Research and Development at Mirati
“Charles M. Baum, M.D., Ph.D. will continue to lead the research and development (R&D) organization as president, founder and head of R&D. Dr. Baum will remain on the Company’s Board of Directors,” Mirati said.
Mirati said: “On September 20, 2021, Charles M. Baum, M.D., Ph.D., transitioned from President and Chief Executive Officer and principal executive officer of Mirati Therapeutics, Inc. (the “Company) to President, Founder and Head of Research and Development of the Company. Dr. Baum will continue to lead the Company’s research and development efforts and serve as a member of the Company’s Board of Directors (the “Board”).”
Share price increase since September 2018
The announcement follows an increase in Mirati Therapeutics Inc.’s share price of 204% since September 2018.
In the position of CEO since 2012
Chuck Baum became CEO of the Company in 2012.
Charles M. Baum, M.D., Ph.D. has served as the Company’s President and Chief Executive Officer and member of the Company’s Board of Directors since November 2012.
From June 2003 to September 2012, he was at Pfizer as Senior Vice President for Biotherapeutic Clinical Research within Pfizer’s Worldwide Research & Development division and as Vice President and Head of Oncology Development and Chief Medical Officer for Pfizer’s Biotherapeutics and Bioinnovation Center.
From 2000 to 2003, he was responsible for the development of several oncology compounds at Schering-Plough Corporation (acquired by Merck).
His career has included academic and hospital positions at Stanford University and Emory University, as well as positions of increasing responsibility within the pharmaceutical industry at SyStemix, Inc. (acquired by Novartis AG), G.D. Searle & Company (acquired by Pfizer), Schering-Plough Corporation (acquired by Merck) and Pfizer.
Baum has served on the board of directors of BCTG Acquisition Corp. since September 2020, and previously served on the board of directors of Immunomedics, Inc. from February 2019 until October 2020 (acquired by Gilead Sciences) and was on the board of directors of Array BioPharma from 2014 until July 2019 (acquired by Pfizer).
Baum received his M.D. and Ph.D. (Immunology) degrees from Washington University School of Medicine in St. Louis, Missouri and completed his postdoctoral training at Stanford University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Chuck Baum’s move on a scale of 0 to 10.
exechange reached out to Mirati and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 39.2021 ($).