- Push-out Score determined
- After about five years in the position
- Accolades, praise and thanks for Bassaganya-Riera
- Tim Mayleben taking over temporarily
- Search for a successor
- Bassaganya-Riera said 130 words
(exechange) — Blacksburg, Virginia, November 8, 2021 — Josep Bassaganya-Riera, chief executive of Landos Biopharma, leaves. As announced by Landos Biopharma Inc. in a news release on Monday, November 8, 2021, Josep Bassaganya-Riera leaves his post as chief executive officer at the clinical-stage biopharmaceutical company, after about five years in the role, effective immediately.
Landos Biopharma will undertake a search for a successor.
Josep Bassaganya-Riera’s duties as CEO will be taken over temporarily by Tim M. Mayleben, most recently President, CEO and Director at Esperion Therapeutics, Inc., as Interim Chief Executive Officer.
Already a director
Mayleben is already a director of Landos Biopharma. 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, Mayleben understands the expectations and dynamics of the board and has knowledge of Landos Biopharma’s organization, risk-management practices and strategy.
Chris Garabedian, also a Landos Director, has been appointed Chairman of the Board.
“This is the right time”
Josep Bassaganya-Riera’s departure from the CEO post is explained as follows. Chris Garabedian, Chairman of the Board, said: “With seven product candidates in the pipeline across three novel mechanisms, Josep and the Board agree that this is the right time to transition to our next phase of leadership.”
Precise information regarding Josep Bassaganya-Riera’s future plans was not immediately available.
Landos Biopharma said: “Josep Bassaganya-Riera, Ph.D., has stepped down as Chairman, President and Chief Executive Officer, effective immediately.”
Share price increase since June 2021
The announcement follows an increase in Landos Biopharma Inc.’s share price of 30% since June 2021.
In the position of CEO since 2017
Josep Bassaganya-Riera became CEO of the Company in 2017.
Bassaganya-Riera will serve as an advisor to the Company to ensure a smooth transition.
Josep Bassaganya-Riera has served as the Company’s Chairman, President and Chief Executive Officer since the Company’s founding in January 2017.
Bassaganya-Riera has served as the Director of the Nutritional Immunology and Molecular Medicine Laboratory since July 2002 and the Chairman of the board of directors of Biotherapeutics Inc. since October 2008.
He previously served as the Chief Executive Officer of Biotherapeutics from October 2008 to September 2017 and a Research Professor of Immunology at Virginia Tech from December 2002 to May 2020.
Bassaganya-Riera holds a degree in Veterinary Medicine from Universitat Autònoma de Barcelona and a Ph.D. in Nutrition and Immunology from Iowa State University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Josep Bassaganya-Riera’s move on a scale of 0 to 10.
exechange reached out to Landos Biopharma and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 46.2021 ($).