- Push-out Score determined
- After less than one year in the position
- Praise and thanks for Mallik
- Howard Jonas taking over
- Mallik said 105 words
(exechange) — Newark, New Jersey, November 22, 2021 — Ameet Mallik, chief executive of Rafael Holdings, leaves. As announced by Rafael Holdings Inc. in a news release and in a regulatory filing published on Monday, November 22, 2021, Ameet Mallik leaves his post as chief executive officer at the holding company focused on developing novel cancer metabolism therapeutics, after less than one year in the role, effective January 31, 2022.
Ameet Mallik’s duties as CEO will be taken over by Howard Jonas, most recently Chairman of the Board at Rafael Holdings Inc.
Ameet Mallik’s move coincides with a management shake-up also involving the positions of President; Head of Research and Development; Chief Commercial and Business Officer; Chief Legal Officer; Chief Corporate Affairs Officer; and Chief Compliance and Ethics Officer.
Rafael Holdings is focused on development of novel cancer therapies. The company is a significant investor in two clinical stage oncology companies, Rafael Pharmaceuticals, Inc. and LipoMedix Pharmaceuticals Ltd. Through its wholly owned Barer Institute subsidiary, the company is developing a pipeline of compounds focused on the regulation of cancer metabolism.
“To Support Earlier Stage Pipeline Focus”
Rafael Holdings did not give an explicit reason for Ameet Mallik’s departure from the CEO post. Rafael Holdings stated: “Rafael Holdings Realigns Leadership Team to Support Earlier Stage Pipeline Focus.”
Precise information regarding Ameet Mallik’s future plans was not immediately available.
“Resigned”
Rafael Holdings said: “Ameet Mallik will transition his Chief Executive Officer responsibilities to Chairman, Howard Jonas, as of February 1, 2022, and will remain highly engaged as a member of the Board of Directors of Rafael Holdings.”
Rafael Holdings further said: “On November 21, 2021, Ameet Mallik resigned as Chief Executive Officer of Rafael Holdings, Inc. (the “Company”), effective January 31, 2022.”
Share price decline since May 2021
The announcement follows a decline in Rafael Holdings Inc.’s share price of 86% since May 2021. May 2021 is the month in which Mallik’s tenure as CEO began.
In the position of CEO since 2021
Ameet Mallik became CEO of the Company in 2021.
On March 11, 2021, Rafael Holdings announced that its Board of Directors has recruited Ameet Mallik to become the company’s Chief Executive Officer, succeeding its founder, Howard Jonas.
Ameet Mallik’s appointment became effective May 1, 2021.
Ameet Mallik has served as Executive Vice President and Head, U.S. Oncology of Novartis since November 2017.
In this role, Mallik was responsible for Novartis’s commercial and medical oncology operations in the United States.
From November 2015 to November 2017, Mallik served as Global Head, Marketing, Value and Access, and from April 2014 to November 2015 as Head, Latin America and Canada, both for Novartis Oncology.
Mallik began his career at Novartis as Head of Strategic Planning and has held a number of commercial leadership roles at Novartis and Sandoz.
At Sandoz, Mallik was Head of Biopharmaceuticals & Oncology Injectables at Sandoz. Mallik previously worked as an Associate Principal at McKinsey and Company.
Mallik serves on the Health Section Governing Board of BIO, the world’s largest trade association representing biotechnology companies and institutions.
Mallik holds an M.B.A. from The Wharton School at the University of Pennsylvania, and an M.S. in Biotechnology and B.S. in Chemical Engineering, both from Northwestern University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Ameet Mallik’s move on a scale of 0 to 10.
exechange reached out to Rafael Holdings and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 48.2021 ($).