- Push-out Score determined
- After less than one year in the position
- Thanks and good wishes for Mallon
- Responsibilities redistributed
- Search for a successor
(exechange) — Ft. Myers, Florida, March 28, 2022 — Mark Mallon, chief executive of NeoGenomics, leaves — by “mutual agreement.” As announced by NeoGenomics Inc. in a news release and in a regulatory filing published on Monday, March 28, 2022, Mark W. Mallon leaves his post as chief executive officer at the provider of cancer-focused genetic testing services and global oncology contract research services, after less than one year in the role, effective immediately.
NeoGenomics will undertake a search for a successor.
Following Mark Mallon’s departure, the position of Chief Executive Officer will not be filled for the time being. Mark Mallon’s responsibilities are being redistributed.
No reason given
In the announcement, NeoGenomics did not explicitly explain the reason for the move.
Precise information regarding Mark Mallon’s future plans was not immediately available.
“Step down”
NeoGenomics said: “[T]he Board of Directors (the “Board”) and Mark Mallon, Chief Executive Officer, have agreed that Mr. Mallon will step down as CEO and member of the Board, effective immediately.”
NeoGenomics further said: “On March 27, 2022, Mark W. Mallon, Chief Executive Officer (“CEO”) and a member of the Board of Directors (the “Board”) of NeoGenomics, Inc. (the “Company”), stepped down from his positions as CEO and director, effective as of March 28, 2022.”
“Not the result of any disagreements”
“This mutual agreement was not the result of any disagreements about strategy with management or the Board, inappropriate action by CEO, or any violation of company policy or any accounting irregularity,” NeoGenomics said.
Share price decline since April 2021
The announcement follows a decline in NeoGenomics Inc.’s share price of 64% since April 2021. April 2021 is the month in which Mallon’s tenure as CEO began.
In the position of CEO since 2021
Mark Mallon became CEO of the Company in 2021.
Mark Mallon became NeoGenomics’ CEO and joined the NeoGenomics Board of Directors effective April 19, 2021.
Mallon has significant healthcare and pharmaceutical experience and a strong track record of success building industry-leading businesses in the U.S. and globally.
Mallon has served as CEO of Ironwood Pharmaceuticals since January 2019.
Prior to his role at Ironwood Pharmaceuticals, he spent twenty-four years at AstraZeneca in various roles of increasing scope and responsibility, including serving on the Executive Committee and as Executive Vice President of Global Product and Portfolio Strategy, Medical Affairs and Corporate Affairs from 2016 through January 2019.
Prior to this role he held several senior sales and marketing roles at AstraZeneca, including Executive Vice President, International from 2013 through 2017.
He started his career in the biopharmaceutical industry in management consulting.
Mallon earned his B.S. in chemical engineering from the University of Pennsylvania and his master’s degree in business administration in marketing and finance from the Wharton School of Business.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Mark Mallon’s move on a scale of 0 to 10.
exechange reached out to NeoGenomics and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 14.2022 ($).