- Push-out Score determined
- After almost 11 years in the position
- Praise and thanks for Walker
- Doug Manion taking over
- Walker will remain as chair at Aclaris
- Walker said 99 words
(exechange) — Wayne, Pennsylvania, November 22, 2022 — Neal Walker, chief executive of Aclaris, leaves his position. As announced by Aclaris Therapeutics Inc. in a news release and in a regulatory filing published on Tuesday, November 22, 2022, Neal Walker leaves his post as chief executive officer at the clinical-stage biopharmaceutical company, after almost 11 years in the role, effective December 31, 2022.
Neal Walker’s duties as CEO will be taken over by Douglas (Doug) Manion, currently president and chief operating officer at Aclaris Therapeutics Inc.
Neal Walker’s move coincides with a management shake-up also involving the positions of chief financial officer; and general counsel and corporate secretary.
“The right CEO to deliver on our strategy”
Aclaris did not give an explicit reason for Neal Walker’s departure from the CEO post. Christopher Molineaux, current chair, said: “Our board and leadership team have always been thoughtful and deliberate about how the company should evolve over time. We believe Doug, an experienced executive working in both large and small life sciences companies, is the right CEO to deliver on our strategy and continue to build the company.”
Walker will remain as chair at Aclaris
“Effective January 1, 2023, co-founder and current chief executive officer, Dr. Neal Walker, will transition to the role of chair of the board of directors where he will continue to help guide the long-term strategic direction of Aclaris,” Aclaris said.
Aclaris said: “On November 18, 2022, Dr. Walker notified Aclaris Therapeutics, Inc. (the “Company”) that he will resign from his position as Chief Executive Officer of the Company, effective December 31, 2022.”
“Not the result of any disagreement”
“Dr. Walker’s resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices,” Aclaris said.
Share price increase since November 2019
The announcement follows an increase in Aclaris Therapeutics Inc.’s share price of 865% since November 2019.
In the position of CEO since 2012
Neal Walker became CEO of the Company in 2012.
Neal Walker co-founded the Company and has served as President and Chief Executive Officer and a member of the Company’s Board since the Company’s inception in July 2012.
Walker co-founded NeXeption, LLC, a biopharmaceutical assets management company, in 2012, and its affiliated companies.
Walker co-founded and served as President and Chief Executive Officer and a member of the board of directors of Vicept Therapeutics, Inc., a dermatology-focused specialty pharmaceutical company, from 2009 until its acquisition by Allergan, Inc. in 2011.
Previously, Walker co-founded and led a number of life science companies, including Octagon Research Solutions, Inc., a software and services provider to biopharmaceutical companies (acquired by Accenture plc), Trigenesis Therapeutics, Inc., a specialty dermatology company, where he served as Chief Medical Officer (acquired by Reddy’s Laboratories Inc.), and Cutix Inc., a commercial dermatology company.
He began his pharmaceutical industry career at Johnson and Johnson, Inc. Walker is on the board of directors of Aldeyra Therapeutics, Inc., a publicly held biotechnology company, as well as several private companies.
Walker received an M.B.A. degree from The Wharton School of the University of Pennsylvania, a Doctor of Osteopathic Medicine degree from the Philadelphia College of Osteopathic Medicine and a B.A. degree in Biology from Lehigh University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Neal Walker’s move on a scale of 0 to 10.
exechange reached out to Aclaris and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 48.2022 ($).