- After about three years in the position
- Praise, thanks and good wishes for Sundaram
- Erin Quirk taking over
- Sundaram said 69 words
(exechange) — Foster City, California, August 3, 2023 — Sen Sundaram, chief executive of Terns, leaves his position. As announced by Terns Pharmaceuticals Inc. in a news release and in a regulatory filing published on Thursday, August 3, 2023, Senthil (Sen) Sundaram leaves his post as chief executive officer at the clinical-stage biopharmaceutical company, after about three years in the role, effective immediately.
Sen Sundaram’s duties as CEO will be taken over by Erin Quirk, most recently President and Head of Research & Development at Terns Pharmaceuticals Inc., as principal executive officer.
Health reasons
The management change is explained as follows. Terns stated: “Senthil Sundaram has resigned from his position as Terns’ Chief Executive Officer for health reasons previously disclosed in January 2022.”
On January 19, 2022, Terns had announced: “Senthil Sundaram, the Company’s chief executive officer, has been diagnosed with cancer and will undergo aggressive treatment, including chemotherapy. Mr. Sundaram plans to continue in his role as chief executive officer during his treatment period and to work closely with the Company’s board of directors and management team to execute on the Company’s business priorities. It is expected that Mr. Sundaram will limit certain business activities, including travel, during his treatment. The Company requests that Mr. Sundaram’s privacy be respected during this period.”
“Resigned”
Terns said: “Senthil Sundaram has resigned from his position as Chief Executive Officer and as a member of the Board of Directors of the Company due to health reasons.”
Share price increase since August 2022
The announcement follows an increase in Terns Pharmaceuticals Inc.’s share price of 268% since August 2022.
In the position of CEO since 2020
Sen Sundaram became CEO of the Company in 2020.
Sundaram also resigned from the Board of Directors of Terns but will remain on as a Senior Advisor to the Company.
Senthil Sundaram has served as a member of the Company’s board of directors and as the Company’s Chief Executive Officer since July 2020.
Previously, he served as the Chief Financial Officer of Nightstar Therapeutics, plc, a publicly‑traded biotechnology company, from April 2017 until its acquisition by Biogen Inc. in June 2019.
From February 2013 to March 2017, Sundaram served in roles of increasing responsibility at Intercept Pharmaceuticals, Inc., a publicly-traded biotechnology company, most recently as the Head of Business Development.
He previously served on the board of directors of Sio Gene Therapies, Inc. (formerly Axovant Gene Therapies Ltd.), a publicly-traded biotechnology company, from July 2019 until April 2023 and on the board of directors of Social Capital Suvretta Holdings Corp. I, a publicly‑traded special purpose acquisition company, from September 2021 until August 2022.
Sundaram is also the founder and a director of the Peritoneal Cancer Foundation, a nonprofit organization dedicated to advancing research for peritoneal cancers.
Sundaram received his undergraduate degrees in Computer Engineering and Economics from Brown University.
69 words by Sen Sundaram
In the news release announcing his departure as CEO of Terns Pharmaceuticals Inc., Sen Sundaram received praise, thanks and good wishes.
In announcing his departure, Sen Sundaram said 69 words.
“To focus on my health”
Sen Sundaram stated: “I am proud of the progress we have made at Terns in recent years and excited for the important data readouts in the coming year, knowing I leave the Company in strong hands with our excellent leadership team. This is the right time for me to retire from my corporate role to focus on my health and on the important work I am doing with the Peritoneal Cancer Foundation.”
Push-out Score for Sen Sundaram not determined
When the reason for the departure is health-related, a Push-out Score is not determined.
Read the full story in the exechange report 32.2023 ($).