- After almost 19 years in the position
- Accolades, praise and thanks for Bienaimé
- Alexander Hardy taking over
- Bienaimé said 71 words
(exechange) — San Rafael, California, November 1, 2023 — JJ Bienaimé, chief executive of BioMarin, leaves his position. As announced by BioMarin Pharmaceutical Inc. in a news release on Wednesday, November 1, 2023, Jean-Jacques (JJ) Bienaimé leaves his post as chief executive officer at the biotechnology company, after almost 19 years in the role, effective December 1, 2023.
It is the end of an era.
Generally speaking, it raises questions when a CEO leaves his post at short notice.
JJ Bienaimé’s duties as CEO will be taken over by Alexander Hardy, currently chief executive officer at Genentech.
The fact that JJ Bienaimé’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
“Multi-year succession planning process”
The management change is explained as follows. Richard A. Meier, BioMarin’s lead independent director, who will assume the role of chair of the board of directors, stated: “The Board engaged in a multi-year succession planning process and a comprehensive search, seeking a leader who could build on the company’s success. We focused on candidates with experience driving commercial growth and operational excellence, as well as a strong understanding of science and product development. Based on these criteria, the Board identified Alexander as the right leader to bring BioMarin into the future, advancing care for patients with serious genetic conditions and driving industry-leading growth.”
Precise information regarding JJ Bienaimé’s future plans was not immediately available.
BioMarin said: “Alexander Hardy has been named president and chief executive officer, succeeding Jean-Jacques Bienaimé, who will retire as chairman and CEO effective December 1, 2023.”
Share price decline since November 2018
The announcement follows a decline in BioMarin Pharmaceutical Inc.’s share price of 16% since November 2018.
In the position of CEO since 2005
JJ Bienaimé became CEO of the Company in 2005.
Bienaimé will remain a member of BioMarin’s board of directors until the company’s 2024 Annual Meeting of Stockholders, and he will serve as an advisor to the company through the end of 2024.
Jean-Jacques Bienaimé joined the Company’s Board in May 2005, at the same time that he became the Company’s CEO, and was named Chair of the Board in June 2015.
Bienaimé served as Chairman, CEO, and President of Genencor, a biotechnology company focused on industrial bioproducts and targeted cancer biotherapeutics, from November 2002 to April 2005.
Prior to Genencor, Bienaimé served as Chairman, CEO and President of Sangstat Medical Corporation, an immunology-focused biotechnology company, from 1998 to late 2002, becoming President in 1998 and CEO in 1999.
Bienaimé also held several senior management positions at Rhône-Poulenc Rorer Pharmaceuticals (now Sanofi-Aventis) from 1992 to 1998, culminating in the position of Senior Vice President of Worldwide Marketing and Business Development.
Earlier in his career, Bienaimé worked at Genentech, Inc. where he was involved in the launch of tissue plasminogen activator (t-PA) for the treatment of heart attacks.
Bienaimé currently serves on the board of Incyte Corporation, a public biotechnology company, and he is a member of the boards of Biotechnology Innovation Organization (BIO) and Pharmaceutical Research and Manufacturers of America (PhRMA), both industry trade associations.
Bienaimé served on the board of Vital Therapies, Inc., a public biopharmaceutical company, from 2013 to 2018, until it was merged into Immunic, Inc. in April 2019.
Bienaimé received an M.B.A. from the Wharton School at the University of Pennsylvania and a degree in economics from the École Supérieure de Commerce de Paris.
71 words by JJ Bienaimé
In the release announcing his departure as CEO of BioMarin Pharmaceutical Inc., JJ Bienaimé received accolades, praise and thanks.
In announcing his departure, JJ Bienaimé said 71 words.
“Prioritizing operational efficiency”
JJ Bienaimé stated: “It has been a privilege leading BioMarin’s exceptionally talented team over the past 18 years, as we’ve worked together to deliver medicines that have transformed care for people with genetic diseases, building BioMarin into the successful company it is today. Alexander brings an impressive track record of successfully commercializing new products for patients and prioritizing operational efficiency. I look forward to working with Alexander as he takes on this new role.”
Push-out Score for JJ Bienaimé’s move determined
The Push-out Score indicates on a scale of 0 to 10 how likely it is that JJ Bienaimé was pushed out or felt pressure to leave his position.
exechange reached out to BioMarin and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 45.2023 ($).