- After about three years in the position
- Praise for Peisert
- Heather Mason taking over temporarily
- Search for a successor
(exechange) — Lake Forest, Illinois, January 3, 2024 — Dan Peisert, chief executive of Assertio, leaves his position. As announced by Assertio Holdings Inc. in a news release on Wednesday, January 3, 2024, Daniel A. (Dan) Peisert leaves his post as chief executive officer at the specialty pharmaceutical company, after about three years in the role.
The exact date of Dan Peisert’s departure from his post was not explicitly given in the announcement.
Assertio will undertake a search for a successor.
Dan Peisert’s duties as CEO will be taken over temporarily by Heather L. Mason, a former Executive Vice President, Nutrition at Abbott Laboratories, as interim Chief Executive Officer.
Already a director
Mason has already been a member of the board of directors of Assertio. Directors-turned-executives represent a blend of outsider and insider.
They don’t have the constraints of a pure insider when it comes to leading painful changes or making unpopular decisions, and they have more company knowledge than a pure outsider.
Having been a director, Mason understands the expectations and dynamics of the board and has knowledge of Assertio’s organization, risk-management practices and strategy.
Assertio Holdings, Inc. still listed Peisert as President, Chief Executive Officer & Director on the leadership page of its website shortly after the leadership-change announcement was published.
“Maximize the opportunities in front of us”
Assertio did not give an explicit reason for Dan Peisert’s planned departure from the CEO post. Mason stated: “I will work to ensure that we are best positioned to maximize the opportunities in front of us, and to ensure a smooth leadership transition as we bring in a CEO to lead the Company into the next phase of our business.”
Precise information regarding Dan Peisert’s future plans was not immediately available.
“Stepping down”
Assertio said: “Dan Peisert is stepping down as the Company’s Chief Executive Officer.”
Share price decline since January 2023
The announcement follows a decline in Assertio Holdings Inc.’s share price of 73% since January 2023.
In the position of CEO since 2020
Dan Peisert became CEO of the Company in 2020.
Daniel A. Peisert has served as a director and President and Chief Executive Officer of the Company since December 14, 2020.
Peisert previously served as the Company’s Executive Vice President and Chief Financial Officer from June 2020 to December 2020, its Senior Vice President and Chief Financial Officer from December 2018 to June 2020, its Senior Vice President, Business Development from August 2018 to November 2018 and its Vice President, Business Development from September 2017 to August 2018.
Prior to joining the Company, from October 2016 to September 2017, Peisert served as Vice President, US Legacy Pharmaceuticals for Concordia International Corp., an international specialty pharmaceutical company.
Prior to this, from March 2014 to October 2016, he was Vice President, Business Development for Concordia.
From February 2012 to February 2014, Peisert served as a Research Analyst for Cupps Capital and from 2012 to 2013 he served as a member of the board of directors and secretary of SureGene LLC.
From 2008 to 2012, Peisert was Director of Finance and Business Development for Marathon Pharmaceuticals, LLC a privately-held specialty pharmaceutical company.
Prior to entering the pharmaceutical industry, he was a healthcare equity analyst and portfolio manager for Magnetar Capital and UBS O’Connor and began his career as an auditor for PricewaterhouseCoopers.
Peisert holds a B.S. in Business with an emphasis on Accounting from the University of Minnesota.
No statement by Dan Peisert
In the release announcing his departure as CEO of Assertio Holdings Inc., Dan Peisert received praise.
The announcement of his departure as CEO does not include a statement by Dan Peisert.
Push-out Score for Dan Peisert’s move determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Dan Peisert’s move on a scale of 0 to 10.
Read the full story in the exechange report 2.2024 ($).