- After 15 years in the position
- Thanks and good wishes for Bryant
- Michael Iskra taking over temporarily
- Search for a successor
(exechange) — San Diego, California, February 21, 2024 — Doug Bryant, chief executive of QuidelOrtho, leaves his position. As announced by QuidelOrtho Corp. in a news release and in a regulatory filing published on Wednesday, February 21, 2024, Douglas C. (Doug) Bryant leaves his post as chief executive officer at the manufacturer of diagnostic healthcare products, after 15 years in the role, effective immediately.
It is the end of an era.
Generally speaking, it raises questions when a CEO leaves his post abruptly.
QuidelOrtho will undertake a search for a successor.
Doug Bryant’s duties as CEO will be taken over temporarily by Michael S. Iskra, most recently Chief Commercial Officer at QuidelOrtho Corp., as Interim Chief Executive Officer.
“Enhance operational efficiency”
The management change is explained as follows. QuidelOrtho stated: “The Board of Directors (the “Board”) of QuidelOrtho Corporation (Nasdaq: QDEL) (the “Company” or “QuidelOrtho”) has made significant decisions aimed to enhance operational efficiency, drive revenue growth and deliver shareholder value.”
Precise information regarding Doug Bryant’s future plans was not immediately available.
“Terminated”
QuidelOrtho said: “After a comprehensive evaluation, the Board has terminated Douglas Bryant, President and Chief Executive Officer of QuidelOrtho. Mr. Bryant has also resigned from the Board, both effective February 21, 2024.”
QuidelOrtho further said: “On February 14, 2024, the Board of Directors (the “Board”) of QuidelOrtho Corporation (the “Company”) determined to terminate Douglas C. Bryant, the Company’s President and Chief Executive Officer, effective February 21, 2024. On February 17, 2024, Mr. Bryant informed the Board of his intent to resign from the Board, effective February 21, 2024.”
“Not the result of any dispute or disagreement”
QuidelOrtho stated, regarding the change: “Mr. Bryant’s termination and his decision to resign from the Board were not the result of any dispute or disagreement with the Company, the Board or management on any matter relating to the Company’s operations, policies or practices.”
Share price decline since February 2021
The announcement follows a decline in QuidelOrtho Corp.’s share price of 82% since February 2021.
In the position of CEO since 2009
Doug Bryant became CEO of the Company in 2009.
Bryant has served as the Company’s Chief Executive Officer (“CEO”) since March 2009 and as the Company’s President since December 2022 and from March 2009 to May 2022.
He previously served as the Chair of the Company’s Board from May 2022 to December 2022.
Prior to joining the Company, Bryant served as Executive Vice President and Chief Operating Officer at Luminex Corporation, managing its Bioscience Group, Luminex Molecular Diagnostics (Toronto), manufacturing, R&D, technical operations and commercial operations.
From 1983 to 2007, Bryant held various worldwide commercial operations positions with Abbott Laboratories including, among others: Vice President of Abbott Vascular for Asia/Japan, Vice President of Abbott Molecular Global Commercial Operations and Vice President of Abbott Diagnostics Global Commercial Operations.
Earlier in his career with Abbott, Bryant was Vice President of Diagnostic Operations in Europe, the Middle East and Africa and Vice President of Diagnostic Operations Asia Pacific.
Bryant holds a B.A. in Economics from the University of California at Davis.
No statement by Doug Bryant
In the release announcing his departure as CEO of QuidelOrtho Corp., Doug Bryant received thanks and good wishes.
The announcement of his departure as CEO does not include a statement by Doug Bryant.
The above text is an excerpt from the exechange report 9.2024 ($), publication date February 26, 2024.