KalVista CEO Andy Crockett leaves

  • After around seven years in the position
  • Praise and thanks for Crockett
  • Ben Palleiko taking over

(exechange) — Cambridge, Massachusetts & Salisbury, England, March 7, 2024 — Andy Crockett, chief executive of KalVista, leaves his position. As announced by KalVista Pharmaceuticals Inc. in a news release and in a regulatory filing published on Thursday, March 7, 2024, T.Andrew (Andy) Crockett has left his post as chief executive officer at the clinical stage pharmaceutical company, after around seven years in the role, effective March 6, 2024.

Generally speaking, it raises questions when a CEO leaves his post abruptly.

Andy Crockett’s duties as CEO will be taken over by Benjamin L. (Ben) Palleiko, most recently President, Chief Business Officer and Chief Financial Officer at KalVista Pharmaceuticals Inc.

“KalVista prepares to become a commercial entity”

The management change is explained as follows. KalVista stated: “This appointment is the result of a planned transition as KalVista prepares to become a commercial entity following the success of the KONFIDENT Phase 3 trial for its program sebetralstat as the first potential oral, on-demand therapy for hereditary angioedema (HAE), with a planned US NDA filing in the first half of this year.”

Precise information regarding Andy Crockett’s future plans was not immediately available.

“Resignation”

KalVista said: “Andrew Crockett has submitted his resignation as CEO and a director of the Company.”

KalVista further said: “On March 6, 2024, T. Andrew Crockett announced his resignation from his position as the Chief Executive Officer and from his position on the Board, effective immediately.”

“Not the result of any disagreement”

KalVista stated, regarding the change: “Mr. Crockett’s resignation is not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.”

Share price decline since March 2021

The announcement follows a decline in KalVista Pharmaceuticals Inc.’s share price of 57% since March 2021.

In the position of CEO since 2016

Andy Crockett became CEO of the Company in 2016.

T.Andrew Crockett, M.B.A., has served as a member of the Company’s Board and as the Company’s Chief Executive Officer since November 2016 and as a director and Chief Executive Officer of the Company’s wholly owned subsidiary, KalVista Pharmaceuticals Limited, since its inception in 2011.

From 2010 until November 2015, Crockett was the chief executive officer of Vantia Ltd.

He served on the board of directors of Vantia Ltd. from 2010 to 2021.

Crockett also held various senior management positions including Vice President of Business Development and Director of Clinical and Regulatory Affairs in biotech and specialty pharmaceutical companies in the United States and United Kingdom.

Crockett received a B.A. from the University of Utah and an M.B.A. from The Wharton School, University of Pennsylvania, with a major in finance.

No statement by Andy Crockett

In the release announcing his departure as CEO of KalVista Pharmaceuticals Inc., Andy Crockett received praise and thanks.

The announcement of his departure as CEO does not include a statement by Andy Crockett.

The above text is an excerpt from the exechange report 11.2024 ($), publication date March 11, 2024.