- After about four and a half years in the position
- Praise and thanks for Brumm
- John Cox taking over
- Brumm said 70 words
(exechange) — Waltham, Massachusetts, March 25, 2024 — Josh Brumm, chief executive of Dyne, leaves his position. As announced by Dyne Therapeutics Inc. in a news release and in a regulatory filing published on Monday, March 25, 2024, Joshua (Josh) Brumm leaves his post as chief executive officer at the clinical-stage muscle disease company, after about four and a half years in the role, effective immediately.
Generally speaking, it raises questions when a CEO leaves his post abruptly.
Josh Brumm’s duties as CEO will be taken over by John Cox, previously Chief Executive Officer at Repertoire Immune Medicines, Inc.
The fact that Josh Brumm’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
“The right time”
The management change is explained as follows. Brumm stated: “This is the right time to hand the reins to John to work with the incredible Dyne team to prepare for the company’s exciting next phase and continued pursuit of its mission of delivering life-transforming therapies for patients.”
Precise information regarding Josh Brumm’s future plans was not immediately available.
“Step down/resign”
Dyne said: “Dyne Therapeutics, Inc. …, a clinical-stage muscle disease company focused on advancing innovative life-transforming therapeutics for people living with genetically driven diseases, today announced the appointment of John Cox as president, chief executive officer … and a member of the Board of Directors, effective immediately. He succeeds Joshua Brumm, who has chosen to step down from these roles to pursue a career in healthcare investing.”
Dyne further said: “On March 21, 2024, the Company and Mr. Brumm agreed that, in connection with the hiring of Mr. Cox, Mr. Brumm’s employment with the Company would end on the Effective Date [March 25, 2024], Mr. Brumm would resign as President and Chief Executive Officer and from the Board as of the Effective Date and Mr. Brumm would serve as a consultant to the Company.”
Share price increase since March 2023
The announcement follows an increase in Dyne Therapeutics Inc.’s share price of 107% since March 2023.
In the position of CEO since 2019
Josh Brumm became CEO of the Company in 2019.
Brumm will serve as an advisor to Dyne to help ensure a seamless transition.
Joshua Brumm has served as the Company’s Chief Executive Officer and President and as a director since October 2019.
Prior to joining the Company, Brumm served as Chief Operating Officer and Chief Financial Officer at Kaleido Biosciences, Inc., a healthcare company, from April 2018 to October 2019.
Prior to joining Kaleido, Brumm served as Chief Operating Officer and Chief Financial Officer at Versartis, Inc., a biopharmaceutical company, from November 2013 until December 2017.
Brumm served as Executive Vice President of Finance at Pharmacyclics, LLC, a biopharmaceutical company, from August 2012 to August 2013.
Prior to joining Pharmacyclics, Brumm served in various roles at ZELTIQ Aesthetics, Inc., a medical technology company, from December 2009 to August 2012, including as Senior Vice President and Chief Financial Officer, Vice President of Corporate Development and Investor Relations, Senior Managing Director of International Sales and Director of Corporate Development and Strategy.
Prior to his service at ZELTIQ Aesthetics, Brumm served as Director of Finance at Proteolix, Inc. and held investment banking roles at Citigroup Global Markets, Inc. and Morgan Stanley.
Brumm also serves as Chairman of the Board of Amphista Therapeutics Limited, a company focused on advancing targeted protein degradation therapeutics.
Brumm holds a B.A. in business administration from the University of Notre Dame.
70 words by Josh Brumm
In the release announcing his departure as CEO of Dyne Therapeutics Inc., Josh Brumm received praise and thanks.
In announcing his departure, Josh Brumm said 70 words.
“Exciting next phase”
Josh Brumm stated: “It’s been a great privilege to lead Dyne since 2019. I want to thank the Board and all Dynamos for their support, and I’m proud of all that we have accomplished together. This is the right time to hand the reins to John to work with the incredible Dyne team to prepare for the company’s exciting next phase and continued pursuit of its mission of delivering life-transforming therapies for patients.”
The above text is an excerpt from the exechange report 14.2024 ($), publication date April 1, 2024.