- Signs for push-out forces
- After almost six years on the job
- Laud and praise for McDonough
- Search for a successor
(management-change.com) — Stockholm, Sweden, January 09, 2017 — Geoff McDonough, chief executive of Sobi, leaves. His departure is made public at an early stage. As announced by Swedish Orphan Biovitrum AB in a news release on Monday, January 09, 2017, Geoffrey (Geoff) McDonough, Chief Executive Officer, leaves the specialty healthcare company dedicated to rare diseases in a surprising move after almost six years on the job, effective July 01, 2017.
Sobi will undertake a search for a successor.
“Sobi needs more continuous presence in Stockholm than Geoffrey can sustain”
McDonough’s departure is explained as follows. Sobi said in a fairly blunt statement: “Given the increasing demand and focus of our business in Europe, the Board has decided that Sobi needs more continuous presence in Stockholm than Geoffrey can sustain given his current location in Boston.”
Sobi said: “Geoffrey McDonough will leave Sobi on 1 July 2017.”
Precise information about the future plans of McDonough was not immediately available.
“Geoffrey has currently not decided on future plans after his notice period,” said Morten Grøn, Vice President, Head of Communication and Engagement at Swedish Orphan Biovitrum AB in an emailed response to a management-change.com query.
Share price rise since November 2011
The change follows a rise in the share price of Swedish Orphan Biovitrum AB since November 2011.
Chaired by Håkan Björklund
Swedish Orphan Biovitrum AB is chaired by Håkan Björklund.
Björklund has been a Board member since 2016 and currently serves as Industry Executive at Avista Capital Partners.
On the job as CEO since 2011
McDonough has been the Chief Executive Officer and President of Swedish Orphan Biovitrum AB (Sobi) since August 15, 2011.
McDonough’s CV is as follows:
- Born 1970.
- Employed since 2011.
- M.D., Harvard Medical School, B.Sc. in Biology and B.A. in Philosophy from University of North Carolina.
- Other appointments: Board member of Zafgen and PTC Therapeutics.
- Previous positions: Various senior positions within Genzyme Corporation since 2002, most recently as President of Europe, Middle East and Africa 2010–2011. SVP and General Manager, Personalized Genetic Health 2008–2010, Global Business Leader, LSD Therapeutics, US 2005–2008. Before Genzyme he was internist and paediatrician in the US.
Read the full story in the management-change.com report 03.2017 ($).