- Signs for push-out forces
- After less than one year on the job
- Praise and thanks for Anderson
- Search for a successor
- Anderson said 61 words
(exechange) — New Haven, Connecticut, May 23, 2017 — Dave Anderson, finance chief of Alexion, leaves. As announced by Alexion Pharmaceuticals, Inc. in a news release and in a regulatory filing published on Tuesday, May 23, 2017, David (Dave) Anderson leaves the post as Chief Financial Officer at the biopharmaceutical company in a surprising move after less than one year on the job, effective August 31, 2017.
No company wants a CFO to flame out in the first year.
Anderson’s move comes two months after Ludwig N. Hantson took over as CEO of Alexion Pharmaceuticals, Inc.
Alexion will undertake a search for a successor.
Anderson’s move is part of a management shake-up also involving the positions of Chief Commercial Officer, Head of Research & Development and Chief Human Resources Officer.
No reason given
In the announcement, Alexion did not explicitly explain the reason for Anderson’s move, leaving room for speculation.
Precise information about the future plans of Anderson was not immediately available.
Alexion said: “Dave Anderson, Chief Financial Officer, will resign his position at the end of August.”
Share price decline
The change follows a decline in the share price of Alexion Pharmaceuticals, Inc. since December 2015.
Chaired by David R. Brennan
Alexion Pharmaceuticals, Inc. is chaired by David R. Brennan.
David R. Brennan is Chairman of Alexion’s Board of Directors. He served as a Director of Alexion since July 2014 and as Interim Chief Executive Officer of Alexion from December 2016 to March 2017.
CEO: Ludwig N. Hantson
Ludwig N. Hantson serves as CEO of Alexion Pharmaceuticals, Inc. Hantson has been Chief Executive Officer at Alexion Pharmaceuticals, Inc. since March 27, 2017.
On the job as CFO since 2016
David John Anderson has been the Chief Financial Officer and Executive Vice President at Alexion Pharmaceuticals, Inc. since December 12, 2016.
Dave Anderson is Executive Vice President, Chief Financial Officer of Alexion, with responsibility for global financial management, treasury, internal audit, investor relations, information technology, engineering, and real estate & security activities.
Prior to joining Alexion, Anderson was Senior Vice President and Chief Financial Officer of Honeywell International, a position he held for eleven years.
Prior to joining Honeywell, Anderson was Senior Vice President and Chief Financial Officer of ITT Industries. Prior to ITT, Anderson was Senior Vice President and Chief Financial Officer of Newport News Shipbuilding.
Previously, he also held senior financial positions with RJR Nabisco and the Quaker Oats Company.
Anderson has consistently been recognized by Institutional Investor’s survey of investors and sell-side analysts as one of America’s top CFOs.
He was named top Big Cap CFO by Investor Relations magazine in 2012, 2013, and 2014.
Anderson holds an MBA from the University of Chicago’s Booth School of Business, and an undergraduate degree from Indiana University.
As a general rule, when a top leader announces to step aside with no successor available, it’s a signal that the change was unplanned and too early.
Signs for push-out forces
It is not completely certain what forces eventually triggered Dave Anderson’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.
Read the full story in the exechange report 22.2017 ($).