- Signs for push-out forces
- After around three years on the job
- Laud, praise, thanks and good wishes for Daws
- Search for a successor
- Daws said 49 words
(exechange) — Lexington, Massachusetts, May 30, 2017 — This news came the day after Memorial Day. Ryan Daws, finance chief of Concert, leaves. It is a change at short notice. As announced by Concert Pharmaceuticals, Inc. in a news release and in a regulatory filing published on Tuesday, May 30, 2017, Ryan Daws, Chief Financial Officer, leaves the clinical stage biopharmaceutical company in a surprising move after around three years on the job, effective in early June 2017.
Concert will undertake a search for a successor.
Daws will be Managing Director in the Life Sciences and Biotechnology Group at Baird
“He will be joining Baird as Managing Director in the firm’s Life Sciences and Biotechnology Group,” Concert said. Baird is an employee-owned financial services firm providing investment banking, capital markets, private equity, wealth management, and asset management services.
Concert said: “Ryan Daws, Chief Financial Officer, will be leaving the company in early June 2017 to return to investment banking.”
Share price decline
The change follows a decline in the share price of Concert Pharmaceuticals, Inc. since May 16, 2017.
BVF holds 10.49 percent stake
BVF Inc. reported a 10.49 percent stake in Concert Pharmaceuticals, Inc. as of March 30, 2017. BVF is a hedge fund.
Chaired by Richard H. Aldrich
Concert Pharmaceuticals, Inc. is chaired by Richard H. Aldrich.
CEO: Roger D. Tung
Roger D. Tung serves as CEO of Concert Pharmaceuticals, Inc. Roger D. Tung is the Company’s co-founder and has served as the Company’s President and Chief Executive Officer and as a member of the Company’s board of directors since April 2006.
On the job as CFO since 2014
David Ryan Daws has been the Chief Financial Officer of Concert Pharmaceuticals, Inc. since January 23, 2014 and its Principal Accounting Officer since September 15, 2016.
Prior to joining Concert, Daws served as an independent consultant from June 2013 to January 2014, including an engagement with Concert from September 2013 to January 2014.
Daws served as a Director in the Healthcare Investment Banking Group at Stifel, Nicolaus & Company, Inc., a financial services company, from September 2010 to June 2013.
From March 1999 to June 2010, he served in positions of increasing responsibility within the Healthcare Investment Banking Group of Cowen and Company, LLC, a financial services firm.
Daws holds a B.S. in Finance and Organizational Management from the University of South Carolina and an International M.B.A. from the University of South Carolina’s Moore School of Business.
Daws will continue to consult with the Company, including through the closing of the pending asset purchase agreement with Vertex Pharmaceuticals, Inc.
Signs for push-out forces
It is not completely certain what forces eventually triggered Ryan Daws’ sudden 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 23.2017 ($).