- Push-out Score suggests push-out forces
- After almost four years on the job
- Accolades, praise and thanks for Ward
- Jesper Høiland taking over
(exechange) — Waltham, Massachusetts, July 17, 2017 — Bob Ward, chief executive of Radius, leaves. As announced by Radius Health, Inc. in a news release on Monday, July 17, 2017, Robert E. (Bob) Ward leaves the post as Chief Executive Officer at the biopharmaceutical company in a surprising move after almost four years on the job.
The exact date of Ward’s departure was not given in the announcement. Obviously, it was an abrupt change.
Ward’s duties are taken over by Jesper Høiland, most recently President USA at Novo Nordisk Inc.
The fact that Ward’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
In general, an outsider does not have the constraints of an insider when it comes to leading painful changes or making unpopular decisions.
Radius has already removed the name of Ward from the leadership page and lists Høiland as President and Chief Executive Officer.
No reason given
In the announcement, Radius did not explicitly explain the reason for Ward’s move, leaving room for speculation.
Precise information about the future plans of Ward was not immediately available.
Share price decline
The change follows a decline in the share price of Radius Health, Inc. since July 2015.
Chaired by Kurt C. Graves
Radius Health, Inc. is chaired by Kurt C. Graves.
Kurt C. Graves has served on the Company’s Board since May 2011 and as Chairman of the Board since November 2011.
On the job as CEO since 2013
Robert E. Ward has been the Chief Executive Officer and President at Radius Health, Inc., since December 16, 2013.
Prior to joining Radius, Ward was Vice President for Strategy and External Alliances for the New Opportunities iMed of AstraZeneca, a biopharmaceutical company, from 2011 to 2013.
In addition, he served as Co-Chair of the Joint Development Committees in AstraZeneca’s drug development partnerships with Alcon and Galderma.
Prior to AstraZeneca, from 2010 to 2011, Ward was the Managing Director of Harriman Biopartners, LLC, a biopharmaceutical company, and from 2006 to 2010 he was the Vice President of Corporate Development for NPS Pharmaceuticals, a pharmaceutical company.
Ward serves as a director of Akari Therapeutics, PLC and the Massachusetts High Technology Council. Ward received a B.A. in Biology and a B.S. in Physiological Psychology, both from the University of California, Santa Barbara; an M.S. in Management from the New Jersey Institute of Technology; and an M.A. in Immunology from The Johns Hopkins University School of Medicine.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Bob Ward’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 30.2017 ($).