- Push-out Score suggests push-out forces
- After less than four years in the position
- Praise and thanks for Dilly
- Search for a successor
- Dilly spoke at length and said 190 words
(exechange) — Brisbane, California, November 06, 2017 — Stephen Dilly, chief executive of Aimmune, leaves. As announced by Aimmune Therapeutics, Inc. in a news release and in a regulatory filing published on Monday, November 06, 2017, Stephen Dilly leaves the post as Chief Executive Officer at the biopharmaceutical company after less than four years in the position, effective by the end of 2018.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past twelve months was 8.8 years, according to data compiled by exechange.
Aimmune will undertake a search for a successor.
“His desire to have more time for his family, especially his eldest son, who has special needs”
Dilly’s departure from the post of CEO is explained as follows. Aimmune said: “Dr. Dilly’s decision to retire is based solely on his desire to have more time for his family, especially his eldest son, who has special needs.”
Commercial launch of Aimmune’s lead investigational product
“Aimmune will initiate a search for a successor CEO to lead the Company as it builds towards the potential commercial launch of its lead investigational product, AR101, which is currently in Phase 3 development for the treatment of peanut allergy,” Aimmune said.
Aimmune said: “On November 3, 2017, Stephen Dilly … notified the Board of Directors … of the Company of his intention to retire as Aimmune’s President and Chief Executive Officer by the end of 2018.”
Share price rise since August 2017
The change follows a rise in the share price of Aimmune Therapeutics, Inc. since August 2017.
Chaired by Mark McDade
Aimmune Therapeutics, Inc. is chaired by Mark McDade.
Mark McDade is Chairman of the Aimmune Board of Directors and a founding partner with Qiming’s new U.S. Healthcare Fund, just raised in January 2017.
In the position of CEO since 2014
Stephen G. Dilly has served as the Company’s Chief Executive Officer since April 2014 and as a member of the Company’s Board since April 2013.
Dilly was Chief Executive Officer of PhotoThera, Inc., a medical device company, from January 2012 to December 2012.
Since 2010, Dilly has served as an independent director of Sangamo Biosciences, Inc., a biopharmaceutical company, where he also currently serves as chair of the clinical review committee.
From 2006 to 2011, Dilly served as President and Chief Executive Officer and a member of the board of directors of APT Pharmaceuticals, Inc., a drug development company.
From 2007 to 2009, he was a member of the board of directors of Avigen, Inc., a biopharmaceutical company, which merged with MediciNova, Inc. in December 2009.
From 2003 to 2006, he served as Chief Medical Officer and Senior Vice President of Development of Chiron BioPharma, a biotechnology company which was later acquired by Novartis International AG.
From 1998 to 2003, Dilly held various management positions at Genentech, Inc. (“Genentech”), a biotechnology company, including Vice President of Development Sciences from 2002 to 2003 and Vice President of Medical Affairs from 1998 to 2001.
From 1988 to 1998, Dilly held various management positions in drug development with SmithKline Beecham, PLC, a healthcare company in the U.K.
During his career, Dilly has been closely associated with the development and launch of marketed drugs for many therapeutic areas, including Kytril, Paxil, Kredex, Requip, TNKase, Xolair, Avastin, Raptiva, Tarceva, Lucentis and Cubicin.
Dilly received an M.B.B.S., the equivalent of an M.D., from the University of London in the U.K. and a Ph.D. in cardiac physiology from University of London.
Dilly will continue as Aimmune’s CEO until his replacement joins the company and will be available through a transition period.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Stephen Dilly’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 46.2017 ($).