- Push-out Score determined
- After about two years in the position
- Accolades, praise and thanks for Shlevin
- Joel Lewis taking over
- Shlevin spoke at length and said 169 words
(exechange) — Norcross, Georgia, September 2, 2020 — Harold Shlevin, chief executive of Galectin, leaves. As announced by Galectin Therapeutics Inc. in a news release and in a regulatory filing published on Wednesday, September 2, 2020, Harold H. Shlevin leaves his post as chief executive officer at the developer of therapeutics that target galectin proteins after about two years in the role, effective immediately.
Harold Shlevin’s duties as CEO will be taken over by Joel Lewis, most recently Managing Director of Shareholder Services of Uline, Inc.
It is a generational change as well. Joel Lewis is about 20 years younger than Harold Shlevin.
Already a director
Lewis is already a director of Galectin.
Having been a director, Lewis understands the expectations and dynamics of the board and has knowledge of Galectin’s organization, risk-management practices and strategy.
“Joel possesses the skills needed”
Galectin did not give an explicit reason for Harold Shlevin’s departure from the CEO post. Richard E. Uihlein, Chairman of Galectin Therapeutics, said: “I have every confidence that Joel possesses the skills needed and to successfully lead our team’s efforts to advance our drug candidate, belapectin, through the NASH-RX trial and more.”
Precise information regarding Harold Shlevin’s future plans was not immediately available.
“Retiring”
Galectin said: “Dr. Harold Shlevin, who is retiring from the CEO position, has signed a consulting agreement through which he has agreed to devote significant effort to advancing the NASH-RX trial.”
Share price decline
The announcement follows a decline in Galectin Therapeutics Inc.’s share price of 28% since September 2019.
Chaired by Richard E. Uihlein
Richard E. Uihlein serves as Galectin Therapeutics Inc.’s Chairman.
Richard E. Uihlein co-founded Uline, Inc. (a leading distributor of shipping, packaging and industrial supplies) in 1980, and has served as its Chief Executive Officer and Chairman since its founding.
In the position of CEO since 2018
Harold Shlevin became CEO of the Company in 2018.
Shlevin and Lewis will retain their positions on Galectin’s Board of Directors.
Harold Shlevin, Ph.D., became the Company’s President and Chief Executive Officer on June 14, 2018 after previously serving as the Company’s Chief Operating Officer and Secretary from October 1, 2012.
Shlevin previously had been employed at the Georgia Institute of Technology’s Advanced Technology Development Center as Principle and Manager of bioscience commercialization efforts since November 2009, where he has assisted faculty in identifying technology worthy of commercialization, catalyzed formation of new start-up bioscience companies, and mentored new company management.
From October 2008 to November 2009, he served as Head of Operations and Commercial Development for Altea Therapeutics Corporation, an advanced drug delivery company focused on the delivery of therapeutic levels of water-soluble biotherapeutics and small drugs through the skin.
At Altea, he was responsible for pharmaceutical research and development, clinical research, regulatory affairs, engineering, clinical and commercial manufacturing, quality assurance, information technology, facility operations and finance.
From July 2006 to September 2008, Shlevin served as the President and Chief Executive Officer of Tikvah Therapeutics, Inc., a start-up pharmaceutical enterprise focused on later-stage development of neuroscience therapeutics.
From May 2000 to January 2006, he served as President and CEO of Solvay Pharmaceuticals, Inc. (US). In January 2006, he was promoted to a global senior Vice President role within Solvay Pharmaceuticals, SA and member of the Board of Solvay Pharmaceuticals, SA.
Previously, Shlevin served on the Board of Directors of Cardiome Pharma Corporation (NASDAQ: CRME), now known as Correvio Pharma Corp. (NASDAQ: CORV) from 2004 to June 2016.
He was Chair of the Compensation Committee and member of the Corporate Governance Committee and Audit Committees.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Galectin and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 36.2020 ($).