- Push-out Score determined
- After almost 13 years in the position
- Thanks and good wishes for Henwood
- David Enloe taking over
- Henwood will remain as Chief Executive Officer at Baudax Bio
- Henwood said 77 words
(exechange) — Malvern, Pennsylvania, December 21, 2020 — Gerri Henwood, chief executive of Recro, leaves her position. As announced by Recro Pharma Inc. in a news release published on Wednesday, December 16, 2020 and in a regulatory filing published on Monday, December 21, 2020, Gerri Henwood has left her post as chief executive officer of the specialty pharmaceutical company after almost 13 years in the role, effective December 15, 2020.
Gerri Henwood’s duties as CEO will be taken over by J.David Enloe, most recently Chief Executive Officer of Ajinomoto Bio-Pharma Services.
The fact that Gerri Henwood’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
No reason given
In the announcement, Recro did not explicitly explain the reason for Gerri Henwood’s move, leaving room for speculation.
Henwood will remain as CEO at Baudax Bio
Gerri Henwood will remain as CEO at Baudax Bio. Henwood serves as President and Chief Executive Officer of Baudax Bio since 2019. Both Recro and its spinout, Baudax Bio, are based in Malvern.
Baudax Bio is a pharmaceutical company.
“Resigned”
Recro said: “David Enloe has been named President, Chief Executive Officer and a member of the Company’s Board of Directors, replacing Gerri Henwood, effective today.”
Recro further said: “In connection with Mr. Enloe’s appointment as President and Chief Executive Officer, Ms. Henwood resigned, effective December 15, 2020, from her position as the Company’s President and Chief Executive Officer.”
Share price decline since December 2019
The announcement follows a decline in Recro Pharma Inc.’s share price of 82% since December 2019.
Chaired by Wayne B. Weisman
Wayne B. Weisman serves as Recro Pharma Inc.’s Chairman.
Wayne B. Weisman has been a director of the Company and the chairman of the Company’s Board since 2008.
In the position of CEO since 2008
Gerri Henwood became CEO of the Company in 2008.
Gerri Henwood has served as the Company’s President and Chief Executive Officer and a member of the Company’s Board since the Company’s inception in 2008.
Henwood also serves as Chief Executive Officer and a director of Baudax.
From 2006 to 2013, Henwood served as the President of Malvern Consulting Group, or MCG, a pharmaceutical incubator and consulting firm.
From 1999 to 2006, Henwood was the President and Chief Executive Officer of Auxilium Pharmaceuticals, Inc., a biopharmaceutical company she founded in late 1999.
From 1985 to 1999, Henwood was the founder and Chief Executive Officer of IBAH, Inc., a contract research organization.
Henwood began her career with Smith Kline & French, now part of GlaxoSmithKline plc.
She rose through the ranks to be a Brand Manager, then the head of Regulatory and Medical Affairs for the U.S. business and then to the position of Group Director—Marketing in the International Pharmaceutical Division.
Henwood currently serves on the board of directors of Tetraphase Pharmaceuticals, Inc., a commercial stage biopharmaceutical company, a position she has held since May 2015, and she previously served on the board of directors of Alkermes, Inc. and its successor company, Alkermes, plc, a global biopharmaceutical company, from 2003 until March 2015, and on the board of directors of MAP Pharmaceuticals, Inc., a biopharmaceuticals company, from 2004 until its acquisition by Allergan, Inc. in March 2013.
Henwood also serves on the compensation committee of the board of directors of Tetraphase Pharmaceuticals, Inc.
Henwood holds a B.S. in Biology from Neumann University.
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 Recro and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 52.2020 ($).