Axovant Sciences CEO Vivek Ramaswamy hands over to David Hung

  • After about two years on the job
  • Laud for Ramaswamy
  • Ramaswamy will remain as full-time Chief Executive Officer at Roivant Sciences
  • Ramaswamy spoke at length and said 94 words

(exechange) — Basel, Switzerland, April 10, 2017 — Vivek Ramaswamy, chief executive of Axovant Sciences, hands over the reins. It is an abrupt change. As announced by Axovant Sciences Ltd. in a news release on Monday, April 10, 2017, Vivek Ramaswamy has already left the post as Chief Executive Officer at the biopharmaceutical company focused on the treatment of dementia in a surprising move after about two years on the job, effective April 07, 2017.

Ramaswamy’s duties are taken over by David T. Hung, most recently Chief Executive Officer at Medivation.

The move is a reverse generational change. David T. Hung is about 27 years older than Vivek Ramaswamy.

The fact that Ramaswamy’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.

The move is part of a management shake-up also involving the position of Chief Operating Officer.

“We were not searching for a new CEO at Axovant, but following the acquisition of Medivation I approached David”

The sudden management change is explained as follows. Ramaswamy said: “We were not searching for a new CEO at Axovant, but following the acquisition of Medivation I approached David about taking a role with us after the MINDSET study. David decided that he wanted to join us now.”

Ramaswamy will remain as full-time Chief Executive Officer at Roivant Sciences

“Mr. Ramaswamy will continue to serve on Axovant’s Board of Directors and will lead parent company and majority owner Roivant Sciences as its full-time Chief Executive Officer,” Axovant Sciences said.

“Succeeds”

Axovant Sciences said: “Dr. Hung, who also joined Axovant’s Board of Directors, succeeds founding Chief Executive Officer Vivek Ramaswamy.”

On the job as CEO since 2015

Ramaswamy has been the Chief Executive Officer of Axovant Sciences Ltd. since March 2015.

Ramaswamy is the founder and Chief Executive Officer of Axovant Sciences, Inc. and Chief Executive Officer of Roivant Sciences, Inc.

Prior to founding Roivant, Ramaswamy was an investor in the biotechnology sector.

In 2007, he co-founded and served as President of Campus Venture Network, a technology company that was acquired in 2009.

He currently serves as Chairman of the Board of Directors of Arbutus Biopharma Corporation and a member of the Board of Directors of Axovant Sciences Ltd. and Roivant Sciences Ltd.

He received an AB summa cum laude in biology from Harvard College and a JD from Yale Law School.

Read the full story in the exechange report 16.2017 ($).