- Signs for push-out forces
- After around ten years on the job
- Laud, praise and thanks for Coughlin
- Search for a successor
(management-change.com) — San Diego, California, December 21, 2016 — Tim Coughlin, finance chief of Neurocrine, leaves. It is a change at short notice. As announced by Neurocrine Biosciences, Inc. in a news release on Wednesday, December 21, 2016, Timothy P. (Tim) Coughlin leaves the post as Chief Financial Officer at the biotechnology company in a surprising move after around ten years on the job, effective in mid-February.
It is the end of an era.
Neurocrine will undertake a search for a successor.
Coughlin’s move is explained as follows. Neurocrine said: Coughlin “will be stepping down from his position as Chief Financial Officer in mid-February for personal reasons”.
In the announcement, the company did not detail the personal reasons causing Coughlin to leave the position, leaving room for speculation. Generally speaking, “personal reasons” may include, among others, family-related reasons or health reasons.
Precise information about the future plans of Coughlin was not immediately available.
Share price decline
The change follows a decline in the share price of Neurocrine Biosciences, Inc. since November 14, 2016.
Chaired by William H. Rastetter
Neurocrine Biosciences, Inc. is chaired by William H. Rastetter.
Rastetter has served on the Board of Directors since February 2010 and as Chairman of the Board of Directors since May 2011.
Kevin C. Gorman serves as CEO of Neurocrine Biosciences, Inc. Gorman has been the Chief Executive Officer and President of Neurocrine Biosciences Inc., since January 2008.
On the job as CFO since 2006
Tim Coughlin was appointed Chief Financial Officer in September 2006 after having served as Vice President, Controller of Neurocrine Biosciences since 2002.
He is responsible for Accounting/Finance, Information Technology, and Investor Relations.
Prior to joining Neurocrine, Coughlin had experience in corporate accounting, finance and operations management of companies ranging in size from start-ups through Fortune 500.
Prior to Neurocrine, he was with CHI, a nationwide integrated healthcare delivery system where he served as Vice President, Financial Services.
Coughlin also served as a Senior Manager with Ernst & Young and its predecessors in their Health Science practice from 1989 – 1999.
He currently serves as a member of the Board of Directors for Fate Therapeutics, a publicly traded company focused on stem cell research.
Coughlin holds a Bachelors in Accounting from Temple University and Masters in International Business from San Diego State University and is also a certified public accountant in both California and Pennsylvania.
Signs for push-out forces
It is not completely certain what forces eventually triggered Tim Coughlin’s move.
The Push-out Score™ determined by management-change.com suggests that push-out forces may have contributed to the management change.
Read the full story in the management-change.com report 48.2016 ($).