Steven Binder Joins MannKind as Chief Financial Officer

[sla55]

investors.mannkindcorp.com/releasedetail.cfm?ReleaseID=1033315
VALENCIA, Calif., July 17, 2017 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) (TASE:MNKD) today announced that Steven Binder has joined the company as its Chief Financial Officer with full responsibilities for leading MannKind's finance, accounting, and investor relations organization on a global basis, effective immediately. Mr. Binder will report directly to Michael Castagna, Pharm.D., Chief Executive Officer and will join the company's executive leadership team.

Mr. Binder joins MannKind with over 25 years of experience in the healthcare industry. He most recently spent four years at Stryker Corporation, a leading global medical technology company, where he served as Vice President and Chief Financial Officer for Stryker's International Group, based in Singapore. Prior to Stryker, Mr. Binder served in a series of senior leadership roles at Bristol-Myers Squibb Company, an innovative global biopharmaceutical company. His last four positions at BMS were Vice President, Finance roles over different geographic operating units: United States (2012-2013), Europe (2008-2011), AsiaPacific (2005-2007), and Japan (2003-2005). Prior to his international experience, Mr. Binder served in three senior leadership roles for Oncology Therapeutics Network, a U.S. based independent subsidiary of BMS: Vice President, Strategic Development (2001-2003), Vice President, Customer Operations (2000-2001), and Chief Financial Officer (1997-2000). Before OTN, Mr. Binder progressed through three finance and accounting roles for BMS Worldwide Medicines Group after joining the company in 1992. Before BMS, he worked for Deloitte & Touche in a series of auditing roles with increasing responsibility over an eight year period beginning in 1984. Mr. Binder received a B.S. degree in Accounting and Business Administration from Muhlenberg College and is a Certified Public Accountant.

"We are very excited to have Steve join MannKind and our executive leadership team. His deep experience in finance and his commercial acumen acquired through a variety of senior leadership roles in multi-national healthcare companies will be a clear competitive advantage for us," said Dr. Castagna, Chief Executive Officer of MannKind. "Steve joins MannKind at an exciting period as we develop into a world class biopharmaceutical company." Dr. Castagna continued, "I would like to thank Rose Alinaya for her leadership as Acting Chief Financial Officer prior to Steve's hiring. Rose will now transition to leading investor relations for MannKind, a very important capability for us moving forward, reporting directly to Steve."

Mr. Binder commented, "MannKind is well-positioned for future growth and I could not be more excited about being a part of this team. I believe Afrezza is an innovative product with great potential to improve the quality of life for diabetic patients."

[kbrion77]

Jul 17, 2017 8:02:41 GMT -5 sla55 said:

investors.mannkindcorp.com/releasedetail.cfm?ReleaseID=1033315
VALENCIA, Calif., July 17, 2017 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) (TASE:MNKD) today announced that Steven Binder has joined the company as its Chief Financial Officer with full responsibilities for leading MannKind's finance, accounting, and investor relations organization on a global basis, effective immediately. Mr. Binder will report directly to Michael Castagna, Pharm.D., Chief Executive Officer and will join the company's executive leadership team.

Mr. Binder joins MannKind with over 25 years of experience in the healthcare industry. He most recently spent four years at Stryker Corporation, a leading global medical technology company, where he served as Vice President and Chief Financial Officer for Stryker's International Group, based in Singapore. Prior to Stryker, Mr. Binder served in a series of senior leadership roles at Bristol-Myers Squibb Company, an innovative global biopharmaceutical company. His last four positions at BMS were Vice President, Finance roles over different geographic operating units: United States (2012-2013), Europe (2008-2011), AsiaPacific (2005-2007), and Japan (2003-2005). Prior to his international experience, Mr. Binder served in three senior leadership roles for Oncology Therapeutics Network, a U.S. based independent subsidiary of BMS: Vice President, Strategic Development (2001-2003), Vice President, Customer Operations (2000-2001), and Chief Financial Officer (1997-2000). Before OTN, Mr. Binder progressed through three finance and accounting roles for BMS Worldwide Medicines Group after joining the company in 1992. Before BMS, he worked for Deloitte & Touche in a series of auditing roles with increasing responsibility over an eight year period beginning in 1984. Mr. Binder received a B.S. degree in Accounting and Business Administration from Muhlenberg College and is a Certified Public Accountant.

"We are very excited to have Steve join MannKind and our executive leadership team. His deep experience in finance and his commercial acumen acquired through a variety of senior leadership roles in multi-national healthcare companies will be a clear competitive advantage for us," said Dr. Castagna, Chief Executive Officer of MannKind. "Steve joins MannKind at an exciting period as we develop into a world class biopharmaceutical company." Dr. Castagna continued, "I would like to thank Rose Alinaya for her leadership as Acting Chief Financial Officer prior to Steve's hiring. Rose will now transition to leading investor relations for MannKind, a very important capability for us moving forward, reporting directly to Steve."

Mr. Binder commented, "MannKind is well-positioned for future growth and I could not be more excited about being a part of this team. I believe Afrezza is an innovative product with great potential to improve the quality of life for diabetic patients."

Ok..................

[celo]

Goes from a 55 billion market cap company to a 125 million market cap company. Looking for a challenge Mr. Binder? LET'S GO INTERNATIONAL!!  

[Deleted]

Mr. Binder commented, "MannKind is well-positioned for future growth and I could not be more excited about being a part of this team. I believe Afrezza is an innovative product with great potential to improve the quality of life for diabetic patients."

Apparently, Mr Binder also doesn't realize MannKind will run out of money in a few months

[liane]

Jul 17, 2017 8:14:45 GMT -5 @kastanes said:

Mr. Binder commented, "MannKind is well-positioned for future growth and I could not be more excited about being a part of this team. I believe Afrezza is an innovative product with great potential to improve the quality of life for diabetic patients."

Apparently, Mr Binder also doesn't realize MannKind will run out of money in a few months

But I would think of any new hire, a future CFO would have looked at the financials. Not saying they're good, just that he most certainly knows what he's getting into.

[akemp3000]

Very good to hear MNKD required someone with extensive international experience that will know how to handle foreign transactions, banking and currency issues. This adds significant credibility and expectations for the Biomm partnership in Brazil, a forthcoming Middle East deal mentioned by Mike C earlier and additional foreign markets. The cards are being dealt and we're starting to see Aces. Thank goodness as we've been running low on chips!

[celo]

Any one looking to work for Mannkind would be able to see the risks involved within 5 minutes.  Stock price, debt, revenue...one brief review of their last public quarterly report would show all of their weaknesses.  That's what makes these hires so interesting.

[madog365]

Another impressive hire for this leadership team. Just look at the executive team one year ago vs today and understand that this level of experience would never join a failing company.

In the past year little Mannkind has hired leaders from Amgen, Mylan, Astellas, and Stryker. 

Stryker is #19 on the fortune list for best companies to work for, yet one of their global execs jumps ship to come to Mannkind. Not to mention an executive who is responsible for the finances of a successful company has determined Mannkind to be a financially sound enough for him to take over the finances here.

fortune.com/best-companies/stryker/

Most exciting is his experience in Latin America, Asia, and Middle East.

[nadathing]

I would have loved to hear the dinner table conversation between Binder and his wife. "Honey, I'm leaving a secure position in a well established company to join a small struggling biotech with a questionable future."

[me]

Jul 17, 2017 8:58:09 GMT -5 nadathing said:

I would have loved to hear the dinner table conversation between Binder and his wife. "Honey, I'm leaving a secure position in a well established company to join a small struggling biotech with a questionable future."

I really don't like snarky comments, especially those with a whiff of negativity, but this made me spit my coffee out!!!  Touche!

[sportsrancho]

Jul 17, 2017 9:12:43 GMT -5 me said:

Jul 17, 2017 8:58:09 GMT -5 nadathing said:

I would have loved to hear the dinner table conversation between Binder and his wife. "Honey, I'm leaving a secure position in a well established company to join a small struggling biotech with a questionable future."

I really don't like snarky comments, especially those with a whiff of negativity, but this made me spit my coffee out!!!  Touche!

I'll bet he told his wife the details and she did a happy dance:-)
The Big Picture People.

[cjm18]

Jul 17, 2017 9:23:29 GMT -5 sportsrancho said:

Jul 17, 2017 9:12:43 GMT -5 me said:

I really don't like snarky comments, especially those with a whiff of negativity, but this made me spit my coffee out!!!  Touche!

I'll bet he told his wife the details and she did a happy dance:-)
The Big Picture People.

Stock options baby.

[matt]

Jul 17, 2017 8:58:09 GMT -5 nadathing said:

I would have loved to hear the dinner table conversation between Binder and his wife. "Honey, I'm leaving a secure position in a well established company to join a small struggling biotech with a questionable future."

My guess is that after four years in Singapore they decided to pull him out.  Three years is the norm for an expat assignment and it is sad but true that roughly 70% of repatriating expats move to a new job outside their former company within six months.  This can happen because the home office did not carve out a job for him, because he was unknown in the home office because he went from BMS straight to Singapore (which makes networking tough), or his family loved the lush tropical beauty of Singapore and was not willing to trade that for Kalamazoo, Michigan (a town that has seen better days).  I know Stryker well, have done business with them, and even interviewed with the head office for an expat job myself.  Stryker is a very good company, but you really have to want to live in rural Michigan and enjoy snowy winters.

[madog365]

Jul 17, 2017 10:24:33 GMT -5 matt said:

Jul 17, 2017 8:58:09 GMT -5 nadathing said:

I would have loved to hear the dinner table conversation between Binder and his wife. "Honey, I'm leaving a secure position in a well established company to join a small struggling biotech with a questionable future."

My guess is that after four years in Singapore they decided to pull him out.  Three years is the norm for an expat assignment and it is sad but true that roughly 70% of repatriating expats move to a new job outside their former company within six months.  This can happen because the home office did not carve out a job for him, because he was unknown in the home office because he went from BMS straight to Singapore (which makes networking tough), or his family loved the lush tropical beauty of Singapore and was not willing to trade that for Kalamazoo, Michigan (a town that has seen better days).  I know Stryker well, have done business with them, and even interviewed with the head office for an expat job myself.  Stryker is a very good company, but you really have to want to live in rural Michigan and enjoy snowy winters.

Less than a month now until your 'maybe' bankruptcy announcement prediction. We are all staying tuned. 


mnkd.proboards.com/post/109046

[compound26]

Jul 17, 2017 10:39:35 GMT -5 madog365 said:

Jul 17, 2017 10:24:33 GMT -5 matt said:

My guess is that after four years in Singapore they decided to pull him out.  Three years is the norm for an expat assignment and it is sad but true that roughly 70% of repatriating expats move to a new job outside their former company within six months.  This can happen because the home office did not carve out a job for him, because he was unknown in the home office because he went from BMS straight to Singapore (which makes networking tough), or his family loved the lush tropical beauty of Singapore and was not willing to trade that for Kalamazoo, Michigan (a town that has seen better days).  I know Stryker well, have done business with them, and even interviewed with the head office for an expat job myself.  Stryker is a very good company, but you really have to want to live in rural Michigan and enjoy snowy winters.

Less than a month now until your 'maybe' bankruptcy announcement prediction. We are all staying tuned. 


mnkd.proboards.com/post/109046

It isn't less than one month from now. matt has basically predicted Mannkind bankrupt as of Thanksgiving 2016. I believe many on this board remember that.

mnkd.proboards.com/post/82986