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Post by mnholdem on Nov 20, 2015 8:04:02 GMT -5
MannKind Announces Senior Management Changes
VALENCIA, Calif., Nov. 20, 2015 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) and (TASE:MNKD) today announced that Hakan Edstrom has stepped down as the President, Chief Executive Officer and as a director of MannKind. The board of directors of MannKind appointed Alfred Mann as interim Chief Executive Officer, effective November 19, 2015. Mr. Mann will continue to serve as the Executive Chairman of the Company. A committee of the board will commence an immediate search for a successor CEO.
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Post by yash on Nov 20, 2015 8:04:24 GMT -5
VALENCIA, Calif., Nov. 20, 2015 (GLOBE NEWSWIRE) -- MannKind Corporation (MNKD.TA) and (MNKD.TA) today announced that Hakan Edstrom has stepped down as the President, Chief Executive Officer and as a director of MannKind. The board of directors of MannKind appointed Alfred Mann as interim Chief Executive Officer, effective November 19, 2015. Mr. Mann will continue to serve as the Executive Chairman of the Company. A committee of the board will commence an immediate search for a successor CEO. finance.yahoo.com/news/mannkind-announces-senior-management-changes-130000949.html |
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Post by yash on Nov 20, 2015 8:06:00 GMT -5
mnholdem, you beat me by few seconds. haha
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Post by yossarian on Nov 20, 2015 8:14:01 GMT -5
What's this all about, rats leaving a sinking ship?
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Post by silentknight on Nov 20, 2015 8:14:26 GMT -5
MannKind Announces Senior Management Changes
VALENCIA, Calif., Nov. 20, 2015 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) and (TASE:MNKD) today announced that Hakan Edstrom has stepped down as the President, Chief Executive Officer and as a director of MannKind. The board of directors of MannKind appointed Alfred Mann as interim Chief Executive Officer, effective November 19, 2015. Mr. Mann will continue to serve as the Executive Chairman of the Company. A committee of the board will commence an immediate search for a successor CEO.
Finally some action out of the BOD. Good news. Maybe this will be the start of the turn around. |
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Post by curiousdoc on Nov 20, 2015 8:19:57 GMT -5
Or maybe Al has seen enough missteps over the past 6 months and wants to shake things up and finallyy get Afrezza off the ground. How much new energy can a 90+ year old bring to the table? Lets hope quite a bit...
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Post by yash on Nov 20, 2015 8:22:48 GMT -5
Or maybe Al has seen enough missteps over the past 6 months and wants to shake things up and finallyy get Afrezza off the ground. How much new energy can a 90+ year old bring to the table? Lets hope quite a bit... "The board will commence an immediate search for a successor CEO" |
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Post by Deleted on Nov 20, 2015 8:24:54 GMT -5
Alfred Mann is the man!!!
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Post by mssciguy on Nov 20, 2015 8:25:04 GMT -5
Or maybe Al has seen enough missteps over the past 6 months and wants to shake things up and finallyy get Afrezza off the ground. How much new energy can a 90+ year old bring to the table? Lets hope quite a bit... "The board will commence an immediate search for a successor CEO" Maybe someone from Sanofi? Would that work? |
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Post by tchalaa on Nov 20, 2015 8:25:53 GMT -5
Historic Stock Lookup Week of November 9, 2015 Date Open High Low Close Volume 11/09/15 2.81 2.84 2.38 2.63 10,175,371 11/10/15 2.35 2.42 2.20 2.30 11,493,325 11/11/15 2.27 2.27 1.76 2.22 24,581,282 11/12/15 2.36 3.02 2.25 2.64 41,695,712 11/13/15 2.60 2.60 2.35 2.44 12,420,601 More than 100,366,291 shares were traded, almost 25% of the total outstanding shares Now the CEO is stepping down and Al. Mann directly or indirectly in control of almost 35% of the total outstanding shares steps up as interim CEO ###### 1.20 “Change of Control” means, with respect to a Party (or in the case of Licensors and solely for purposes of this definition, any of MannKind, TICV or BV separately): (a) (i) the acquisition by a Third Party or Group, in one transaction or a series of related transactions, of direct or indirect beneficial ownership of more than fifty percent (50%) of the outstanding voting equity securities of a Party; (ii) a merger or consolidation involving a Party, as a result of which a Third Party or a Group acquires direct or indirect beneficial ownership of more than fifty percent (50%) of the voting power of the surviving entity immediately after such merger, reorganization or consolidation; or (iii) a sale of all or substantially all of the assets of a Party in one transaction or a series of related transactions to a Third Party or a Group; or (b) the acquisition by a […***…], in one transaction or a series of related transactions, of: (i) majority control of the board of directors or equivalent governing body of such Party; or (ii) direct or indirect beneficial ownership of more than […***…] percent ([…***…]%) of the outstanding voting equity securities of a Party; or (iii) the ability to cause the direction of the management or allocation of corporate resources of such Party (provided that […***…], shall not be deemed to be a Change of Control under this sub-clause (iii) so long as […***…]; or (iv) all or substantially all of the assets of such Party related to the transactions contemplated by this Agreement. 15.10 Change of Control of MannKind. (a) If MannKind’s Board of Directors determines to pursue a Change of Control of MannKind (whether such determination is made in response to an offer or term sheet submitted by a Third Party or such determination is made by the Board of Directors independently of any such Third Party offer or term sheet), MannKind shall provide written notice to Sanofi of such determination no later than the date MannKind or its representatives first notifies any potential Third Party acquirer of such determination, so that Sanofi may, at its discretion, participate in the sale process and negotiate with MannKind for the potential acquisition of MannKind by Sanofi. MannKind shall not enter into a Change of Control transaction with a Third Party within the thirty (30) day period following delivery of such notice to Sanofi. MannKind shall ensure that during the Term of this Agreement that neither TICV nor BV undergoes a Change of Control other than a transaction in which MannKind undergoes the same Change of Control. (b) In the case MannKind, BV or TICV undergoes a Change of Control involving […***…], Sanofi may by written notice delivered to MannKind within thirty (30) days after the first public announcement of such Change in Control, elect to retain its rights to Product hereunder and discontinue MannKind’s participation in the Development, Manufacture, and Commercialization of Product hereunder, in which case Section 13.4(b) shall apply. www.sec.gov/Archives/edgar/data/899460/000119312514406347/d783199dex101.htm |
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Post by factspls88 on Nov 20, 2015 8:25:51 GMT -5
Well that just saved us $1.43 million in salary.
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Post by mnholdem on Nov 20, 2015 8:32:26 GMT -5
Ouch! That was cold...
...can you come work for me, starting Monday?  |
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Post by mindovermatter on Nov 20, 2015 8:32:31 GMT -5
Wow! Another hit for the company and another story for the shorts to have a field day with. I wonder if Hakan is not well because this seemed rather sudden.
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Post by tchalaa on Nov 20, 2015 8:32:53 GMT -5
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Post by liane on Nov 20, 2015 8:33:25 GMT -5
OMG!!!
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