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Post by silentknight on Nov 20, 2015 8:35:35 GMT -5
"The board will commence an immediate search for a successor CEO" Maybe someone from Sanofi? Would that work? Why not Viebacher? He seemed to see the value in MNKD and the TS application before he was ousted by SNY. He clearly knows how to create shareholder value and he clearly knows how to run a biopharma company. Maybe Al and the BOD should give him a call. |
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Post by peppy on Nov 20, 2015 8:35:42 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.
BoD to convene Nov 2nd half to decide on TS partnership or to decide something. |
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Post by mbseeking on Nov 20, 2015 8:36:46 GMT -5
Wonder if Chris Viehbacher was tied up with a non compete?
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Post by slugworth008 on Nov 20, 2015 8:37:03 GMT -5
Yes he is Kastanes. Awesome news IMO - Wonder what Chris Vienbacher is up to these days?
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Post by bloodrootfc on Nov 20, 2015 8:37:51 GMT -5
If I remember correctly, someone said the BoD was meeting a few days ago "To discuss important matters". Voila!
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Post by liane on Nov 20, 2015 8:38:03 GMT -5
Maybe someone from Sanofi? Would that work? Why not Viebacher? He seemed to see the value in MNKD and the TS application before he was ousted by SNY. He clearly knows how to create shareholder value and he clearly knows how to run a biopharma company. Maybe Al and the BOD should give him a call. And he's local - save on relocation cost. |
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Post by peppy on Nov 20, 2015 8:38:51 GMT -5
Yes he is Kastanes. Awesome news IMO - Wonder what Chris Vienbacher is up to these days? it was posted yesterday on another thread, he has started a new company in the USA |
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Post by boytroy88 on Nov 20, 2015 8:39:04 GMT -5
Yes he is Kastanes. Awesome news IMO - Wonder what Chris Vienbacher is up to these days? You would think the SP should go up...but it was down to $2.20 (now $2.30). It was $2.47 when I checked half hour ago... |
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Post by tchalaa on Nov 20, 2015 8:41:08 GMT -5
Well that just saved us 1.43 million in salary. We definitely need a CEO full time, who will cost us some $$$ hopefully less |
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Post by saxcmann on Nov 20, 2015 8:43:19 GMT -5
I remember when Howard Schultz took back over Starbucks. Things turned quickly. Go Al Mann!
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Post by rvc on Nov 20, 2015 8:44:08 GMT -5
(rats in a sinking ship?) could be, but in any rate the stock will sell off drastically in the next few days as analysts and shorts will look at this as desperate move by a desperate company.
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Post by esstan2001 on Nov 20, 2015 8:44:49 GMT -5
What's this all about, rats leaving a sinking ship? Hakan is a nice guy; was probably a pretty good operations guy (his last MNKD gig I think) but just not cut from the CEO cloth- he really did not demonstrate any major strategic actions. Never closed anything major that he talked about, 'let' Matt's responsibilities drift into his realm, and apparently did not direct Matt to execute any financing under better terms, meaning always taking opportunistic actions to protect for a rainy day. IMO he was just confidently waiting for Plan A events to unfold as he expected them to, without having put any Plan B, C, etc contingencies in place. Sure I am Monday morning quarterbacking but some of this could be seen. I was deluded into complacency by what I read as management (over)confidence. My bad. Looking forward to a good dynamic CEO that understands strategy and messaging. |
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Post by cjc04 on Nov 20, 2015 8:47:45 GMT -5
My first thought is that this is NOT good.... This confirms to me that mgmt has not been on quiet cruise control carrying out the plan set by Al & SNY, instead, that Hakan is as bad as he sounds on conference calls.
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Post by mnholdem on Nov 20, 2015 8:48:43 GMT -5
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Post by tchalaa on Nov 20, 2015 8:49:50 GMT -5
The board of directors of MannKind to convene Nov 2nd half to decide on the future of Mannkind without Mr HAKAN EDSTROM. Was that the dilemma?
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