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Post by mnholdem on Nov 20, 2015 8:53:17 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. If that BoD meeting was yesterday, as lakers reported it was, there must have been some serious fireworks going on in that boardroom. |
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Post by tjones0899 on Nov 20, 2015 8:53:18 GMT -5
WOW this is intense!!! I wonder what is going to happen next....
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Post by boytroy88 on Nov 20, 2015 8:53:24 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? Is that what was announced? |
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Post by esstan2001 on Nov 20, 2015 8:53:19 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? I hope some other actions come of this BoD meeting besides Hakan's sacking... |
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Post by silentknight on Nov 20, 2015 8:54:13 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. Even if there was a plan, and I tend to think there still might be, you can't allow a CEO to make the mistakes that Hakan made over and over again. The company seemed to be drifting listless into the abyss since the partnership with SNY was announced. Hopefully this injects new life into things and we begin to recover. No offense to Hakan, but in the business world CEOs are expected to show positive results. He didn't so he needed to go. I see it as a positive. We're cutting dead weight in order to right the ship and improve the situation. The share price will take a short term hit as the skeptics come out again in force, but long term, this is good. Al knows business and I have hopes that we'll find a new CEO that actually knows what he's doing. |
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Post by boytroy88 on Nov 20, 2015 8:55:12 GMT -5
BoD to convene Nov 2nd half to decide on TS partnership or to decide something. If that BoD meeting was yesterday, as lakers reports it was, there must have been some serious fireworks going on in that boardroom. In one of the newswire it did say that they had the meeting yesterday and that Mr. Mann was appointed interim effective yesterday. |
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Post by ricguy on Nov 20, 2015 8:55:56 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. Hi cjc04-that was my first thought as well. My second thought was I am glad they did something about it and didn't let this go any further, I hope now they can get someone qualified in there and it's not to late to get this turned around. |
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Post by Deleted on Nov 20, 2015 8:59:44 GMT -5
Viehbacher is with Gurnet Point Capital out of Boston. Gurnet Point is a $2B fund that was started by Ernesto Bertarelli and according to the website, they put money into growth buyout and venture deals. Perhaps Karma will be a bitch. Take Afrezza away from SNY, do a deal with a more aggressive suitor. www.gurnetpointcapital.com |
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Post by boytroy88 on Nov 20, 2015 8:59:59 GMT -5
Now it's down $0.08 euros.. |
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Post by prosper on Nov 20, 2015 9:00:26 GMT -5
Except they will now have to pay $2m+ for a new guy with huge options
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Post by pmikeks on Nov 20, 2015 9:01:33 GMT -5
Glad to see Al back! If a company needs a little leadership they can hire Hakan, he is as little as there is out there! Maybe while they look for a new CEO they can find someone to handle PR and IR as well.
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Post by boytroy88 on Nov 20, 2015 9:01:44 GMT -5
Except they will now have to pay $2m+ for a new guy with huge options But if the new guy is able to right the ship it's worth it.. |
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Post by wmdhunt on Nov 20, 2015 9:03:44 GMT -5
Stagnant situation had to end and any movement will at least bring hope if not progress. Maybe we'll be fortunate and get both.
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Post by boytroy88 on Nov 20, 2015 9:07:00 GMT -5
Stagnant situation had to end and any movement will at least bring hope if not progress. Maybe we'll be fortunate and get both. Wonder how long our SP stays down if they don't find a replacement right away? |
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Post by mbseeking on Nov 20, 2015 9:07:58 GMT -5
Viehbacher might even do it for free. Just to humiliate Brandicourt.
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