How soon will we get a new CEO? [poll]

[stevil]

Nov 22, 2015 14:17:14 GMT -5 peppy said:

Nov 22, 2015 14:15:36 GMT -5 jpg said:

Teva is one of the most brutal and cheap partners. A last chance choice. Yes they are capable but mostly of stripping most of the value out of their partners. nd you want a lawsuit friendly partner? Again the king of lawsuits: Teva.

As long as pumping a partnerhip (based on nothing) we should use Novartis (Sandoz also). Now that is pumping I could actually see as good pumping while to me the Tevs pumping is almost bashing...

so sorry jpg.

more like no way out

I will stop the thought.

peppy,

I appreciate people like you who enjoy research and lay out evidence for others to dissect. 

jpg,

Not trying to come at you in spite of you trying to chase me off. Do what you think you must.

but back to peppy, don't let people scare you off or make you feel small for having an opinion and sharing your thoughts. Some people on here value your contributions. It's up to the mods to decide if they want to revoke posting privileges. Don't let any of the others on here who want to play board police deter you from sharing. Because like I said, some of us appreciate it. 

The way I use this board is a strategy room. Throw up an idea and keep dissecting it until you can throw it out. Then move onto the next one. 

Others would prefer this be a facts only forum. To each their own. But be who you are, peppy until the people who run this site tell you it's not allowed. 

[mdcenter61]

It's definitely an uncertain world, and MNKD has a pile of mixed signals, no signals, and uncertainties around it right now, which is so difficult for us as investors for the short term as well as long-term. This is not fun! Personally, I don't know about TEVA, and although I think that the TASE listing/stock offering was a bit of a Hail Mary, I keep coming back to the fact that, given Al Mann's legacy with Israeli biotech and companies, I just don't see Al roping these ETF's in without a high level of confidence that things will work out well. JMHO, though. Given the holidays and all, I see the replacement CEO as an early 2016 event. Happy Thanksgiving to All!

[slugworth008]

benyiju

"Hakansack" Now that IS funny. Good one.

[slugworth008]

Here's how I see this. If we have a new CEO by EOY then MNKD has been discreetly looking for one and the resigning/firing of Edstrom was a planned event.
If we don't have a new CEO until sometime Q1 let's say. Then this was a reaction to a specific event that sent to BOD/Al over the edge causing them to
remove him. Judging by how Edstrom resigned (or was fired) without the usual somewhat customary commentary from the company I tend to believe it's possible they have been looking for a replacement - or they have one lined up and we'll know pretty quickly....aka...by EOY.

Once again an event occurs with with little communication from MNKD. 

Obviously this is all pure pontificating. Perhaps I should roll the bones and see what they say. LOL

 

[od]

Nov 22, 2015 14:38:06 GMT -5 stevil said:

Nov 22, 2015 14:26:23 GMT -5 jpg said:

Mann is Israeli? Really? Do you have a reference for that 'fact'?

Pardon me, Jewish. That's what I meant... 

Hate citing wiki as a source, but I hope you'll accept. Let me know if you need DNA evidence to confirm. Lab is on standby.

Thanks in advance.


en.wikipedia.org/wiki/Alfred_E._Mann

stevil, I am quite sure jpg, is aware of Mann's religion.  Could you simply have acknowledged your error, without the tail comment  Just because we share a sandbox, must we act like children?

[stevil]

Nov 22, 2015 20:00:53 GMT -5 od said:

Nov 22, 2015 14:38:06 GMT -5 stevil said:

Pardon me, Jewish. That's what I meant... 

Hate citing wiki as a source, but I hope you'll accept. Let me know if you need DNA evidence to confirm. Lab is on standby.

Thanks in advance.


en.wikipedia.org/wiki/Alfred_E._Mann

stevil, I am quite sure jpg, is aware of Mann's religion.  Could you simply have acknowledged your error, without the tail comment  Just because we share a sandbox, must we act like children?

You're right. I threw mud back instead of just wiping it off my face. 

I usually ignore the haters, but there are a couple who still get me to engage them. Personally, I enjoy the banter but I can see how it's distracting for others.

My apologies to you, od, and anyone else whose experience gets ruined by me and the jpg's of this board. I can't control them, but I'll do my best to do my part to keep this board free from our squabbles. 

[benyiju]

Lakers posted this in the media section, but since it is directly relevant to the question at hand I'm reposting here:

MannKind CEO Hakan Edstrom leaves – Unsung departure

management-change.com/mannkind-ceo-hakan-edstrom-leaves-unsung-departure/

(management-change.com) – Valencia, California, November 20, 2015 – It is an unsung departure. Hakan Edstrom (65), chief executive of MannKind Corporation, leaves. It is an abrupt change. As announced by MannKind in a news release on Friday, November 20, 2015, Hakan S. Edstrom has already left the post as Chief Executive Officer at the biopharmaceutical company in a surprising move after less than one year on the job on November 19, 2015.

The search for a successor is underway.

His duties will be taken over on an interim basis by Al Mann (89), founder and Executive Chairman of MannKind.

Share price decline

The change follows a sharp decline in the share price of MannKind Corporation since June 2014.

Bumpy period

The shake-up comes amid a bumpy period for the business. MannKind develops an inhaled insulin drug, which it began selling in February under a partnership with Sanofi. But sales of the drug have been much lower than expected.

No reason given

In the announcement, MannKind did not explain the reason for the sudden management change.

Seldom a good sign

It is seldom a good sign when a top manager leaves the position at short notice and without an understandable explanation. “Hakan Edstrom has stepped down as the President, Chief Executive Officer and as a director of MannKind,” MannKind only said.

Information about the future plans of Edstrom was not immediately available.

Hakan S. Edstrom has been MannKind’s President since April 2001 and has served as one of MannKind’s directors since December 2001. From April 2001 until January 2015, Edstrom was MannKind’s Chief Operating Officer. In January 2015 he became MannKind’s Chief Executive Officer.

Bausch & Lomb, Pharmacia

Edstrom was with Bausch & Lomb, Inc., a health care product company, from January 1998 to April 2001, advancing to the position of Senior Corporate Vice President and President of Bausch & Lomb, Inc. Americas Region.

From 1981 to 1997, Edstrom was with Pharmacia Corporation, where he held various executive positions, including President and Chief Executive Officer of Pharmacia Ophthalmics Inc.

Alarm signal

When a top manager steps aside with no permanent successor in place, it is always an alarm signal. It may be a sign that the outgoing manager has been asked to leave or threw in the towel. It can also indicate a dispute.

Next best solution

It’s best practice for a board to have a pipeline in place for top leadership. Making the chairman interim Chief Executive Officer is the next best solution.

Search for a successor

A committee of the board will commence an immediate search for a successor CEO, MannKind said.

Al Mann takes over

The duties of Edstrom are taken over by Alfred (Al) Mann as interim Chief Executive Officer, effective on November 19, 2015. Alfred E. Mann founded Mannkind Corp., and has been its Executive Chairman since January 2015. Mann will continue to serve as the Executive Chairman of the Company.

Unsung departure

Taking as a basis the announcement from Valencia, California-based MannKind, it is an unsung departure for Edstrom.

In the very formal statement which consists only of four sentences, the departing chief executive gets no words of praise for concrete successes, no word of appreciation, no explicit word of thanks, no word of regret and no good wishes. It remains unclear whether the initiative for the change came from Edstrom. It is not clear why the 65-year-old Edstrom leaves the post so suddenly.

Terms of the management change were not immediately disclosed.

The switch happened so quickly that MannKind Corporation still lists Edstrom as director on its leadership page.

No personal words

Personal words for Edstrom from the management were not contained in the statement.

Salary details for Mann were not immediately disclosed.

No remarks from Edstrom

In the brief announcement from MannKind, Edstrom gets no chance to speak.

MannKind: $1 billion market value

MannKind is listed at Nasdaq and has a market capitalization of about $1 billion.



management-change.com publishes reports on capital market-relevant management changes, with special focus on facts, figures and form.

Subscribe to our newsletter.

Follow us on Twitter @mgmtchange.

management-change at a glance
Who leaves
Name Hakan S. Edstrom
Position Chief Executive Officer
Company MannKind Corporation
Has/wants to leave? –
When November 19, 2015
Immediately? with immediate effect
Surprise? surprise
Reason no reason given
Type of departure Unsung departure
New tasks –
Who takes over
Name Alfred Mann
Future position interim Chief Executive Officer
At company MannKind Corporation
Previous position Executive Chairman
At company MannKind
When November 19, 2015
When announced November 20, 2015
management-change.com

[benyiju]

The article is rather roughly written. It looks like it's one of those business news sites that use a template they just plug info into.

[falconquest]

Nov 22, 2015 17:45:48 GMT -5 slugworth008 said:

Here's how I see this. If we have a new CEO by EOY then MNKD has been discreetly looking for one and the resigning/firing of Edstrom was a planned event.
If we don't have a new CEO until sometime Q1 let's say. Then this was a reaction to a specific event that sent to BOD/Al over the edge causing them to
remove him. Judging by how Edstrom resigned (or was fired) without the usual somewhat customary commentary from the company I tend to believe it's possible they have been looking for a replacement - or they have one lined up and we'll know pretty quickly....aka...by EOY.

Once again an event occurs with with little communication from MNKD. 

Obviously this is all pure pontificating. Perhaps I should roll the bones and see what they say. LOL

 

I agree with you Slug and to your second point, we have been waiting for a TS partnership announcement by year end, er I mean by the end of the first quarter. Perhaps there was a deal that was close and Hakan messed it up. We will never know. One thing is for certain, the new CEO will have to hit the ground running to get things moving forward quickly. We have been stuck in first gear far too long. Quite frankly I'm tired of "hope", I want to see results!

[jurystillout]

I have a feeling the "4th quarter, end of year" timeline Hakan blurted out made everyone at mnkd cringe. I think this was purely wishful thinking and everyone knew it. Everything about the last CC broke the last straw for Hakan.
I hope Al is fired-up about fixing the problems and has the energy to do it until a successor can be found.

[sportsrancho]

Nov 23, 2015 10:17:44 GMT -5 jurystillout said:

I have a feeling the "4th quarter, end of year" timeline Hakan blurted out made everyone at mnkd cringe. I think this was purely wishful thinking and everyone knew it. Everything about the last CC broke the last straw for Hakan.
I hope Al is fired-up about fixing the problems and has the energy to do it until a successor can be found.

I believe TS is the future. But I haven't been able to get very excited about it as far as MNKD goes because I never feel like I'm hearing the truth on the CC's. It does seem like wishful thinking. Or more like(sketchy) is the word I'm looking for. The pressure those guys must be under though I couldn't even imagine!

[jeremg]

Nov 23, 2015 13:45:11 GMT -5 sportsrancho said:

Nov 23, 2015 10:17:44 GMT -5 jurystillout said:

I have a feeling the "4th quarter, end of year" timeline Hakan blurted out made everyone at mnkd cringe. I think this was purely wishful thinking and everyone knew it. Everything about the last CC broke the last straw for Hakan.
I hope Al is fired-up about fixing the problems and has the energy to do it until a successor can be found.

I believe TS is the future. But I haven't been able to get very excited about it as far as MNKD goes because I never feel like I'm hearing the truth on the CC's. It does seem like wishful thinking. Or more like(sketchy) is the word I'm looking for. The pressure those guys must be under though I couldn't even imagine!

I'm starting to think there's good reason "the truth" has been kept from us, the truth is likely much worse than most imagined (actually the tone around here lately is finally starting to match the reality of the situation, for better or worse(?)). TS could be the future but only if it is not buried before then; right now Afrezza is MNKD's "all or nothing" bet, Afrezza's fate will be the fate of Technosphere [under MNKD's name at least].

[kball]

Back to the threads question...Any way we can poll the BoD on this?

[sportsrancho]

Nov 23, 2015 14:02:17 GMT -5 jeremg said:

Nov 23, 2015 13:45:11 GMT -5 sportsrancho said:

I believe TS is the future. But I haven't been able to get very excited about it as far as MNKD goes because I never feel like I'm hearing the truth on the CC's. It does seem like wishful thinking. Or more like(sketchy) is the word I'm looking for. The pressure those guys must be under though I couldn't even imagine!

I'm starting to think there's good reason "the truth" has been kept from us, the truth is likely much worse than most imagined (actually the tone around here lately is finally starting to match the reality of the situation, for better or worse(?)). TS could be the future but only if it is not buried before then; right now Afrezza is MNKD's "all or nothing" bet, Afrezza's fate will be the fate of Technosphere [under MNKD's name at least].

I think thats true. But also think Al will DO EVERYTHING in his power to make Afrezza a success! Just betting with Al and all the people on Afrezza. I'm buying more:-)

[suebeeee1]

I figure we won't have a new CEO until April or May of next year. Hoping I'm wrong, but I can't see Al walking away again until his baby is a bit more secure. Maybe in the meantime will will save a few $$ if he doesn't charge the company for his services.