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Post by brentie on Jan 4, 2017 9:08:34 GMT -5
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Post by kbrion77 on Jan 4, 2017 9:11:58 GMT -5
Yesterdays RLS milestone was his signing bonus.......
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Post by sophie on Jan 4, 2017 9:12:06 GMT -5
Another AMGEN carryover? Can't hurt.
I liked this tidbit:
Stuart's experience will not only facilitate a quick and efficient expansion of our Afrezza launch capability, but he will be instrumental in building an organization to accommodate other strategic initiatives, such as product development and global expansion.
Sounds like Matt's really trying to push us globally. Wonder if Mike C helped arrange this hire. Familiarity is usually a good thing.
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Post by boytroy88 on Jan 4, 2017 9:13:54 GMT -5
Interesting... another ex-Amgen employee... he was exec-VP.... let the conspiracy theories begin....😄
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Post by sportsrancho on Jan 4, 2017 9:18:17 GMT -5
MannKind Announces Key Addition to Its Executive Management Ranks VALENCIA, Calif., Jan. 04, 2017 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) (TASE:MNKD) today announced that Stuart A. Tross, Ph.D., has joined the company as its Chief People Officer, with responsibilities for Human Resources, Information Technology and West Coast Facilities. Dr. Tross will be integral in accelerating the company's development into a world-class, global biopharmaceutical company centered on the value of its human capital. He will be reporting to Matthew Pfeffer, Chief Executive Officer, and will serve on MannKind's executive leadership team. Dr. Tross joins MannKind with several decades of leadership experience in the life sciences industry. From 2006 to 2016 he served in roles of increasing responsibility at Amgen, the last three years as Senior Vice President and Chief Human Resources Officer responsible for Human Resources and Security on a global basis. From 1998 to 2006 he served in a series of leadership roles at Bristol-Myers Squibb, the last three years as Vice President and Global Head of Human Resources for Mead Johnson Company. Stuart received a B.S. degree from Cornell University and M.S. and Ph.D. degrees in Industrial-Organization Psychology from the Georgia Institute of Technology. "To welcome Stuart to our executive management team, with his extensive biopharmaceutical background, is both timely and opportunistic. The addition of his wide-ranging experience will be transformational at MannKind," said Mr. Pfeffer. "Stuart's experience will not only facilitate a quick and efficient expansion of our Afrezza launch capability, but he will be instrumental in building an organization to accommodate other strategic initiatives, such as product development and global expansion." Dr. Tross commented, "I am excited to join the MannKind team during this time of rapid transformation. Afrezza is an innovative product in an area of unmet patient need with significant growth potential, and there are a number of additional growth opportunities in the pipeline. I look forward to contributing to MannKind's future." About MannKind Corporation MannKind Corporation (NASDAQ:MNKD) (TASE:MNKD) focuses on the discovery and development of therapeutic products for patients with diseases such as diabetes. MannKind maintains a website at www.mannkindcorp.com to which MannKind regularly posts copies of its press releases as well as additional information about MannKind. Interested persons can subscribe on the MannKind website to e-mail alerts that are sent automatically when MannKind issues press releases, files its reports with the Securities and Exchange Commission or posts certain other information to the website. Forward-Looking Statements This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding the commercial potential of Afrezza. Words such as "believes", "anticipates", "plans", "expects", "intend", "will", "goal", "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon MannKind's current expectations. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, the ability to generate significant product sales for MannKind, difficulties or delays in obtaining regulatory feedback or completing and analyzing the results of clinical studies, MannKind's ability to manage its existing cash resources or raise additional cash resources, stock price volatility and other risks detailed in MannKind's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended December 31, 2015 and periodic reports on Form 10-Q and Form 8-K. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and MannKind undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release. |
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Post by Deleted on Jan 4, 2017 9:20:36 GMT -5
sounds like a VP Of human resources?
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Post by esstan2001 on Jan 4, 2017 9:27:17 GMT -5
When I first saw the announcement, I thought maybe DeSisto.
I was a little disappointed until I hit all the text about global expansion and another Amgen guy they had to woo...
I close out with a REALLY BAD joke:
How many CPO's does it take to make a Star Wars character?
3
(So I re-read it 3x; 1x. I cap'd bad 2x. I added cap'd really 3x. I bolded really)
PS- has anyone ever really heard of a Chief People Officer before?
Sounds like some corporate double speak- just call'em an HR person
(although he seems to have a pretty good pedigree)
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Post by Deleted on Jan 4, 2017 9:30:31 GMT -5
Hiring someone at this level by default means they are planning to grow considerably in the near future (within 12-18 months perhaps). A job like this is VP of HR.
On 12-20-16 Mannkind posted an Area Business Manager position (sales job) ironically in Beverly Hills. On 1-1-17 a job was posted for Desktop Support Engineer in Danbury. on 1-3-17 another position in Danbury was posted for a Senior Scientist. Now posting and hiring are two different things but you cannot be hiring for these jobs if you knew the company were going to have adverse events (liquidity, delisting or other going concern issues). I cannot imagine anyone taking a job at Mannkind these days without some significant discussions during the interview process about the company being able to be viable for at least a year. Maybe the pat answer on managements part is "we have enough cash now to get us to Q3 with what we believe are things in place to extend the cash runway far enough to get Afrezza sales to a point where we are cash break even" or some wording like this.
So then, is Matt P still not concerned about delisting or is there some type of contingency plan in place should this happen? Per the comments on another thread yesterday, a reverse split will kill shareholder value and a reverse merger may or may not crush shareholders depending on how it plays out. Experts have said either of these take time and if this is the path then things would have to start to happen sooner rather than later. Never a dull moment...
In the next 4-6 weeks, Afrezza sales must start to show strong growth trajectory.
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Post by kbrion77 on Jan 4, 2017 9:37:47 GMT -5
sounds like a VP Of human resources? For a company experiencing transformative change and reorganization it seems like he is a good fit.... One of the most complex challenges Amgen faced in its transformation was creating a new operating model. Bradway, the CEO, wanted to expand the company’s global footprint aggressively and launch an unprecedented number of new drugs. But the operating model that had supported the previous 20 years of growth was becoming an obstacle to executing on the new vision. To handle this delicate transition, the company elevated Stuart Tross, the human resources vice president responsible for Amgen’s research and development organization. His analytical rigor, facilitative style, and impeccable credibility made him a perfect fit for the job.
When he got the call, however, Tross wasn’t sure what to think. R&D is at the core of what a biotech company does, and investing most of his time into a full-time transformation role seemed risky. With Bradway’s encouragement, however, he took the leap and eventually led some of the company’s most profoundly transformative changes—initiatives involving structure, governance, accountabilities and culture. His success also earned him a spot in the C-suite. When the CHRO position opened up, Stuart became the natural candidate to “operationalize” the new model, and was promoted to senior VP of HR.For crying out loud if he did this with Amgen I would expect him to be successful here as well. |
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Post by kc on Jan 4, 2017 9:44:14 GMT -5
When I first saw the announcement, I thought maybe DeSisto. I was a little disappointed until I hit all the text about global expansion and another Amgen guy they had to woo... I close out with a REALLY BAD joke: How many CPO's does it take to make a Star Wars character? 3 (So I re-read it 3x; 1x. I cap'd bad 2x. I added cap'd really 3x. I bolded really) PS- has anyone ever really heard of a Chief People Officer before? Sounds like some corporate double speak- just call'em an HR person (although he seems to have a pretty good pedigree) That is a human resource friendly term that many big entities are using CPO or chief people officer |
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Post by madog365 on Jan 4, 2017 9:47:41 GMT -5
I hope Dr. Tross consulted with Proboards Matt before making this decision to leave his executive job at Amgen. Apparently if MNKD doesn't announce a R/S within the next two weeks they will go bankrupt. Dr.Tross may not know this.
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Post by silentknight on Jan 4, 2017 9:51:02 GMT -5
Sounds like the guy is experienced and qualified, so that's always good. My guess is that they needed someone to handle the ins and outs of hiring all these sales people directly but it's surprising that he'd leave Amgen (stable) for MNKD (speculative). I'm sure the compensation is considerable and I'm all for hiring the best, but ultimately the merits of every decision will be evaluated on whether or not the company can sell Afrezza.
So far, that isn't happening. That's not to say that it wont or can't and no matter what happens, it's a big improvement from what we had over the last year in terms of management performance. But I've been pretty underwhelmed with the results from MNKD 2.0 thus far. Here's hoping Mr. Tross can help turn things around and 2017 is better for MNKD investors.
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Post by silentknight on Jan 4, 2017 9:53:46 GMT -5
I hope Dr. Tross consulted with Proboards Matt before making this decision to leave his executive job at Amgen. Apparently if MNKD doesn't announce a R/S within the next two weeks they will go bankrupt. Dr.Tross may not know this. In all fairness to Proboards Matt, he never said that not doing a R/S would cause the company to go bankrupt. You're putting words into his mouth. He said that allowing a move to the OTC would kill the company. That doesn't mean bankruptcy. The company has money for the next few months, but you better believe that trying to secure future financing from the OTC would be WAYYY worse than trying to do it from Nasdaq. That doesn't mean immediate bankruptcy. The company would survive on the OTC, at least for a little while, albeit in a much more painful fashion. I tend to agree with him. Take issue with his post if you want, but don't misquote him. |
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Post by onemann on Jan 4, 2017 9:58:50 GMT -5
silentknight beat me to it. R/S only has to do with preventing the delisting. As stated in the last earnings cc they have enough money to get them to 3Q 17. I was also hoping Desisto but this is definitely encouraging. Looks like we wait and see for another 2 quarters. I've waited so long that 2 more quarters at this point isn't a huge deal.
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Post by kc on Jan 4, 2017 10:00:11 GMT -5
He left his Amgen job very suddenly as the Amgen leadership web page does not even have a Sr VP of HR listed. So they have not appointed a replacement yet.
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