|
|
Post by sla55 on May 30, 2017 8:05:33 GMT -5
investors.mannkindcorp.com/releasedetail.cfm?ReleaseID=1028218VALENCIA, Calif., May 30, 2017 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) (TASE:MNKD) announced today that its Board of Directors appointed Michael Castagna, Pharm.D., as Chief Executive Officer effective May 25, 2017. Dr. Castagna replaced Matthew Pfeffer, who served as both CEO and Chief Financial Officer since January 2016 and as CFO from 2008 to 2016. To facilitate an orderly transition, Mr. Pfeffer will continue with the company in an advisory capacity until the end of July 2017. In addition, on May 25, 2017, Dr. Castagna was appointed to the board of directors of MannKind. Kent Kresa, Chairman of the Board, said, "The Board is extremely grateful to Matt for his committed service to the company over the past nine years. Matt successfully set the foundation for the company during its transition into a commercial entity and effectively prepared Michael to be his successor." Mr. Kresa continued, "Michael demonstrated deep commercial expertise in his prior role as MannKind's Chief Commercial Officer as he built the capabilities from the bottom-up necessary to position Afrezza and the company for future growth. Under Michael's leadership, new prescriptions of Afrezza have shown a steady increase since the MannKind launch and future prospects for this innovative product are strong. The Board is excited to move forward under Michael's leadership." Dr. Castagna said, "I am honored to lead MannKind into its next phase of growth. Our inhaled insulin, Afrezza, is a truly differentiated brand that will help millions of people suffering from diabetes. Our relentless focus on empowering people to conquer the daily struggle of managing their diabetes will set MannKind apart." Rose Alinaya, currently the company's Senior Vice President and Principal Accounting Officer, will take over the role of Acting Chief Financial Officer until a permanent CFO is named. Dr. Castagna said, "I am happy to have Rose in this position as I will benefit greatly from her 14 years of experience with MannKind. She will be a key asset for me as I take on my new role."
|
|
|
|
Post by cjm18 on May 30, 2017 8:09:14 GMT -5
Wow. Wow. Wow. So this is why mikes twitter went private I guess?
|
|
|
|
Post by avi8torslc on May 30, 2017 8:09:56 GMT -5
C YAH.....
|
|
|
|
Post by hans on May 30, 2017 8:10:49 GMT -5
WOW!!!!!!!! The catalyst has been lit. WooHoo....
|
|
|
|
Post by mnkdfann on May 30, 2017 8:14:32 GMT -5
No face-saving statement in the press release about how Matt is leaving to spend more time with his family?
|
|
|
|
Post by gamblerjag on May 30, 2017 8:14:49 GMT -5
investors.mannkindcorp.com/releasedetail.cfm?ReleaseID=1028218VALENCIA, Calif., May 30, 2017 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) (TASE:MNKD) announced today that its Board of Directors appointed Michael Castagna, Pharm.D., as Chief Executive Officer effective May 25, 2017. Dr. Castagna replaced Matthew Pfeffer, who served as both CEO and Chief Financial Officer since January 2016 and as CFO from 2008 to 2016. To facilitate an orderly transition, Mr. Pfeffer will continue with the company in an advisory capacity until the end of July 2017. In addition, on May 25, 2017, Dr. Castagna was appointed to the board of directors of MannKind. Kent Kresa, Chairman of the Board, said, "The Board is extremely grateful to Matt for his committed service to the company over the past nine years. Matt successfully set the foundation for the company during its transition into a commercial entity and effectively prepared Michael to be his successor." Mr. Kresa continued, "Michael demonstrated deep commercial expertise in his prior role as MannKind's Chief Commercial Officer as he built the capabilities from the bottom-up necessary to position Afrezza and the company for future growth. Under Michael's leadership, new prescriptions of Afrezza have shown a steady increase since the MannKind launch and future prospects for this innovative product are strong. The Board is excited to move forward under Michael's leadership." Dr. Castagna said, "I am honored to lead MannKind into its next phase of growth. Our inhaled insulin, Afrezza, is a truly differentiated brand that will help millions of people suffering from diabetes. Our relentless focus on empowering people to conquer the daily struggle of managing their diabetes will set MannKind apart." Rose Alinaya, currently the company's Senior Vice President and Principal Accounting Officer, will take over the role of Acting Chief Financial Officer until a permanent CFO is named. Dr. Castagna said, "I am happy to have Rose in this position as I will benefit greatly from her 14 years of experience with MannKind. She will be a key asset for me as I take on my new role." we got a bulldog for a ceo. I think that's a good thing |
|
|
|
Post by liane on May 30, 2017 8:14:56 GMT -5
WoW - didn't see that one coming.
|
|
|
|
Post by therealisaching on May 30, 2017 8:14:58 GMT -5
I dont view this as a catalyst. Say what you will about Matt, the company needs to deal with its Deerfield debt and complete a money raise somewhere.
If partnership deals with upfront money arent near completion the company doesnt have someone with a skillset to deal with these challenges. |
|
|
|
Post by madog365 on May 30, 2017 8:15:20 GMT -5
Very interesting, It honestly feels like Castagna has already been doing the CEO job the past year. As I've said - we really only heard from Matt once every quarter and that is NOT how a CEO (the face) of a company should be operating.
I'm happy the board finally did its job.
On the more speculative side it's interesting that two former Amgen execs are now leading Mannkind and with the CFO position open, i am interested to see if they bring in a third.
|
|
|
|
Post by peppy on May 30, 2017 8:15:27 GMT -5
investors.mannkindcorp.com/releasedetail.cfm?ReleaseID=1028218VALENCIA, Calif., May 30, 2017 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) (TASE:MNKD) announced today that its Board of Directors appointed Michael Castagna, Pharm.D., as Chief Executive Officer effective May 25, 2017. Dr. Castagna replaced Matthew Pfeffer, who served as both CEO and Chief Financial Officer since January 2016 and as CFO from 2008 to 2016. To facilitate an orderly transition, Mr. Pfeffer will continue with the company in an advisory capacity until the end of July 2017. In addition, on May 25, 2017, Dr. Castagna was appointed to the board of directors of MannKind. Kent Kresa, Chairman of the Board, said, "The Board is extremely grateful to Matt for his committed service to the company over the past nine years. Matt successfully set the foundation for the company during its transition into a commercial entity and effectively prepared Michael to be his successor." Mr. Kresa continued, "Michael demonstrated deep commercial expertise in his prior role as MannKind's Chief Commercial Officer as he built the capabilities from the bottom-up necessary to position Afrezza and the company for future growth. Under Michael's leadership, new prescriptions of Afrezza have shown a steady increase since the MannKind launch and future prospects for this innovative product are strong. The Board is excited to move forward under Michael's leadership." Dr. Castagna said, "I am honored to lead MannKind into its next phase of growth. Our inhaled insulin, Afrezza, is a truly differentiated brand that will help millions of people suffering from diabetes. Our relentless focus on empowering people to conquer the daily struggle of managing their diabetes will set MannKind apart." Rose Alinaya, currently the company's Senior Vice President and Principal Accounting Officer, will take over the role of Acting Chief Financial Officer until a permanent CFO is named. Dr. Castagna said, "I am happy to have Rose in this position as I will benefit greatly from her 14 years of experience with MannKind. She will be a key asset for me as I take on my new role." hmmm, this is a surprise. The biggest surprise is, "Mr. Pfeffer will continue with the company in an advisory capacity until the end of July 2017." |
|
|
|
Post by derek2 on May 30, 2017 8:20:08 GMT -5
Looks like I picked the wrong week to stop sniffing glue.
Shocking!
|
|
|
|
Post by kc on May 30, 2017 8:22:21 GMT -5
investors.mannkindcorp.com/releasedetail.cfm?ReleaseID=1028218VALENCIA, Calif., May 30, 2017 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) (TASE:MNKD) announced today that its Board of Directors appointed Michael Castagna, Pharm.D., as Chief Executive Officer effective May 25, 2017. Dr. Castagna replaced Matthew Pfeffer, who served as both CEO and Chief Financial Officer since January 2016 and as CFO from 2008 to 2016. To facilitate an orderly transition, Mr. Pfeffer will continue with the company in an advisory capacity until the end of July 2017. In addition, on May 25, 2017, Dr. Castagna was appointed to the board of directors of MannKind. Kent Kresa, Chairman of the Board, said, "The Board is extremely grateful to Matt for his committed service to the company over the past nine years. Matt successfully set the foundation for the company during its transition into a commercial entity and effectively prepared Michael to be his successor." Mr. Kresa continued, "Michael demonstrated deep commercial expertise in his prior role as MannKind's Chief Commercial Officer as he built the capabilities from the bottom-up necessary to position Afrezza and the company for future growth. Under Michael's leadership, new prescriptions of Afrezza have shown a steady increase since the MannKind launch and future prospects for this innovative product are strong. The Board is excited to move forward under Michael's leadership." Dr. Castagna said, "I am honored to lead MannKind into its next phase of growth. Our inhaled insulin, Afrezza, is a truly differentiated brand that will help millions of people suffering from diabetes. Our relentless focus on empowering people to conquer the daily struggle of managing their diabetes will set MannKind apart." Rose Alinaya, currently the company's Senior Vice President and Principal Accounting Officer, will take over the role of Acting Chief Financial Officer until a permanent CFO is named. Dr. Castagna said, "I am happy to have Rose in this position as I will benefit greatly from her 14 years of experience with MannKind. She will be a key asset for me as I take on my new role." hmmm, this is a surprise. The biggest surprise is, "Mr. Pfeffer will continue with the company in an advisory capacity until the end of July 2017." Need to get his Stock options for his service. Perhaps some news ahead. |
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on May 30, 2017 8:24:09 GMT -5
Was never a fan of Matt in the CEO role. He seemed like a nice guy and that's not what MNKD needed. IMO it comes down to two things
1) Matt did something to get fired (possibly Aegis) or something else
2) He quit and this the best way to keep the stock price from cratering.
It will be interesting to see how the market digest the news not PM
|
|
|
|
Post by factspls88 on May 30, 2017 8:25:04 GMT -5
Good news imo. Grateful to Matt for all he has done but it was time for a change to someone with the skill set to do the job.
|
|
|
|
Post by rockstarrick on May 30, 2017 8:26:02 GMT -5
investors.mannkindcorp.com/releasedetail.cfm?ReleaseID=1028218VALENCIA, Calif., May 30, 2017 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) (TASE:MNKD) announced today that its Board of Directors appointed Michael Castagna, Pharm.D., as Chief Executive Officer effective May 25, 2017. Dr. Castagna replaced Matthew Pfeffer, who served as both CEO and Chief Financial Officer since January 2016 and as CFO from 2008 to 2016. To facilitate an orderly transition, Mr. Pfeffer will continue with the company in an advisory capacity until the end of July 2017. In addition, on May 25, 2017, Dr. Castagna was appointed to the board of directors of MannKind. Kent Kresa, Chairman of the Board, said, "The Board is extremely grateful to Matt for his committed service to the company over the past nine years. Matt successfully set the foundation for the company during its transition into a commercial entity and effectively prepared Michael to be his successor." Mr. Kresa continued, "Michael demonstrated deep commercial expertise in his prior role as MannKind's Chief Commercial Officer as he built the capabilities from the bottom-up necessary to position Afrezza and the company for future growth. Under Michael's leadership, new prescriptions of Afrezza have shown a steady increase since the MannKind launch and future prospects for this innovative product are strong. The Board is excited to move forward under Michael's leadership." Dr. Castagna said, "I am honored to lead MannKind into its next phase of growth. Our inhaled insulin, Afrezza, is a truly differentiated brand that will help millions of people suffering from diabetes. Our relentless focus on empowering people to conquer the daily struggle of managing their diabetes will set MannKind apart." Rose Alinaya, currently the company's Senior Vice President and Principal Accounting Officer, will take over the role of Acting Chief Financial Officer until a permanent CFO is named. Dr. Castagna said, "I am happy to have Rose in this position as I will benefit greatly from her 14 years of experience with MannKind. She will be a key asset for me as I take on my new role." hmmm, this is a surprise. The biggest surprise is, "Mr. Pfeffer will continue with the company in an advisory capacity until the end of July 2017." The same time Hakens contract ends. |
|
