Alexion loses CEO & CFO as internal investigation continues
Alexion Pharmaceuticals has revealed that its CEO David Hallal (pictured) and CFO Vikas Sinha have resigned effective immediately in connection with an internal investigation into improper sales practices, after reportedly having lost the confidence of the company’s board.
The investigation was opened in November this year after a former employee levied allegations of illegitimate sales practice against the company regarding its blood disorder drug Soliris. While concrete details are still scarce, Alexion has stated that the investigation is coming to a close and no illicit actions have been found which would require it to restate its historical financial results.
The company has stated that Hallal left due to “personal reasons”, with board member David Brennan stepping up as interim CEO.
Brennan has previously served as chief executive of AstraZeneca; he said in a statement: “This transition comes at a time of great strength and momentum in Alexion’s business. When the board asked me to become interim CEO, I did so without hesitation because I believe strongly in this company and its mission to serve patients with breakthrough medical innovation and life-transforming therapies.”
The company has announced that the role of CFO will be filled by David Anderson, former CFO at Honeywell International, as Sinha leaves, according to the firm, to “pursue other opportunities.”
The firm has enlisted the aid of Spencer Stuart to identify permanent replacements for the vacated roles.
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