Alexion secures ex-Biogen Chief Financial Officer
Alexion Pharmaceuticals has announced that it has snatched up Biogen’s long-serving Chief Financial Officer Paul Clancy and will instate him as its own CFO on July 31.
Clancy had worked with his previous company for 16 years, acting as CFO for 10 of them. Before his tenure with Alexion, he served at an executive level in a number of roles at PepsiCo. He will work through the remainder of the second quarter at Biogen, at which point the firm’s Chief Accounting Officer Greg Covino will take on the role in an interim capacity while a replacement is found.
Meanwhile, Alexion’s current CFO Dave Anderson will become a senior advisor to new CEO Ludwig Hantson, before leaving the company at the end of August. The firm originally made the announcement that its CEO and CFO would leave back in December, resulting in its shares falling to their lowest point in three and a half years.
It is thought that Clancy’s appointment is a move by Hantson to regain the trust of Alexion’s investors after a series of blows over the past months including an investigation into the sales practice for its flagship blood disorder drug Soliris, valued at $480,000 per year.
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