New chief exec at MannKind
The board of directors of MannKind have appointed Matthew Pfeffer as chief executive of MannKind.
He replaces Alfred Mann who has been serving as interim chief executive since November. Pfeffer will continue to serve as the chief financial officer of MannKind, and will also fill an existing vacancy on the board of directors.
It means that MannKind has withdrawn its offer to employ Duane DeSisto as its president and chief executive – as a consequence of objections raised by Insulet, the former employer of Mr DeSisto. Insulet had argued that Mr DeSisto’s employment by MannKind would violate its non-competition agreement with Mr DeSisto, which is in effect until September 17. As a result, Mr DeSisto will not join MannKind as an officer and director, as previously announced.
“Matt has been a valuable member of the executive management of MannKind for many years and has been instrumental in managing our transition to a commercial stage operation,” says Kent Kresa, lead director of MannKind Corporation. “He understands the strategic and financial challenges that we face at this very important time for our company and has already begun to pursue a number of solutions.”
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