Biogen Inc (NASDAQ: BIIB) appears to be facing issues related to its executive team. The firm this morning indicated that two long time directors of the company will be retiring from their positions. The retirements follow another key retirement announced just two months ago.
The firm this morning indicated that both Nancy Leaming and Brian Posner will be retiring from the board and not seeking re-election at the next annual meeting of stockholders. Both have been members of the board since 2008.
Leaming is currently experienced in the insurance space, having served as the CEO of Tufts Health Plan. She served as a member of the Audit Committee for Biogen.
Posner meanwhile served as Chair of the firms Compensation Management and Development Committee. He came to the firm as the founder and managing partner of Point Rider Group.
Reasons for their departures were not provided by the company.
The announcement follows the recent retirement of Alfred W Sandrock Jr, whom was the firms Head of Research & Development. He retired at the end of 2021, after having served 23 years with the company, with his career seeing him lead the development of five key therapies development by the company, including the controversial Aduhelm. His retirement follows an “open letter” published under his name to provide further clarity of the Aduhelm drug to enable patients to “make informed decisions” related to its use.
Biogen last traded at $225.21 on the Nasdaq.
Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
