d8v1nc1 schreef op 26 juli 2018 19:18:
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Gilead Sciences on Wednesday said its chief executive John Milligan will step down at the end of the year, having taken the helm less than two and a half years ago.
Mr Milligan has been at the biotech company for 28 years and was promoted to the top job in 2016. He will stay on at the company through the year end as the board conducts a search to identify his successor.
“The board and I have agreed it is a good time to turn the reins over to a new leader,” said Mr Milligan in a statement. “I’m looking forward to a well-deserved break and will then move on to new and different opportunities.”
Mr Milligan will also step down from the board at the end of the year. The company said that chairman John Martin will also depart from the board when the new chief executive joins the company.
“Our view, is this is probably a board decision (and not necessarily CEO decision given comments say he will be taking a break) to invigorate the company and to bring on fresh leadership to turn Gilead from pharma-like, to more Biotech-like,” said Michael Yee, an analyst at Jefferies.
The news of Mr Milligan’s exit overshadowed a smaller than expected drop in second-quarter revenues and upbeat adjusted earnings.
Shares in Gilead, which are up 10 per cent year-to-date, were down 2.4 per cent in extended trade.