Welcome to this week's Chutes and Ladders, our roundup of hirings and retirings throughout the industry. Please send the good word--or the bad--from your shop to Michael Gibney (email | Twitter) or Amirah Al Idrus (email | Twitter), and we will feature it here at the end of each week.
MannKind COO Hakan Edstrom appointed CEO after founder steps down
MannKind ($MNKD) announced that Hakan Edstrom has been promoted to company CEO. On Monday, former CEO and founder Alfred Mann announced his retirement and will begin transitioning to his new role as executive chairman. Edstrom has served as president and COO of MannKind since 2001. In a statement, Edstrom said he is honored to succeed Mann and that he is "truly excited to lead MannKind at this critical juncture." Prior to his work at MannKind, Edstrom was employed at Bausch & Lomb and Pharmacia. Throughout his career spanning nearly 6 decades, Mann founded and largely funded 14 companies, 9 of which were acquired at a total of nearly $8 billion. Three became publicly traded, including MannKind. Release
Keryx COO Greg Madison begins transition to CEO
Greg Madison, who joined the company in February 2014 as COO, was named the incoming CEO of Keryx Biopharmaceuticals ($KERX) on Monday. Madison will replace Ron Bentsur--who has served as the company's CEO for the past 5 years--after Bentsur's contract ends in May. Before joining Keryx, Madison served as executive vice president and COO of AMAG Pharmaceuticals and spent 12 years at Genzyme/Sanofi ($SNY), including a stint as general manager of that company's renal division. "With an exceptional team in place, a truly differentiated product, and a deep-rooted commitment to the renal community, I am confident that we will build a leading renal franchise, delivering value to all stakeholders--patients, physicians, providers, employees and our shareholders," Madison said in a statement. Release