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Celgene leadership changes spark succession speculation

Movement at biotech includes promotions for Mark Alles and Jacqualyn Fouse

CelgeneCelgene has reorganised and expanded its senior leadership team in a move seen by some as edging two of its senior executives towards an eventual run-off for the CEO's job.

From August, 1 Mark Alles will move to president and chief operating officer and Jacqualyn Fouse will become president haematology and oncology, the business unit Alles currently heads up.

Alles has spent 10 years at Celgene while Fouse has spent the last four years as Celgene's chief financial officer.

Current CEO Bog Hugin has held the role for four years and has been with the company since 1999, but at least one analyst sees the changes as part of a long-term succession plan.

Calling the changes “curious”, Wells Fargo analyst Brian Abrahams said in a note: “Our sense was that while chairman/CEO Bob Hugin does not have any plans to retire near term, the promotions better position either Jackie Fouse or Mark Alles to assume the CEO role over the long term by enhancing their broader corporate responsibilities.”

Announced alongside Alles and Fouse's new roles were two other senior changes at Celgene, including the promotion of Scott Smith to president of its Inflammation and Immunology unit, which he has led since 2009.

The company has also appointed Peter Kellogg as chief financial officer with effect from August, 1. He joins the company on July, 1 from Merck & Co, where he was CFO and prior to that held the role of CRO and executive vice president of finance at Biogen Idec.

"These changes strengthen and expand our leadership team and position us to best capitalise on the strategic and operational opportunities in the years ahead," said Bob Hugin, chairman and chief executive officer.

27th May 2014

From: Research, Sales, Marketing

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