Athersys Announces CEO Transition
Athersys, Inc. (Nasdaq: ATHX) announced the immediate resignation of Dr. Gil Van Bokkelen as Chairman and CEO. William (B.J.) Lehmann, the current President and COO, has been appointed as Interim CEO. The Board is initiating a search for a permanent CEO to guide the company through its commercial phase. Dr. Ismail Kola has become Chairman of the Board. Athersys is advancing its late-stage clinical programs, including trials in Japan, and is preparing for key data readouts and a go-to-market strategy for its MultiStem product. The scheduled Virtual Investor Day has been postponed.
- Transition to experienced Interim CEO B.J. Lehmann may provide stability.
- Advancing late-stage clinical programs and preparing for commercialization of MultiStem.
- Leadership change could create uncertainty during the transition period.
- Postponement of Virtual Investor Day may impact investor communication.
Athersys, Inc. (Nasdaq: ATHX), a regenerative medicine company developing MultiStem® cell therapy, today announced that Dr. Gil Van Bokkelen has stepped down as Chairman and Chief Executive Officer, effective immediately. The Athersys Board has appointed William (B.J.) Lehmann, the Company’s President and Chief Operating Officer, as Interim Chief Executive Officer. Dr. Ismail Kola, Lead Director of the Athersys Board, has been appointed Chairman of the Board.
The Company’s Board is commencing a comprehensive search process to identify a permanent CEO. The Board intends to identify and select a CEO who can guide Athersys in the commercial stage.
“On behalf of the Board and everyone at Athersys, I want to thank Gil for his valuable contributions and years of service since co-founding Athersys in 1995,” said Dr. Ismail Kola, Chairman of the Athersys Board. “During Gil’s tenure, Athersys successfully established a portfolio of therapeutic product development programs to address significant unmet medical needs across several disease areas that represent substantial commercial opportunities. His vision, energy, tenacity and leadership have been critical for building Athersys into the leader in regenerative medicine it is today, and we wish him all the best in his future endeavors.
Dr. Kola continued, “As we advance our late-stage pipeline and lay the groundwork for commercialization of our MultiStem product, Gil and the Board have mutually determined that now is the right time to transition to the next generation of leadership to help drive the Company forward and position Athersys for long-term growth and success. Over the last several years, Athersys has made significant progress across our clinical programs and commercial readiness activities, and we remain excited about the future of Athersys and the potential for MultiStem to improve the lives of millions of patients globally. With two important clinical trials nearing completion in Japan in partnership with Healios, for which results are expected in 2021, and several of our own clinical studies, including our lead ischemic stroke program, we remain focused on preparing for important top-line data readouts and on developing our go-to-market strategy for MultiStem.”
“It’s been a privilege to lead Athersys, and I am proud of all that we have accomplished together,” said Dr. Van Bokkelen. “Athersys has a wealth of talent and some of the best and most knowledgeable employees in the regenerative medicine space, and I am confident that the Company’s future is bright and remains in good hands under experienced leadership as the Board identifies the right person to guide the Company through commercial launch. I look forward to following the Company’s exciting progress.”
Dr. Kola concluded, “We have great confidence in the strong executive management team that will be continuing to lead the company, consisting of B.J.; John Harrington, Executive Vice President and Chief Scientific Officer; and, Ivor Macleod, Chief Financial Officer. All three are seasoned executives with decades of leadership and operational experience. We appreciate that BJ has agreed to step into the role of Interim CEO while we search for a permanent successor. B.J., John and Ivor have made significant contributions to Athersys, and we are confident that it will be a seamless transition as we continue our evolution into a commercial company.”
Mr. Lehmann said, “I am grateful for the opportunity to have worked with Gil over the years and eager as Interim CEO to carry forward with the Company’s mission to develop the leading cell therapy company while addressing substantial unmet needs in large markets. I, John and Ivor look forward to working alongside the Company’s outstanding Board and management team to advance Athersys on our road to commercialization. We have great confidence in the Company’s strategic plan and in the many opportunities we have ahead of us to deliver value for both patients and shareholders.”
In light of today’s news, the Company’s Virtual Investor Day, which was scheduled for today, has been postponed and will be rescheduled at a later date.
About William (B.J.) Lehmann, JD
Mr. Lehmann has worked with Athersys since 2001 and has served as the Company’s President and Chief Operating Officer since June 2006. He has been involved in all aspects of the Company’s operations over the
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