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Jason Cole, Chief Strategy and Financial Officer, to Depart bluebird bio This Fall
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Rhea-AI Summary
bluebird bio (NASDAQ: BLUE) announced that Jason Cole, Chief Strategy and Financial Officer, will leave the company on October 14, 2022, to pursue new opportunities after 8.5 years. During his tenure, he played pivotal roles and helped stabilize the company’s financial position. Katherine Breedis will serve as interim CFO as an external search for a permanent replacement begins. The announcement highlights the significance of leadership transitions at bluebird as it aims to enhance its commercial stage operations and continue its focus on gene therapies.
Positive
Successful transition of finance responsibilities to an experienced interim CFO, Katherine Breedis.
Jason Cole's leadership helped stabilize bluebird's financial position during a critical period.
Negative
Leadership change may introduce uncertainty in financial management and strategic direction.
Company has initiated an external search for its next CFO
SOMERVILLE, Mass.--(BUSINESS WIRE)--
bluebird bio, Inc. (NASDAQ: BLUE) today announced that Jason Cole, Chief Strategy and Financial Officer, plans to leave bluebird bio to pursue new career opportunities.
Throughout his 8.5 years at bluebird, Mr. Cole has held multiple roles including General Counsel/Chief Legal Officer (2014-2019), Chief Operating & Legal Officer (2019-2021) and Chief Business Officer (2021-2022). Throughout his tenure, Mr. Cole helped guide bluebird’s evolution from a small clinical stage biotech to a commercial company and has helped bluebird navigate periods of tremendous change.
In March 2022, Mr. Cole was appointed Chief Strategy and Financial Officer at a critical juncture for the company. He led changes to stabilize the Company’s financial position and strengthen its balance sheet. Since that time, he has also served as Principal Financial Officer and Principal Accounting Officer.
“Jason is the quintessential bluebird – with a deep commitment to the patients and families we aspire to treat, to our business, and to the culture that makes bluebird so unique,” said Andrew Obenshain, CEO, bluebird bio. “We are extremely grateful to Jason for stepping in as CFO during a difficult time for the company. His experience and thoughtful approach have been a stabilizing force through a period of significant change. Under Jason’s leadership, we have solidified our financial position and financing plans and have laid the foundation to operate as a commercial company.”
Over the coming weeks, Mr. Cole intends to transition finance responsibilities to Katherine Breedis, an experienced business and financial executive from Danforth Advisors, who is expected to serve as interim CFO. bluebird has initiated an external search for its next CFO, with a focus on experience with commercial stage companies. Mr. Cole’s management responsibilities for strategy, external affairs and operations will be transitioned to Andrew Obenshain.
Mr. Cole’s last day will be October 14, 2022; he expects to continue to consult with bluebird on corporate strategy through April 2023.
About bluebird bio, Inc.
bluebird bio is pursuing curative gene therapies to give patients and their families more bluebird days. With a dedicated focus on severe genetic diseases, bluebird has industry-leading clinical and research programs for sickle cell disease, beta-thalassemia and cerebral adrenoleukodystrophy and is advancing research to apply new technologies to these and other diseases. We custom design each of our therapies to address the underlying cause of disease and have developed in-depth and effective analytical methods to understand the safety of our lentiviral vector technologies and drive the field of gene therapy forward.
Founded in 2010, bluebird has the largest and deepest ex-vivo gene therapy data set in the world—setting the standard for industry. Today, bluebird continues to forge new paths, combining our real-world experience with a deep commitment to patient communities and a people-centric culture that attracts and grows a diverse flock of dedicated birds.
bluebird bio Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements that are not statements of historical facts are, or may be deemed to be, forward-looking statements, including but not limited to our statements regarding the timing for recruiting and integrating a permanent CFO, the intention to engage Katherine Breedis as an interim CFO, and the expectation that Jason Cole will continue to consult for the Company. Such forward-looking statements are based on current expectations about our future goals, plans and objectives and involve inherent risks, assumptions and uncertainties, including internal or external factors that could delay, divert or change any of them in the next several years, that are difficult to predict, may be beyond our control and could cause our future financial results, goals, plans and objectives to differ materially from those expressed in, or implied by, the statements. No forward-looking statement can be guaranteed. Forward-looking statements in this press release should be evaluated together with the many risks and uncertainties that affect bluebird bio’s business, particularly those identified in the risk factors discussion in bluebird bio’s Annual Report on Form 10-K, as updated by our subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission. The forward-looking statements included in this document are made only as of the date of this document and except as otherwise required by applicable law, bluebird bio undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise.
