James S. Shannon Transitions to Chairman of the Board of Directors for MannKind
MannKind Corporation (Nasdaq: MNKD) has appointed James S. Shannon, M.D., as the new Chairman of the Board effective December 9, 2020. He succeeds Kent Kresa, who remains as a Board member and Chair of the Compensation Committee. Dr. Shannon brings over 20 years of pharmaceutical leadership experience, previously serving as Chief Medical Officer at GlaxoSmithKline and leading Pharma Development at Novartis. This leadership change aims to strengthen MannKind's focus on its pipeline and innovative therapies for endocrine and orphan lung diseases.
- Appointment of a new Chairman with extensive pharmaceutical leadership experience.
- Continuity in leadership with Kent Kresa remaining on the Board.
- Focus on advancing the pipeline and developing innovative medicines.
- Potential concerns regarding continuity with a change in leadership.
Kent Kresa, former Chairman, will continue to serve as a Director
WESTLAKE VILLAGE, Calif., Dec. 10, 2020 (GLOBE NEWSWIRE) -- MannKind Corporation (Nasdaq: MNKD) today announced that James S. Shannon, M.D., MRCP (UK) has been named the new Chairman of the Board of Directors effective December 9, 2020. Kent Kresa, the former Chairman of the Board, will continue to serve on MannKind’s Board of Directors and as Chair of the Compensation Committee of the Board.
“Kent has done an incredible job leading the Board – as Chairman for the last four years and as Lead Independent Director for an additional five years prior to that,” said James Shannon. “As Al Mann’s successor, Kent helped continue Al’s mission of addressing the unmet needs of patients with diabetes and other serious illnesses. Since joining the Board in 2004, Kent has contributed significantly to the Company's progress and he will certainly continue to do so. We are grateful for his leadership and we look forward to continuing to benefit from his experience.”
Dr. Shannon served on the Board from February 2010 until April 2012 then rejoined the Board in May 2015. Dr. Shannon is a recognized pharmaceutical industry leader with more than 20 years of experience in senior leadership positions. He served as the Chief Medical Officer for GlaxoSmithKline from 2012 -2015 and prior to this, served as Global Head of Pharma Development for Novartis AG based in Basel, Switzerland. Dr. Shannon is trained in Medicine and Cardiology and received his undergraduate and postgraduate degrees at Queen's University of Belfast and is a Member of the Royal College of Physicians (UK). He currently serves on the boards of several companies including Horizon Therapeutics, Kyowa Kirin, Immodulon Therapeutics Limited, ProQR Therapeutics NV, and myTomorrows.
"I would like to thank Kent for our partnership during my time with MannKind,” said Michael Castagna, Chief Executive Officer of MannKind. “He has been a great mentor, for which I will be forever thankful. Having James as Kent’s successor speaks to the caliber of our Board. James’ keen insight and leadership experience in the pharmaceutical industry will be invaluable as we continue to advance the pipeline and focus on developing innovative medicines for both endocrinology and orphan lung diseases."
About MannKind Corporation
MannKind Corporation (Nasdaq: MNKD) focuses on the development and commercialization of inhaled therapeutic products for patients with endocrine and orphan lung diseases. MannKind is currently commercializing Afrezza® (insulin human) Inhalation Powder, the Company’s first FDA-approved product and the only inhaled ultra rapid-acting mealtime insulin in the United States, where it is available by prescription from pharmacies nationwide. MannKind is headquartered in Westlake Village, California, and has a state-of-the art manufacturing facility in Danbury, Connecticut. The Company also employs field sales and medical representatives across the U.S. For further information, visit www.mannkindcorp.com.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Words such as "believes," "anticipates," "plans," "expects," "intends," "will," "goal," "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon MannKind's current expectations. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties detailed in MannKind's filings with the SEC. For a discussion of these and other factors, please refer to MannKind’s annual report on Form 10-K for the year ended December 31, 2019 as well as MannKind’s other filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and MannKind undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.
Company Contact:
818-661-5000
ir@mannkindcorp.com
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