Sangamo Therapeutics Announces Departure of Chief Financial Officer Sung Lee

Rhea-AI Summary

Sangamo Therapeutics (Nasdaq: SGMO) announced the departure of Chief Financial Officer Sung Lee, effective February 1, 2021, as he pursues an opportunity overseas. CEO Sandy Macrae praised Lee's significant contributions in strengthening the company's financial position, which supports its strategic initiatives in genomic medicine. The management team will begin the search for a new CFO. Lee expressed pride in his role at Sangamo, highlighting the company's readiness to execute its strategy.

Positive

• Strengthened cash position under Sung Lee's CFO tenure.
• Strong management team's commitment to ongoing strategic initiatives.

Negative

• Departure of CFO may create short-term uncertainty in financial management.

Sangamo Therapeutics, Inc. (Nasdaq: SGMO), a genomic medicine company, announced today that Chief Financial Officer Sung Lee is leaving the Company to pursue a new opportunity overseas. Mr. Lee’s last day of employment will be February 1, 2021.

“Sung has contributed significantly to Sangamo’s evolution, helping us build a strong cash position to advance proprietary medicines for patients in need as we begin a year with several potential catalysts,” said Sandy Macrae, Chief Executive Officer of Sangamo. “I have deep appreciation for the integrity and leadership Sung brought to Sangamo. The management team and board of directors at Sangamo join me in wishing him the very best as we initiate our search for a new CFO.”

“It has been a privilege to work with Sandy and the Sangamo team to advance the innovative field of genomic medicine, and I believe the company is well positioned to execute on its strategy,” said Mr. Lee.

About Sangamo Therapeutics

Sangamo Therapeutics is committed to translating ground-breaking science into genomic medicines with the potential to transform patients’ lives using gene therapy, ex vivo gene-edited cell therapy, and in vivo genome editing and genome regulation. For more information about Sangamo, visit www.sangamo.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210106005808/en/

FAQ

Who is leaving Sangamo Therapeutics and when?

Chief Financial Officer Sung Lee is leaving Sangamo Therapeutics, with his last day being February 1, 2021.

What did CEO Sandy Macrae say about Sung Lee's departure?

CEO Sandy Macrae acknowledged Sung Lee's significant contributions and expressed appreciation for his leadership.

What is Sangamo Therapeutics focused on?

Sangamo Therapeutics is focused on genomic medicine, employing gene therapy and genome editing technologies.

Is there a new CFO appointed at Sangamo?

Sangamo Therapeutics has initiated a search for a new Chief Financial Officer following Sung Lee's departure.