I had been waiting for the day we got a new CEO for many years.
Not because I was unhappy but because changing the CEO can be when a company changes phases ie, in this case when it believes it's going from solely R&D to now an R&D with a commercial phase incoming.
Our previous CEO was the person to steer the ship when we were looking for potential product developments, ones that could have high prospects of being successful in our rare disease category that we are in.
His skill set was to grow and then maintain a team to research and forward the potential products, and therapeutics, to a pre-commercialisation stage.
And the overriding criteria during this time, were to remain viable, and to be funded for long enough to inspire confidence in potential investors, and in this case, Platinum, but it could have been anyone.
CEOs often, and in particular aren't seen as masters of everything, skillsets can be specific, and not necessarily broad, it's hard to be good at everything.
If you read enough articles about CEOs you should see that a CEO that gets a company to pre commercialisation will often move on and make way for a CEO that has more specific skills in
commercialisation.
It must be remembered that a CEO that is potentially specific to Commercialisation and growth, isnt necessarily great at the slow hard task of creating a company and keeping it alive when there is no product, no income, and very little investor confidence.
So, MD for me did what I hoped he would do, which was grow a product line in a company that remained viable and then prepared to transition the company to the next phase.
All the people that are there today, currently, are the result of Mark Diamond and fellow Directors.
I dont know, only internal people would know, but he may have also been involved in the last person brought in, our new CEO.
So I don't think it was likely Diamond was asked to step aside, I think it is most likely it was part of the pre planned scenario for when the time came.
The previous Chairman and the Directors are all involved in strategy and planning, and they, like most companies, have plans and strategies for when a company grows.
You ask what changed behind the scenes, that potentially was strong confidence in a successful regulatory approval based on a product that shows event signifigance of a positive nature, better than other available products.
Our previous Chair transitioned, from CSL to a new CSL person, and then the previous CSL people brought in more CSL people.
Who do you think brought the Chair.
The requirements of a company change when change comes to a company, good people know that their role isn't for life, you do your best at what your are good at then let the next people do what they're good at.
If anyone thinks Sarepta had no communications with anyone at ANP, particularly since our Director has strong connections, then you have a very unusual perception of how business works, because communications are ongoing all over the place.
BCA, i had expected Diamond to move on for years, i mean I have read in various places this is the MO of changing of the phases, so for the reason I have expressed I don't consider the malevolent attitudes here towards Diamond are correct.
Expand
