risk analysis, page-17

Morfeuz "The other point of encouragement is that the new Chairman is highly credible within the industry from a global perspective. He is not a light weight and by taking this position he has to be fairly confident it isn't going to fall apart within 6 months (not good on his CV). the timing of his placement is pivotal in my opinion."

Strongly endorse this observation.

I had no previous knowledge of Sandy Costa but based on what is publically available I'd make the following observations:

1. He has seriously broad and deep knowledge of the biotech and pharma industry. Hard to rival the experience and exposure he has had in the roles with Glaxo and Quintiles. You could draw a reasonable deduction that he has nothing to prove in this space. He is also has a very broad range of current (and, importantly, post-executive) professional roles (on boards, university roles, law firms etc)

2. he appears to have a very strong set of values that lead him to consider how his decisions affect other people. Whatever you think of these values, for me this form of self awareness translate directly into the issue of 'motivation' ... is it about him ($$, kudos and recognition, power)? Or is it about making a difference, the challenge, impact on the lives of patients, staff and shareholders? I think it is the latter.

3. nothing in the publically available info suggests that Sandy was looking for this gig (ie ACL did not land Sandy Costa through a job ad on seek.com.au!!!). Rather he was probably the result of an extensive head hunt where the first task is to sell the 'opportunity' to candidates who are often not actually looking for the gig.

4. The US biotech and pharma industry are Sandy's patch ... nothing suggests anything other than Sandy being brought in for a business whose future lies in the US.


Short story ... an extremely well connected and credential industry and thought leader, whose primary motivations appear to be to add value and make a difference (well aligned with LT holder interests), who already has a stack of activities on his plate, has bought into an aussie biotech story and agreed to be the public face of the business in the US.

what's not to like?