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Gilead's CEO and Chairman to both step down before year's end

Published on 26/07/18 at 09:58am
Image Credit: Gilead

Gilead has announced that its President and Chief Executive Officer Dr John Milligan (pictured) will be stepping down by the end of the year, ending his run of 28 years at the company. He will remain in the role while the Board of Directors searches for a successor.

Alongside him, it has also been revealed that Chairman Dr John Martin will also be leaving the company. He has said he will vacate his position on the Board when a replacement CEO has been found.

Both men joined the company in 1990, and Dr Milligan stepped up to the plate as CEO in 2016, replacing Dr Martin who had served in the position for 20 years since 1996, before then becoming Chairman of the company’s Board.

“It has been an honour to work at Gilead for my entire professional career and, now that the company is on solid footing for the future, the Board and I have agreed it is a good time to turn the reins over to a new leader,” said Dr Milligan. “I’m looking forward to a well-deserved break and will then move on to new and different opportunities.”

Dr Martin also remarked: “Today, Gilead has the right strategy in place to successfully execute on its mission of improving the lives of people with some of the world’s most serious diseases, led by a robust HIV franchise, an industry-leading cell therapy platform and a late-stage pipeline in NASH and inflammation. Moreover, we have the resources to continue investing in and expanding our strong R&D pipeline, which remains paramount to our success. We are excited about our growth potential, and intend to hire a CEO who will build on the foundation that John Milligan has put in place and execute on our ambitious goals for the future.”

Dr John Cogan, Lead Independent Director on Gilead’s Board of Directors, said of the news: “On behalf of the entire Board, I want to thank John Milligan for his countless contributions to Gilead over nearly 30 years, and commend him for operating throughout his career with the highest personal and professional integrity. Given his longstanding dedication to Gilead, it is no surprise that John is committed to facilitating a seamless transition for all of our stakeholders, as we work to identify his successor.”

Matt Fellows

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