Unilife (NSDQ:UNIS) said today that chairman & CEO Alan Shortall and president & COO Ramin Mojdeh are out, effective immediately, as it reorganizes to focus on its revenue-generating programs with existing customers.
Unilife, which finally sealed the deal with Amgen last month for an injectable drug delivery system, said it will create a pair of new business units: Wearable & auto-injectors and pre-filled syringes.
General counsel, secretary & SVP John Ryan will serve as interim CEO while York, Pa.-based Unilife looks for a replacement for Shortall.
“I am proud of the many achievements of our team, which strongly position Unilife for global success,” Shortall said in prepared remarks. “Unilife has the focus, capabilities and talent to successfully execute this new stage of growth, where the pursuit of efficient operations and profitability will be strategic priorities. I am grateful to have been able to see my vision through to this day, and I remain available to Unilife as a consultant as the company takes important steps to reach the next level.”
Unilife said it also named vice chair and lead independent director Mary Kate Wold as chairwoman; Wold is slated to head an executive leadership team comprised of Ryan; CFO & SVP David Hastings; wearable injector & auto-injector general manager & SVP Ian Hanson; and Michael Ratigan, chief commercial officer & SVP.
“We are grateful to Alan and Ramin for their extraordinary vision and passion,” Wold said. “As founder and long-term CEO of Unilife, Alan has been a critical part of Unilife’s achievements to-date and the Company has benefited from his perseverance, enthusiasm and leadership. Ramin’s leadership in developing industry-leading technology and bringing together a highly-talented and innovative team has positioned Unilife for future success.
“John, Dave, Ian and Mike have been strong and effective leaders for Unilife, with excellent industry and business experience. They are supported by an outstanding senior management team with deep industry experience and a proven track record of success at Unilife,” Wold added. “With their collaborative leadership, we anticipate that this time of transition will be seamless for our customers, employees and investors.”
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