MannKind Corporation has appointed Matthew J. Pfeffer as CEO effective January 10, 2016, replacing Alfred Mann. In November 2015, Mann temporarily resumed his role as CEO after Hakan Edstrom stepped down. On January 5, 2016, MannKind announced that Sanofi would return the rights to its Afrezza inhaled insulin and that it was considering options for the product.
The company had said that former Insulet CEO Duane M. DeSisto would take over as its CEO, but the offer was withdrawn after Insulet objected that the appointment would violate a non-compete agreement that is in effect until September 2016. Pfeffer was previously MannKind’s Corporate VP and Chief Financial Officer.
MannKind Lead Director Kent Kresa commented, “Matt has been a valuable member of the executive management of MannKind for many years and has been instrumental in
managing our transition to a commercial stage operation. He understands the strategic and financial challenges that we face at this very important time for our company and has already begun to pursue a number of solutions.”
Read the MannKind press release.
