Duane DeSisto
Valencia biomed MannKind Corp. announced Monday that it has withdrawn its offer to employ Duane M. DeSisto as its President and Chief Executive Officer as a consequence of objections raised by Insulet Corp., the former employer of DeSisto, that the employment of DeSisto by MannKind would violate Insulet’s non-competition agreement with DeSisto, which is in effect until Sept. 17, 2016. As a result, DeSisto will not join MannKind as an officer and director, as previously announced.
The board of directors of MannKind appointed Matthew J. Pfeffer as Chief Executive Officer of MannKind, effective Jan. 10, 2016, replacing Alfred Mann who has been serving as interim CEO since November 19, 2015. Mr. Pfeffer will continue to serve as the Chief Financial Officer of MannKind. He was also appointed to fill an existing vacancy on the board of directors, effective January 10, 2016.
“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,” said Kent Kresa, Lead Director of MannKind Corporation. “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.”
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3 Comments
I thought noncompetes were uninforceable in California
Ditto. Strange.
So why is he laughing with that stupid smirk on his face ….?