Theravance has announced that Michael W. Aguiar will replace Rick E Winningham as President and CEO effective August 15, 2014. Winningham will become CEO of Theravance Biopharma full time and will continue as Chairman of the Board of Directors of Theravance, Inc. Aguiar, who is currently Senior VP and Chief Financial Officer, joined Theravance in 2005 and led the spin-off of Theravance Biopharma from Theravance.
Aguiar commented, “I am proud to have worked at Theravance with Rick over the past nine years with the goals of bringing important new medicines to patients, implementing unique strategies to create stockholder value, and developing an exceptionally talented finance organization. Looking forward, we will work closely with GSK with the goal of maximizing the value of the respiratory programs partnered with GSK, focus on reducing Theravance’s overall cost of capital, and build a royalty management business with the goal of providing returns to our stockholders.”
Winningham said, “I would like to congratulate Mike on his well-deserved appointment to President and Chief Executive Officer and member of the Board of Directors of Theravance, Inc., which is a tribute to his ability to successfully lead and execute. I look forward to working with him in my role as Chairman with the goal of building a company focused on generating returns for our stockholders. Over the last twelve years, the Theravance and GSK partnership has worked together to bring two important medicines, Relvar/Breo and Anoro Ellipta, to the global respiratory market and are working on a pipeline of other important potential respiratory medicines still in development. I would like to extend my gratitude to the Theravance and GSK teams for their support, dedication and commitment to bringing important medicines to patients in need.”
Read the Theravance press release.
