James Mullen (CEO) explained

James C. “Jim” Mullen (born ca. 1958) is an American business executive. He is the executive chairman at genome editing company Editas Medicine since 2018, where he also served as CEO between 2021 and 2022.[1] [2] [3] He was formerly the president and CEO of Biogen Idec until he retired effective June 8, 2010.[4] At the same time, he started he would retire from the board at the end of his term.[5] In 2011, he was named CEO to drug manufacturer Patheon, based in Durham, North Carolina, as well as to their board.[6] [7] He stayed there until August 29, 2017.

Education

Mullen has a Bachelor of Science in chemical engineering from Rensselaer Polytechnic Institute and a Master of Business Administration from Villanova University.[8] He has been a trustee at Villanova since 2001.

Biogen

Mullen began his tenure at Biogen in 1992 and worked his way up the ladder. In 1992, he became the VP of Operations followed by VP international in 1996. Mullen became COO and president in 1999 and CEO in 2000. In 2000, he became CEO of Biogen Idec. His tenure as CEO has been described this way: "Although the firm flourished in the early part of his tenure, it has struggled more recently to coax new products from its pipeline. In a May proxy filing, Carl Icahn noted that Mullen was paid $60.8 million in total compensation, combining salary, bonus, and stock options over the preceding five years, while Biogen’s stock declined from $66.61 to $47.63 [40% in value] in that time." In 2005, the last time they brought a new drug to market (multiple sclerosis treatment Tysabri). Tysabri was "quickly pulled from the market after it was linked to a life-threatening brain infection in a handful of patients". When it returned in 2008, it brought in $589 million which was far less than anticipated. This led to Carl Icahn, an activist investor, demanding changes as he tried to gain more control over the board.[9] [10]

References

  1. News: LaVito . Angelica . December 10, 2021 . Editas Chief Playing 'Long Game' as Gene-Editing Competition Grows . Bloomberg News.
  2. News: Saltzmann . Jonathan . February 8, 2021 . Former head of Biogen takes over as CEO of the gene-editing company Editas . The Boston Globe.
  3. Web site: Armstrong . Annalee . July 19, 2022 . Gilmore O'Neill picked a bad time to become a biotech CEO. He's confident Editas has the goods . Fierce Biotech.
  4. Web site: Xconomy: Biogen Idec CEO Jim Mullen Stepping Down, After Tumultuous Year of Shareholder Activism. 2010-01-04. Xconomy. en. 2020-02-06.
  5. News: Chief of Struggling Biotech Company, Biogen Idec, to Retire. 14 January 2018. NY Times. January 4, 2010.
  6. News: Chen. Monica. Former Biogen Idec CEO Mullen to lead Patheon. 14 January 2018. Triangle Business Journal. February 7, 2011.
  7. News: Gryta. Thomas. Biogen Cuts a Deal With Icahn. 14 January 2018. WSJ. March 22, 2010.
  8. Web site: Pantheon Profile. Pantheon. 14 January 2018.
  9. News: Jarvis. Lisa M.. Biogen Idec's CEO To Retire Biotechnology: James Mullen will leave as the company grapples with a stagnant pipeline. 2. Chemical & Engineering News. January 11, 2010. 88.
  10. News: Icahn Said to Seek More Control Over Biogen. 14 January 2018. NY Times. January 28, 2010.