Ironwood names Mark Mallon CEO

Ironwood Pharmaceuticals (IRWD) announced that the Ironwood board of directors has appointed CEOs of the two companies, effective at the time of Ironwood’s planned separation which is on track to be completed in 1H19. Industry veteran Mark Mallon will become CEO and a director of Ironwood. Mallon is joining Ironwood effective immediately as executive senior advisor, working closely with Peter Hecht, founding CEO of Ironwood, through the separation. Peter Hecht will become CEO and a director of Cyclerion Therapeutics, the soluble guanylate cyclase biotechnology business focused on the development of five sGC stimulators targeting the treatment of serious and orphan diseases. Mallon joins Ironwood following a distinguished 24-year career at AstraZeneca (AZN) where he held a variety of senior executive positions. He most recently served as a member of its executive committee, reporting to the CEO, as executive vice president of global product and portfolio strategy leading global marketing, commercial operations, pricing and market access, medical affairs and corporate affairs for AstraZeneca’s $18B pharmaceutical business. Peter Hecht has served as Ironwood’s CEO and director since co-founding the company in 1998. Ironwood is on track to complete the separation in the first half of 2019, subject to customary conditions, including a favorable opinion with respect to the tax-free nature of the transaction, and final approval of Ironwood’s board of directors.
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