More management changes at Celgene: The drugmaker has named a new CFO. Jacqualyn Fouse will take the financial reins September 27, replacing David Gryska, who'll leave the company November 1 "to pursue other opportunities," according to a statement.
Some analysts see Fouse's appointment as the marker of Celgene's international growth. She comes to the company from Bunge, a global agricultural and food company. Before that, she was CFO at Alcon, the Swiss eye care company in which Novartis just purchased a controlling stake; she also served as group treasurer at Nestle, Alcon's former majority owner.
"We believe the CFO transition likely represents part of Celgene's evolution from a mid-cap U.S. focused growth company to a large-cap international company," ISI Group analyst Mark Schoenebaum writes in a research note, according to Reuters. "This is important, as we expect international sales to account for over half of Celgene's business within three to five years."
The CFO change comes four months after Celgene chose Robert Hugin to take over as CEO; he replaced founder Sol Barer (photo), who stepped upstairs into the chairman's office and plans to bow out next year to become nonexecutive chairman.
- read the Celgene release
- see the Reuters story
- get more from Barron's