Seagen (SGEN) Announces CEO Resignation

Seagen Inc. (Nasdaq: SGEN) today announced that the Board of Directors yesterday accepted the resignation of Clay Siegall, Ph.D., as President, CEO and member of the Board of Directors. Felix J. Baker, Ph.D., formerly Lead Independent Director, has been appointed Chair of the Board of Directors. Roger Dansey, M.D., Seagen’s Chief Medical Officer since 2018, will continue as interim CEO until a new CEO is found.

The Board had previously announced that Dr. Siegall was on a leave of absence and that it had formed a committee of independent directors to undertake, with the assistance of an independent law firm, a thorough investigation into Dr. Siegall’s conduct. While the investigation continues, the Board and Dr. Siegall agreed it is in the best interests of Seagen and its stakeholders for him to resign at this time. Dr. Siegall’s resignation has not been driven by findings from the investigation. The Board is commencing a search for a permanent CEO.

“As we move forward, the Board has great confidence in the leadership of Roger Dansey, the senior management team and the nearly 3,000 employees to continue Seagen’s impressive growth trajectory. Seagen remains strong, our future is bright, and we are on track to achieve several important milestones over the remainder of 2022 and beyond,” said Dr. Baker. “Dr. Siegall co-founded Seagen in 1998 with a vision to make a meaningful difference in the lives of people with cancer by developing targeted therapies to treat unmet medical needs. Today, Seagen is a leading developer of cancer medicines, with four approved products and a robust pipeline of innovative therapies.”

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