Merchants Bancshares (MBVT) CFO Resigns for Other Opportunites Sep 19, 2014 04:02PM

Merchants Bancshares, Inc. (NASDAQ: MBVT), the parent company of Merchants Bank, announced that Janet P. Spitler, Merchants Bancshares, Inc. Chief Financial Officer and Treasurer, is resigning effective December 31, 2014 to pursue other professional interests.

"Janet has been a significant contributor to our company over the past 24 years. We are extremely grateful for her dedicated service and wish her the best in her future endeavors," commented Michael R. Tuttle, Merchants Bancshares, Inc. President and Chief Executive Officer.

Janet Spitler, Merchants Bancshares, Inc. Chief Financial Officer and Treasurer, added, "I have enjoyed my 24 year tenure with the bank and all of the relationships I have built over the years. I wish the team continued success and will take an active role in the transition as I look forward to the next chapter in my career."


ARIAD Pharma (ARIA) Director Whelan Resigns; Will CEO Berger be Next? Sep 19, 2014 12:15PM

ARIAD Pharma (NASDAQ: ARIA) shares are up 2.3 percent Friday. After markets closed on Thursday, the company disclosed the following:

On September 13, 2014, Robert M. Whelan, Jr. notified ARIAD Pharmaceuticals, Inc. (the “Company”) that he will resign from the Company’s Board of Directors, effective October 1, 2014. Mr. Whelan has served as a director since April 2010 and currently serves as a member of the Audit Committee and the Compensation Committee. The Company, its leadership and its Board of Directors would like to thank Mr. Whelan for his many contributions to ARIAD, its shareholders and cancer patients.

Notably, infamous biotech blogger Adam Feuerstein sees an exit of CEO Harvey Berger happening sooner rather than later. You can see his latest blog post here.


Horizon Pharma (HZNP) Names New Board Slate Following Vidara Therapeutics Acquisition Sep 19, 2014 10:51AM

Horizon Pharma (Nasdaq: HZNP) announced the appointment of its Board of Directors. The appointment of the Horizon Pharma plc Board follows the closing of the acquisition of Vidara Therapeutics International plc by Horizon Pharma, Inc. and the resulting parent entity being incorporated in Ireland under the name Horizon Pharma plc.

Timothy P. Walbert, president and chief executive officer of Horizon Pharma plc, has been named Chairman of the Board and Michael Grey has been named Lead Independent Director.

The Company's Board is comprised of each of the former members of the Horizon Pharma, Inc. Board of Directors, including Mr. Walbert, Mr. Grey, Jeff Himawan, Ph.D., Ronald Pauli, Gino Santini and H. Thomas Watkins, as well as two new Board members, Liam Daniel and Virinder Nohria, M.D., Ph.D.

The Board also has several standing committees, comprised of an Audit Committee, Compensation Committee, Transaction Committee and Nominating & Governance Committee.

New Members of the Board of Directors

Liam Daniel

Mr. Daniel, 62, a Chartered Director and Chartered Accountant, was elected to the position of President of the Institute of Directors of Ireland in May 2013, and was originally elected to the board of the Institute of Directors in Ireland in June 2010. Most recently, he was Executive Vice President and Company Secretary of Elan Corporation plc and served in that role from December 2001 until the merger of Elan with Perrigo in December 2013. He was previously an Executive Director of Elan between 2003 and 2007, having joined the organization as Financial Controller in 1994. Mr. Daniel was previously Financial Director of Xtravision plc from 1990 to 1992 and prior to that, he held the position of Head of Finance of An Post for a period of three years. He is also a former President of the Financial Executives' Association of Ireland.


Celgene (CELG) Appoints New President of EMEA for Celgene International Sàrl Sep 19, 2014 08:04AM

Celgene International Sàrl, a wholly owned subsidiary of Celgene Corporation (Nasdaq: CELG), announced that Tuomo Pätsi has been appointed President of the Europe, Middle East and Africa (EMEA) region for the company. In this role, he will oversee the current portfolio in EMEA as well as international efforts related to the company’s broad pipeline of clinical programs in areas including immunotherapy, epigenetics, ubiquitin ligase targets, cancer metabolism and others. Mr. Pätsi takes over from Alan Colowick, MD, who has led Celgene in the region since 2012 and who returns to the United States, taking on another senior strategic position for the company.

This year continues to be significant for Celgene in Switzerland and throughout the EMEA region. In addition to the change in leadership, Celgene also announced today the Swissmedic approval of ABRAXANE® (nab-paclitaxel), which was granted on 27 August, in combination with gemcitabine for metastatic pancreatic cancer and as a standalone therapy for metastatic breast cancer. The pancreatic cancer indication is particularly notable, as it is the first new therapy for this disease in nearly 7 years. In Switzerland, pancreatic cancer has the fourth highest cancer mortality rate.1 Median life expectancy after diagnosis with metastatic pancreatic cancer is only 3–6 months.2

“It is a very exciting time for Celgene, as we continue to deliver cutting-edge medicines to the many thousands of patients with life-threatening, rare or debilitating diseases across the region,” said Mr. Pätsi. “The latest approvals by Swissmedic follow EU approval of Abraxane in pancreatic cancer. We also received approval in the EU and Switzerland for a new therapy to treat a rare blood cancer and an expanded indication for another rare blood cancer. These important steps will ensure more patients can benefit from these innovative new options.”

He added: “It is an exciting time to work in an industry that is delivering significant innovation and having a direct and sustainable impact on patients, on healthcare and on the economy. My vision as the President for Celgene EMEA is to continue fostering innovative approaches and outcomes for the patients who need our medicines, and we will continue to collaborate with every stakeholder responsible for delivering healthcare, to ensure that patients receive the medicines they need and deserve.”

Mr. Pätsi’s appointment as President follows more than 7 years with the company. Most previously, he served as Corporate Vice President for the South Europe Region; as General Manager, Regional Vice President for the North Europe Region; and as Head of European Marketing. Mr. Pätsi is of Finnish nationality and will be based out of Celgene’s International headquarters in Boudry, Switzerland.

The approval of ABRAXANE in Switzerland follows the announcement in June of the SwissMedic approval of oral IMNOVID (pomalidomide) for relapsed/refractory multiple myeloma. In June, the company also announced the forthcoming expansion of the EMEA headquarters in Switzerland, with the acquisition of a new site in Couvet, Neuchâtel.


China Sunergy (CSUN) CEO Cai Resigns Sep 19, 2014 07:02AM

China Sunergy Co., Ltd. (Nasdaq: CSUN) announced that Mr. Tingxiu Lu, an industry veteran, chairman of the board and one of the company's founders, will rejoin the Company's executive management team as Chief Executive Officer, effective in September. Mr. Stephen Zhifang Cai, China Sunergy's former chief executive officer, tendered his resignation from the Company for personal reasons.

Mr. Lu served as the Company's chief executive officer from October 2006 to July 2007 and continuously served as Chairman of the board since 2007. He brings broad operational, management and technological experience, and deep industry knowledge to China Sunergy. Mr. Lu graduated from an executive business management program at Tsinghua University in 2006.

Mr. Lu commented, "In recognition of Stephen's service, I would like to extend my personal appreciation for his dedicated services and contributions to China Sunergy, especially in the past several years when the solar industry has undergone very challenging dynamics. I am honored, energized and very excited to be back in a highly active role with the Company. I will focus on the strategic initiatives in the hope of revitalization, innovation and creation of value for our customers and shareholders."

Upon the appointment of Chief Executive Officer, Mr. Lu will retire from all of his executive positions in China Electric Equipment Group Co., Ltd., or CEEG.


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