James Mullen (CEO)

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James C. “Jim” Mullen (born ca. 1958) was the president and CEO of Biogen Idec until he retired effective June 8, 2010.[1] At the same time, he started he would retire from the board at the end of his term.[2] In 2011, he was named CEO to drug manufacturer Patheon, based in Durham, North Carolina, as well as to their board.[3][4] 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.[5] 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 demanding changes as he tried to gain more control over the board.[6][7]

References[]

  1. ^ "Xconomy: Biogen Idec CEO Jim Mullen Stepping Down, After Tumultuous Year of Shareholder Activism". Xconomy. 2010-01-04. Retrieved 2020-02-06.
  2. ^ "Chief of Struggling Biotech Company, Biogen Idec, to Retire". NY Times. January 4, 2010. Retrieved 14 January 2018.
  3. ^ Chen, Monica (February 7, 2011). "Former Biogen Idec CEO Mullen to lead Patheon". Triangle Business Journal. Retrieved 14 January 2018.
  4. ^ Gryta, Thomas (March 22, 2010). "Biogen Cuts a Deal With Icahn". WSJ. Retrieved 14 January 2018.
  5. ^ "Pantheon Profile". Pantheon. Retrieved 14 January 2018.
  6. ^ Jarvis, Lisa M. (January 11, 2010). "Biogen Idec's CEO To Retire Biotechnology: James Mullen will leave as the company grapples with a stagnant pipeline". 88 (2). Chemical & Engineering News.
  7. ^ "Icahn Said to Seek More Control Over Biogen". NY Times. January 28, 2010. Retrieved 14 January 2018.


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