Michael McDonnell, Executive Vice President and Chief Financial Officer to Retire in February 2025
October 28 2024 - 8:30AM
UK Regulatory
Michael McDonnell, Executive Vice President and Chief Financial
Officer to Retire in February 2025
Robin Kramer, Chief Accounting Officer, to Succeed
Him
CAMBRIDGE, Mass., Oct. 28, 2024 (GLOBE NEWSWIRE) --
Biogen Inc. (Nasdaq: BIIB) today announced that Michael McDonnell,
Biogen’s Executive Vice President and Chief Financial Officer,
plans to retire from the company on February 28, 2025. Upon Mr.
McDonnell’s retirement, Robin Kramer, currently Chief Accounting
Officer at Biogen, will assume the role of Chief Financial Officer
(CFO). In the coming weeks and months, Mr. McDonnell will work
closely with Ms. Kramer to ensure a smooth transition.
Mr. McDonnell, who has served in his current role since August
2020, has been instrumental to repositioning Biogen towards the
goal of returning to sustainable growth. He notably led a program
to re-align the company’s cost structure to its revenue base and to
redeploy capital in areas of potential growth. As part of these
efforts, Mr. McDonnell played a pivotal role in recent strategic
acquisitions of late-stage assets and in creating a culture of
financial discipline and continuous improvement across the
company.
“On behalf of the Board of Directors and our entire leadership
team, I would like to extend our gratitude to Mike for his years of
dedication to Biogen. In the two years we have worked
together, Mike has demonstrated strong leadership during our Fit
for Growth program, and he has been an important and valued counsel
for me and our team,” said Christopher A. Viehbacher, Biogen
President and Chief Executive Officer.
“Mike leads a strong team, and I am pleased to be able to
announce that Robin Kramer will succeed Mike as Executive Vice
President and CFO when Mike retires early next year. Her deep
understanding of our business, coupled with her breadth of
knowledge and leadership experience give me great confidence in her
as our next CFO,” Viehbacher continued. “Robin will join the
Executive Committee and work with our leadership team to build
upon Biogen’s transformation and further advance our strategic
vision.”
Ms. Kramer joined Biogen in 2018 and has served as Senior Vice
President and Chief Accounting Officer since 2020. In this
capacity, she has overseen key finance functions including
Treasury. She is also responsible for global procurement and
Biogen's Global Business Services operations. She brings a strong
track record of corporate financial and accounting experience
across different industries, including biotechnology, and will
continue to be a key contributor to the advancement of Biogen’s
sustained performance. She has partnered with Mr. McDonnell and the
rest of the leadership team on the company’s M&A strategy and
other strategic growth initiatives. Ms. Kramer works closely with
the Board of Directors and the Audit Committee.
“I am honored to assume the role of CFO as Biogen continues to
execute on its strategic transformation for the benefit of our
patients, partners, employees and shareholders,” said Ms. Kramer.
“Mike has been a wonderful mentor to me the last few years, and I
look forward to working with Chris, the Executive Committee and the
Board as we continue to advance and deliver on the strategic and
financial objectives, which we believe are core to Biogen’s next
chapter of biotech leadership and our ability to create attractive
returns for our shareholders.”
Before joining Biogen, Ms. Kramer held senior finance roles at
Hertz Global Holdings, Inc., Fisher Scientific International, Inc.
and The Gillette Company, and was an audit partner at Deloitte
& Touche LLP, Ernst & Young LLP and Arthur Andersen LLP.
Ms. Kramer currently serves as Chair of the Board of Directors and
Audit Committee of Armata Pharmaceuticals and serves on the Board
of Directors and Finance Committee of the Center for Women and
Enterprise. She holds a B.S.B.A. in Accounting from Salem State
University and is a licensed CPA in the Commonwealth of
Massachusetts.
“I am deeply grateful for my time at Biogen and for the
company’s unwavering commitment to patients, which has profoundly
impacted me. It has truly been a privilege serving as Biogen's
Chief Financial Officer," said Mike McDonnell. "While I look
forward to retirement and the opportunity to spend more time with
my family, who have supported me throughout my career, I will miss
working alongside my exceptional colleagues. I'm especially
grateful to Robin Kramer for her partnership and congratulate her
on her appointment as Biogen’s next CFO; I am confident she will
excel in this role.”
About Biogen
Founded in 1978, Biogen is a leading biotechnology company that
pioneers innovative science to deliver new medicines to transform
patients’ lives and to create value for shareholders and our
communities. We apply deep understanding of human biology and
leverage different modalities to advance first-in-class treatments
or therapies that deliver superior outcomes. Our approach is to
take bold risks, balanced with return on investment to deliver
long-term growth.
We routinely post information that may be important to investors
on our website at www.biogen.com. Follow us on social
media - Twitter, LinkedIn, Facebook, YouTube.
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MEDIA CONTACT:
Biogen
Jack Cox
+ 1 781 464 3260
public.affairs@biogen.com
|
INVESTOR CONTACT:
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IR@biogen.com |
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