Company Update (NASDAQ:EXEL): Exelixis, Inc. Appoints Chris Senner as Executive Vice President and Chief Financial Officer

Exelixis, Inc. (NASDAQ:EXEL) announced the appointment of Christopher J. Senner as Executive Vice President and Chief Financial Officer. Mr. Senner has nearly 25 years of experience in biopharmaceutical finance, including deep expertise in global financial operations and controls, strategic planning and analysis, supply chain finance and business development. He joins Exelixis after five years at Gilead Sciences, where he served as Vice President, Corporate Finance. He previously spent eighteen years at Wyeth in a variety of financial roles with increasing responsibility for many of the company’s divisions and regions. He joins Exelixis in advance of several potentially transformational milestones anticipated this year, including top-line results from the METEOR phase 3 pivotal trial and the potential U.S. and EU regulatory approvals of cobimetinib, a compound discovered by Exelixis and then licensed to Genentech for further development and commercialization.

In this role, Mr. Senner will oversee the company’s global finance function, leveraging extensive experience gained earlier in his career. While at Gilead, he was accountable for controllership and operational financial planning and analysis, including research and development, manufacturing, commercial operations, and tax and treasury planning. At Wyeth, he served in a variety of capacities, most notably as CFO of the company’s $10 billion U.S. pharmaceuticals business and the BioPharma Business Unit, a $5 billion global inflammation, oncology and hematology business.

“With more than 25 years of service between two of the biopharmaceutical industry’s most highly-regarded companies, Chris Senner is exceptionally well prepared to lead Exelixis’ finance function as our next CFO,” said Michael M. Morrissey, Ph.D., President and Chief Executive Officer of Exelixis. “Chris’ global commercial finance expertise will serve Exelixis well as we prepare for top-line results from METEOR and the potential regulatory approval of cobimetinib, two milestones that we hope will advance and accelerate the company’s transformation into a global commercial organization.”

Mr. Senner will succeed Deborah Burke, who has served as Senior Vice President and Chief Financial Officer since September 2014. Ms. Burke joined Exelixis in 2005 and was the company’s Vice President, Finance and Controller before being appointed interim CFO in June 2014. She will remain with Exelixis in the role of Senior Vice President, Finance and Controller.

“I’d like to thank Debbie for her many contributions as Chief Financial Officer over this past year. Her support has been invaluable as we have navigated through a challenging time for the company,” continued Dr. Morrissey. “We are fortunate that we will continue to have the benefit of her input and experience as we move forward.”

“It is a very exciting time to join Exelixis,” said Mr. Senner. “Should its near-term catalysts prove positive, the company is poised to make additional, important contributions to the treatment of cancer and dramatically advance its commercial presence. I’m looking forward to working with Mike, Debbie and the rest of the Exelixisteam to make the most of the potential opportunities that lie ahead.” (Original Source)

Shares of Exelixis closed yesterday at $3.66. EXEL has a 1-year high of $4.55 and a 1-year low of $1.26. The stock’s 50-day moving average is $3.54 and its 200-day moving average is $2.82.

Exelixis Inc is a biotechnology company that develops small molecule therapies for the treatment of cancer.

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