Celgene names Mark Alles new CEO, cuts 2015 profit view

12 January 2016

Shares in US biotech firm Celgene Corp (Nasdaq: CELG) closed down over 5.5% on Nasdaq Monday after the company named chief operating officer Mark Alles as chief executive effective March 1, and cut its outlook for 2015.

The company also said it expects 2016 to miss estimates. In other management shifts, Celgene said chairman and chief executive Bob Huginwould will become executive chairman.

Additionally, Jacqualyn Fouse, who currently leads the drugmaker's global hematology and oncology operations, has been appointed as president and chief operating officer. Scott Smith, who leads Celgene's immunology and inflammation business, will add the role of chairman of the global management committee. Further, Tom Daniel, head of research and early development, was named to the newly-created position of chairman of Celgene research.

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