Aveo Oncology appoints Michael Bailey as president

Aveo Oncology (Nasdaq: AVEO) has appointed Michael Bailey as president, chief executive and director.

He comes to the role from the position of chief business officer, and succeeds Tuan Ha-Ngoc, who will become chairman of the board. Current board chair, Henri Termeer, will become lead outside director.

Mr Termeer said: “We thank Tuan Ha-Ngoc for his leadership of AVEO from its founding as a company. His legacy is one of building a strong scientific and business foundation, one which has produced a portfolio of promising assets which we believe have positioned the Company for future value creation. As Tuan transitions to his new role, the board has confidence in Michael Bailey’s ability to lead the company and continue to execute a strategy to build shareholder value. Michael brings strong leadership skills coupled with extensive experience in corporate portfolio strategy, business development, commercial operations, clinical product development and business analytics, all of which will serve the company well as it seeks to execute its strategy going forward. We are also pleased that the company will continue to benefit from Tuan’s insights and experience in his new role as chairman of the board.”