Applied Therapeutics (NASDAQ:APLT) has announced leadership changes, naming John H. Johnson as executive chairman (EC) and Les Funtleyder, formally CFO, as interim CEO. Shoshana Shendelman, MD, has stepped down from her roles as CEO and chair.
Mr. Johnson is a biopharmaceutical industry veteran with 40 years of transformational leadership experience at global healthcare organizations, including Johnson & Johnson, Eli Lilly, ImClone, and Pfizer.
In a statement, Dr. Teena Lerner, lead independent director of Applied, said, “On behalf of the Board, we strongly believe that John will be a tremendous addition to Applied Therapeutics. His experience leading pre-commercial businesses, deep knowledge of rare diseases and the commercialization process, along with his commitment to culture, are deeply aligned with Applied Therapeutics’ priorities. We believe this change in leadership is the right next step for our Company, our shareholders and the patients we aim to serve.”
Mr. Johnson commented, “I look forward to leveraging my background and years of biopharmaceutical experience to help write the next chapter for Applied Therapeutics. My top priority will be to ensure we have the right groundwork in place to work toward our regulatory and clinical milestones. I look forward to working closely with the Board, management and team to drive value creation.”
