You can take ortigia's emotional rants on executive mgt or take someone who is an ex CEO and CFO like me who just talked in detail with most of them
Right now I think CELG has the strongest team under the CEO in all of biotech, It was such a pleasure interacting with these CELG executives who are all well versed in the biotech business but also understand shareholder value/initiatives....
One of the great things about going to ASH is visiting the great CELG large exhibit on the exhibition floor and interacting with the very very professional and polished CELG employees working the booth and then bumping into the Celgene Executives at the exhibit and having detailed discussions with them there, at the Sunday night analyst meeting and/or the Monday lunch for investors and analysts with a senior executive at each table having detailed business discussions with analysts and institutional and retail investors.
As a CELG shareholder for almost 15 yrs, I have had many interactions with the CELG executive management over the yrs and I am certain this is by far the best group of senior executives under the CEO that Celgene has ever had.
Discussing business (AND YES SHAREHOLDER VALUE) with executives like Mark Alles, Perry Karsen, Jackie Fouse, Tom Daniel and Dr. Jean-Pierre Bizzari was interesting and exciting. Their confidence in the pipeline, near term catalysts, revenue and EPS growth, and the near term future of this company was palatable. I am now more confident in Celgene's future than I have been in years. What was really refreshing talking to these quality executives as opposed to talking to Gryska or Zeldis in the past was that everyone of them seemed to understand both the science/biotech business issues as well as the financials and shareholder value initiatives. Finance people definitely understand the business and science in detail and the science guys are now very well versed in investor and shareholder value issues - more than ever before.
On the Communciations/Investor Relations side the previous poster is right. Brian Gill is doing an excellent job in his new role perfectly suited for him - his knowledge of the company and the pipeline is impressive and his agressive initiatives at both the San Antonio Breast Cancer conference and ASH were tremendous. The new IR guy Patrick Flanagan is polished and professional and these two areas now are in great hands.
Jackie Fouse is hands down the most impressive CFO I have ever met in all of healthcare. As a former CFO myself it is a joy to have a polished, unique, impressive, internationally seasoned, intelligent person like Jacki leading our financial, shareholder value, buyback, hedging, investor relations and capital allocation/cash utilization efforts. She has enhanced the confidence of US and international investors single handily. (I heard she presented in 4 languages on her recent tour in Europe presenting to institutional investors - in France for instance the entire powerpoint presentation was prepared in French). She has made amazing strides in a short period of time in a company not known for quick change. I thank God every day that she is with CELG. In 2012 I think you will see benefits from her efforts over and over again.
The one thing you get by being there instead of being on the webcast is the ability to judge body language and confidence in the future. In my almost 15 yrs with this company its never been better. While I still think we need some changes on our Board of Directors, I have to say I think this executive management team is better than any Celgene has ever had and better than any other in all of biotech.
As my friend Steve from Raymond James says:
"The best is yet to come"
100% right post. Celgene has quietly stolen the top talent in the industry. Agree this board except E Mario is in need of a complete overhaul and no way Hugin should be chairman - but the CELG officers/Senior executives are so much better than any other biotech. Not having that joker Gryska walking away from investors and having world class professional like ms fouse instead is a huge huge huge improvement. Having conservative Barer and his buddy Zeldis gone too is big. I do think CELG is the next BIIB in 2012. Add
I guess I am a little confused. You are bagging on old management, yet old management is what brought thalomid, and revlimid to the market.
The new management has more resources and they have yet to get a new indication for revlimid and have yet to bring another compound from the Celgene pipeline to market.
This new management has made three atrocious acquisitions. Buying Abraxis, Pharmion and Gloucester makes me think this new management is anything but cutting edge.
I did not know the Celgene PR department was now posting press releases on a Yahoo Message Board.
In all seriousness this company cannot have the best management team in place. Look at the recent acquisitions, the shareholder and the company would have been better off without Celgene acquiring Abraxis, Pharmion and the worst, Gloucester.
Agree 100% this is and has been the absolute worst group of managers ever assembled considering also what they had to work with,they dropped the ball so many times and turned gold into lead.....Hugin the CEO is only interested in free options and his new CFO is trying to do something but so far she has failed miserably...IR department is a joke.....One good thing they could do is put the company up for sale,this is the most shareholder unfriendly co ever....Having said that there is value here but only for a takeover because these guys will never be able to totally get the true value in the stock price......
Look @ the ASH performance using the PPS... Compare relative performance to SPY last year and this year in the two days immediately following. I see a HUGE difference.
You say worst mgmt team ever, ort, I see huge differences in this past 12 months.
I agree with RobCos... Stay tuned in 2012!
As I said - TALK to CFO before judging her or any other execs. She is simply the best CFO in all of biotech. No others are close. The rest of the management team is amazing.
Its almost our time. 2012 is going to be amazing.