Key Highlights
- Paul R. Edick to retire as CEO and Chairman effective August 1, 2024.
- John P. Shannon appointed as new CEO and Board member.
- Marla S. Persky named Chairperson of the Board.
- Xeris anticipates over $47 million in Q2 2024 revenue.
- Paul R. Edick to serve as a senior advisor through February 2026.
Source: Business Wire
Notable Quotes
- “With such a strong foundation and a very high performing team, the Board has determined now is the right time to initiate our long-standing CEO succession plan and leadership transition. On behalf of the Board, I’d like to thank Paul for his leadership, commitment, and the legacy he has built. The Board is confident that John Shannon is the ideal person to lead the next chapter of Xeris’ evolution.” — Marla S. Persky, Board Member at Xeris
- “It has been an honor to lead this incredible company and team. Together, we have grown from a small startup with less than a dozen employees to a successful commercial organization with over 400 employees, three marketed products, and the underlying technologies to continue advancing both our internal and partnered pipelines.” — Paul R. Edick, CEO and Chairman at Xeris Biopharma Holdings, Inc
- “Paul helped bring Xeris to where we are today—a thriving enterprise with tremendous momentum for continued growth. Xeris is stronger than ever. We anticipate total revenue of over $47 million in the second quarter, continuing to deliver robust revenue growth across.” — John P. Shannon, President and Chief Operating Officer at Xeris Biopharma Holdings, Inc
SoHC's Take
The CEO succession at Xeris Biopharma marks a pivotal moment in the company’s evolution. With Paul R. Edick’s significant contributions over the past seven years, the transition to John P. Shannon’s leadership is poised to maintain and accelerate the company’s growth trajectory. Shannon’s extensive experience in the pharmaceutical and healthcare industry, combined with his strategic vision, will likely drive Xeris forward, ensuring continued innovation and market expansion. The anticipated revenue growth and robust pipeline underscore Xeris’ strong position in the biopharmaceutical sector.
