By Stephen Nakrosis
Galapagos NV said Paul Stoffels, the company's chair and chief executive officer, intends to retire as CEO upon appointment of a successor, but plans to continue serving as chair.
The board will search for a successor to Stoffels, with the successor CEO expected to be hired in the next 12 months.
The company also said Henry Gosebruch, who was most recently president and CEO at Neumora, was appointed by the board to serve as the founding CEO of a newly created company which will be spun off. The new company will initially be funded with about EUR2.45 billion ($2.81 billion) in cash and cash equivalents. The new company will focus on building a pipeline of "innovative medicines with demonstrated proof-of-concept and the potential to elevate standard-of-care for patients through one or more transformative transactions," according to Galapagos.
Prior to Neumora, Gosebruch was EVP and chief strategy officer at AbbVie, and before that worked at J.P. Morgan, Galapagos said.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
April 21, 2025 16:53 ET (20:53 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.