Anne Whitaker is stepped down as CEO of Synta Pharmaceuticals Corp. (NASDAQ:SNTA) just nine months after she got the position. Whitaker left the company in a state of disarray as the company tries to cut down its operations to limit losses.
The former CEO joined Synta less than a year ago after leaving Sanofi SA (ADR) (NYSE:SNY) and is now reported to have left Synta in the pursuit of a bigger opportunity. The company refused release any further information about the matter. Her stay at Sanofi was also relatively short. She served a three-year period where she was pivotal in running the North American operation for the French drug maker.
Whitaker joined Synta hoping that she would help improve the immunology and oncology venture. At the time she Joined Synta, the biotech company was going through a rough patch. Anne spearheaded the decision to lay off 20% of the workers in February in a bid to boost the company’s profits. Only 90 individuals were let working for the company. The decision was thought to be the best solution to maintain profitability.
Synta had to employ a new CEO, who was a record third within a year. The new CEO position was allocated to Chen Schor. Part of Schor’s current top priorities is to maintain focus on current drug trials for lung cancer treatments. The trials are in the third phase.
Synta’s chairman, Keith Gollust spoke on behalf of the company and expressed appreciation for the time she devoted to the company during her term. Keith also commented on her leaving, citing that there were no hard feelings since it was a decision purely fueled by professional aspirations. The company wished her success in her endeavors. The company handled the whole issue very professionally despite the fact that it wasn’t such an opportune time for Synta to be having major leadership changes.
The biotech company expects its drug trials for lung cancer treatment to finalize successfully, after which an FDA approval will be sought. After that, the company will engage in other drug trials on the lineup.
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