Biogen confirms departure of chief financial officer

Biogen has announced that its executive vice-president for finance and chief financial officer Paul Clancy will be leaving the company in the coming weeks.

Mr Clancy, who has been with Biogen for more than 16 years, will be leaving the organisation to join Alexion, another biopharmaceutical company. He will remain at Biogen until the end of the second quarter in order to ease the transition process.

Greg Covino, Biogen's chief accounting officer, has been named as the company's interim principal financial officer while a search for a new permanent successor to Mr Clancy takes place.

Michel Vounatsos, Biogen's chief executive officer, said: "Paul helped transform Biogen into the global biotechnology leader it is today and helped to prepare us for the bright future we believe lies ahead."

Mr Clancy spent 13 years with PepsiCo in various executive positions before joining Biogen. Alexion has appointed the veteran finance executive as the successor to Dave Anderson.

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