New CFO for Celgene

David Elkins is leaving his position as CFO for Consumer Products, Medical Devices and Corporate Functions at Johnson & Johnson to take over as CFO at Celgene from Peter Kellogg, who will move to Chief Corporate Strategy Officer until his retirement in 2019. Prior to J&J, David was CFO at AstraZeneca and Becton Dickinson.
Celgene currently has issues with pipeline and its product ozanimod, for the treatment of relapsing MS. The share price has fallen dramatically from $146 in October 2017 to $79 currently. It is thought the appointment of David Elkins is a demonstration to the shareholders that Celgene is taking a fresh approach to business.
Mark J. Alles, Chairman and Chief Executive Officer of Celgene Corporation said: “The addition of David as our new CFO strengthens and expands our leadership team and positions us to capitalize on our significant opportunities through 2020 and beyond. Our business performance will be further enhanced by Peter’s continued strategic insight and David’s extensive industry experience leading global finance teams.”