Swedish drugmaker Sobi wants its new CEO from Europe, Geoffrey McDonough to leave in July

Sweden-based pharmaceutical company Orphan Biovitrum AB (Sobi) has began looking for the new Chief Executive Officer (CEO), presumably a residence of Europe. The company said on Monday that its current boss, Geoffrey McDonough will leave the company in six months, on July 1, 2017.

Geoffrey McDonough

According to Håkan Björklund, Chairman of the Board of Sobi, McDonough can’t keep up with the increasing focus of the company’s business in Europe due to his Boston location.

Björklund said that McDonough helped Sobi become a prominent rare disease biotech company with a vibrant and growing commercial portfolio and significant growth potential ahead.

“Given the increasing demand and focus of our business in Europe, the Board has decided that Sobi needs more continuous presence in Stockholm than Geoffrey can sustain given his current location in Boston,” said Björklund.

“Sobi stands today on the platform of a strong and unique rare disease position supported by several years of strong financial results”, says Geoffrey McDonough, CEO and President of Sobi, “The company is entering a period of unprecedented growth and opportunity that will benefit from local leadership.”

The company announced in its press release that it will host an investor and analyst conference call on January 9 at 12:30 pm CET, where Geoffrey McDonough, CEO and Håkan Björklund, Chairman of the Board, will make a brief statement and will be available for questions.