Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
.
On April 14, 2019, Saeed Motahari resigned as President and Chief Executive Officer of Insys Therapeutics, Inc. (the “Company”), effective immediately. On April 14, 2019, the Company’s Board of Directors (the “Board”) appointed Andrew G. Long as Chief Executive Officer of the Company, effective immediately. Mr. Long had been serving as Chief Financial Officer of the Company.
In connection with these leadership changes, on April 14, 2019, the Board appointed Andrece Housley as Chief Financial Officer of the Company, effective immediately, succeeding Mr. Long. Ms. Housley had been serving as Corporate Controller of the Company. Additionally, Dr. Venkat Goskonda has been promoted to Chief Scientific Officer, overseeing the Company’s research and development and manufacturing activities.
On April 15, 2019, the Company issued a press release announcing the leadership changes. A copy of this press release is attached hereto as Exhibit 99.1.
The following biographies describe the business experience of
Mr. Long and Ms. Housley:
Mr. Long, age 54, previously served as Chief Financial Officer of the Company since August 2017. He has more than three decades of experience in the life sciences, bio-pharma, and industrial sectors. Prior to joining the Company, he previously served as senior vice president of Global Finance at Patheon, a pharmaceutical company, from 2015 to 2017, where he worked on a number of initiatives leading up to Patheon’s initial public offering. Prior to working at Patheon, Mr. Long spent nine years as vice president of Finance for multiple divisions at Thermo Fisher Scientific. He previously spent five years leading the global finance and supply chain functions for the BioScience Division of Cambrex Corporation. Previously, Mr. Long also spent almost a decade building his financial expertise in various roles at Abbott Laboratories. Mr. Long received his M.B.A. from the Kellogg School of Business at Northwestern University and earned his undergraduate degree in finance from Indiana University.
There are no arrangements or understandings between
Mr. Long
and any other person pursuant to which he was appointed to serve as
Chief Executive Officer
of the Company. There are also no family relationships between
Mr. Long
and any director or executive officer of the Company, and
Mr. Long
does not have a direct or indirect material interest in any “related party” transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Ms. Housley, age 51, previously served as Corporate Controller of the Company since January 2018, after initially joining the Company in 2016 as the director of SEC Reporting
. Prior to joining the Company, she previously worked as an audit senior manager at Deloitte, from 1999 to 2016, where she served various clients in the healthcare, manufacturing, and retail industries. Ms. Housley received her undergraduate degree in accounting from California State University, Fresno.
There are no arrangements or understandings between
Ms. Housley
and any other person pursuant to which she was appointed to serve as
Chief Financial Officer
of the Company. There are also no family relationships between
Ms. Housley
and any director or executive officer of the Company, and
Ms. Housley
does not have a direct or indirect material interest in any “related party” transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.