Allos Therapeutics Announces CEO Succession Plans
Allos Therapeutics, Inc. announced that President, Chief Executive Officer and Chief Financial Officer Michael E. Hart, has notified the Company's Board of Directors of his intention to resign his positions once a successor CEO is named. Mr. Hart will continue to serve as a member of the Board of Directors and will remain in his current capacity while the Board conducts a search for a successor. The Board has retained a nationally recognized executive search firm to assist in the recruitment of a successor.
Mr. Hart joined Allos in 1999 and was promoted to President and CEO in December 2001 and to the Board of Directors in April 2002. Prior to his promotion he was Chief Financial Officer and Senior Vice President, Operations. During Mr. Hart's tenure, the Company received an approvable letter from the FDA for its lead compound EFAPROXYN for the treatment of patients with brain metastases originating from breast cancer, added PDX and RH1 to its product portfolio and gained significant financial strength through four successful stock offerings that collectively generated $170 million, including the Company's IPO in March 2000.
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