Leonard Bell, the founder and former CEO of one of Connecticut’s most successful bioscience companies, plans to retire as chairman, board member and director of New Haven’s Alexion Pharmaceuticals, effective May 10.
The board expects to appoint Interim CEO David Brennan to succeed Bell as chairman.
R. Douglas Norby, Alexion’s lead independent director, said Bell’s 25 years guiding Alexion reflect dedication to the biotechnology field. He retired as CEO in 2015.
“His unwavering commitment and perseverance to medical research, his advocacy for serving patients and their families through breakthrough medical innovation, and his stewardship of the company have all contributed to making Alexion the global biopharmaceutical leader it is today,” Norby said.
Bell said he is leaving to spend more time with family, and he encouraged employees “to continue their important mission of discovering and developing new breakthrough therapies to transform the lives of patients who suffer from rare and devastating disorders.”
In December, Alexion replaced its CEO and another top executive about a month after it disclosed an internal probe into sales practices, which also led to a class-action lawsuit against the company.
Though it uncovered no wrongdoing, Alexion identified “material weaknesses” in internal controls over financial reporting that existed as early as Dec. 31, 2015, because senior managers failed to set “an appropriate tone at the top.”
