NovoCure CEO to Retire, CFO to Take Over

By Bobby Samwell • Tuesday, September 03 07:55 • Permanent Link

Novocure (NASDAQ: NVCR) has announced a significant leadership transition, with Chief Executive Officer (CEO) Asaf Danziger set to retire at the end of 2024. He will be succeeded by the company's current Chief Financial Officer (CFO), Ashley Cordova, effective January 1, 2025. Having served as CEO since 2002, Danziger has been instrumental in leading Novocure's growth into a successful global company, with annual global sales exceeding $500 million and a workforce of over 1,500 employees.

Under Danziger's leadership, Novocure's patient-forward mission has seen significant progress. The company's innovative therapy, Tumor Treating Fields, has been commercialized in certain countries for the treatment of adult patients with glioblastoma, malignant pleural mesothelioma, and pleural mesothelioma.

Ashley Cordova, who has been with Novocure since 2014 and serving as CFO since September 2020, is set to take over as CEO. Cordova, known for her strategic vision and operational excellence, has been integral in preparing the company for its next stage of growth.

In addition to the CEO transition, Wilco Groenhuysen will step down as Chief Operating Officer (COO) effective October 1, 2024. Mukund Paravasthu, the current Senior Vice President of Product Development, will expand his responsibilities and transition into the role of COO.

Novocure, headquartered in Root, Switzerland, has regional operating centers in Portsmouth, New Hampshire, and Tokyo, along with a research center in Haifa, Israel. The company's ongoing or completed clinical trials are investigating Tumor Treating Fields in various cancer indications, including brain metastases, gastric cancer, liver cancer, and ovarian cancer.

The planned CEO transition and COO change mark a significant shift in Novocure's leadership as it continues to focus on extending survival in aggressive forms of cancer through its innovative therapy. Following these announcements, the company's shares moved -1.6%, and are now trading at a price of $19.44. For the full picture, make sure to review NovoCure's 8-K report.

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