EY vet set to re­place re­tir­ing Am­gen CFO Meline

Ahead of its third-quar­ter re­sults next week, Am­gen on Tues­day dis­closed the planned re­tire­ment of David Meline, who has served as the com­pa­ny’s chief fi­nan­cial of­fi­cer since 2014.

Meline will be re­placed by Ernst & Young vet, Pe­ter Grif­fith, as CFO come Jan­u­ary 1, 2020 — but un­til then Grif­fith will serve as ex­ec­u­tive vice pres­i­dent, fi­nance.

“Over the last 5 years at Am­gen, Meline in­sti­tut­ed many ma­jor changes that led to op­er­a­tional ef­fi­cien­cies and mar­gin ex­pan­sion while suc­cess­ful­ly re­turn­ing cash to share­hold­ers. Now that Am­gen is on sol­id foot­ing, it was a good time to step away,” Cowen’s Yaron Wer­ber wrote in a note. “We do not an­tic­i­pate any ma­jor changes to strat­e­gy or op­er­a­tions im­me­di­ate­ly due to this tran­si­tion as Am­gen is on sol­id foot­ing.”

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